The load factor is the ratio of rentable square footage to usable space.
This clause mandates that when a property is sold or transferred, the borrower must repay the mortgage in full.
A soft prepayment penalty typically only applies if the borrower refinances the mortgage. It allows them to sell their home without facing any fees.
For qualifying applicants, a single-close loan merges the financing for new construction and the mortgage into one, easing the process of building a home.
An earnout in this context involves a portion of the purchase price being contingent on the future performance of the property. This effectively ties it to predefined financial targets or performance milestones.
Subleasing involves the original tenant leasing the property to a third party, while still maintaining a contractual relationship with the landlord.
Co-signer services in real estate involve a secondary individual who pledges to repay the mortgage if the primary borrower is unable to do so.
Companies like Jetty Rent and Rent Advance enable this flexibility by paying the rent up front and allowing residents to repay in installments.
