A three-digit number used as a primary indicator by many lenders of how likely a borrower is to pay off a debt. Scores can range from 300 to 850. The higher the score, the more financially...
C
C
Credit Report
The compilation of eligible repayment information into a single report on a borrower’s past behavior regarding payment and nonpayment of debts. Credit reports may include information from banks,...
Credit History
The record of a borrower’s repayment of debts. The data included in this history includes every payment behavior, but not all of that data is legally available for inclusion in a credit report or...
Corporate Housing
A solution for corporate employees who need monthly lodging, usually provided through businesses offering fully furnished private residences for stays of 30 or more days.
Conventional Mortgage
Conventional mortgages are not insured or guaranteed by the federal government (neither a VA nor FHA loan). Conventional mortgages adhere to guidelines set by Fannie Mae and Freddie Mac and may have...
Conventional Lender
A traditional bank lender offering conventional mortgage financing using traditional methods to evaluate credit risk. Conventional lenders tend to offer qualified mortgages based on credit rating,...
Construction Loan
Construction loans are intended to finance construction of a physical structure rather than to be long-term financing. Residential construction loans may be converted to permanent after a home is...
Conditional Offer
An agreement between a buyer and seller that the transaction (in real estate, usually the purchase of a piece of property) if certain conditions are met.
Comparative Market Analysis (CMA)
Evaluation of how properties in an area have sold conducted for the purpose of making predictions about how a specific property might sell in the future. CMAs use comparable properties (comps) in...
Commercial Real Estate Loan
A mortgage secured by a lien on a piece of commercial real estate rather than a piece of residential real estate. Commercial loans tend to be made to business entities and are frequently five years...
