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Tags Building / Construction Buying & Selling (and mortgaging) Finance Law & Government Property Investment Renovation Rental 
  • Term
    Definition
  • The buyer or seller of a property can decide to cancel their agreement. This could occur due to an inability to finance the purchase if the inspection results in known/unknown issues or some other stated topic related to the transaction. Typically, the buyer has more opportunities than the seller to cancel a purchase, but there is a chance of earnest money or other fees being lost in the process.
  • An overhang. Where one floor extends beyond and over a foundation wall. For example at a fireplace location or bay window cantilever. Normally, not extending over 2 feet.
  • The upper member of a column, pilaster, door cornice, molding, or fireplace.
  • The portion of the flashing attached to a vertical surface to prevent water from migrating behind the base flashing.
  • Consumer safeguards that limit the amount the interest rate on an adjustable-rate mortgage can change in an adjustment interval and/or over the life of the loan.
  • Consumer safeguards that limit the amount the interest rate on an adjustable-rate mortgage can change in an adjustment interval and/or over the life of the loan.
  • Consumer safeguards that limit the amount the interest rate on an adjustable-rate mortgage can change in an adjustment interval and/or over the life of the loan.
  • Consumer safeguards that limit the amount the interest rate on an adjustable-rate mortgage can change in an adjustment interval and/or over the life of the loan.
  • Your ability to make your mortgage payments on time. This depends on your income and income stability (job history and security), your assets and savings, and the amount of your income each month that is left over after you’ve paid for your housing costs, debts and other obligations.
  • The principal part of a loan, i.e. the original amount borrowed.
  • A repayment loan and the most conventional form of home loan. The borrower pays an amount each month to cover the amount borrowed (or capital or principal) plus the interest charged on capital.
  • Capital gains tax is the profit an individual earns from the sale of a property or an investment. There are two categories for capital gains, short term and long term. Investments that qualify as short term are usually held for a year or less and are taxed at your regular income tax rate. Long term investments are typically held for longer than a year and are taxed at a lower rate than ordinary income tax.
  • A permanent improvement to real estate that increases the value and/or useful life of the property.
  • All debt and equity sources combined that were used to fund an investment in real estate.
  • Or "Cap Rate". A method used to predict the rate of return from an investment property with objective to assess the property's potential and profitability. Calculated by dividing normalized earnings after taxes by present value (or NOI divided by the purchase price), expressed as a percentage.
  • The mortgage interest rate will not exceed a specified value during a certain period of time, but it will fluctuate up and down below that level.
  • Consumer safeguards that limit the amount monthly payments on an adjustable-rate mortgage may change. Since they do not limit the amount of interest the lender is earning, these consumer safeguards may cause negative amortization.
  • An individual who possesses wood craftsmanship.
  • Carpeting is a floor covering made of thick woven fabric, such as nylon, polyester, or natural wool.
  • When an investor purchases a property to rehab, they must factor carrying costs into their list of expenses. These are the expenses incurred from the time the property is purchased until the time that it is sold, including interest payments, taxes, insurance and utilities.
  • Frames of wood or metal enclosing part (or all) of a window sash. May be opened by means of hinges affixed to the vertical edges.
  • A single-window unit, the casement window is usually hinged on the side, and opens outward.
  • When a home buyer offers a seller the entire cost of the house, with no mortgage or any other type of financing involved. These offers are often more attractive to sellers, as they mean no buyer financing fall-through risk and, usually, a faster closing time.
  • The amount of money that is coming in and going out on a rental property. Positive cash flow means that more money is being earned than spent, while negative cash flow means more money is being spent than earned. Cash flow can be calculated by subtracting the total expenses from the gross income of your rental property.
  • The annual before-tax cash flow of an investment expressed as a percentage of the initial cash invested.
  • The annual before-tax cash flow of an investment expressed as a percentage of the initial cash invested.
  • A loan or refinance transaction in which the borrower receives additional funds over and above the amount needed to repay the existing mortgage, closing costs, points, and any subordinate liens.
  • A requirement of many lenders that buyer have sufficient cash remaining after closing to make the first two mortgage payments and/or some amount of required improvements.
  • Liquid assets that are readily available to be used to pay the closing costs for a mortgage transaction.
  • Or "Bank Check". A check whose payment is guaranteed because it was paid for in advance and is drawn on the bank's account instead of the customer's.
  • The trim or molding that forms the frame around doors and windows.
  • A ceiling that follows the underside of the roof or rafters, creating a sloped surface. Many home designs with great rooms will have cathedral ceilings.
  • A tool similar to a small crowbar; used in small workspaces, or tight areas.
  • Caulk is used to fill gaps. It is a flexible material that is designed to stretch before hardening during the drying process.
  • A notice on title proclaiming a possible interest other than that of an owner.
  • The maximum allowable interest rate of an adjustable-rate mortgage.
  • A wood or steel beam positioned horizontally between the top sides of the wall frame. Finished ceiling material and rafters are nailed to these beams for support.
  • Cement is the adhesive element of concrete.
  • Sometimes called cement backer board or a glass mesh mortar unit; made specifically for use under ceramic tile.
  • A fire or glazed clay tile is used for flowing, showers, and/or walls.

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*LYNK Capital, LLC operates as LYNK Investments, LLC in the state of Texas.

Disclaimers: LYNK Capital makes loans solely for business purposes (and not for personal or consumer use) and is exempt from licensing in all states in which it operates. LYNK Capital, LLC does not lend on owner-occupied properties. Listed rates, terms, and conditions are offered only to qualified borrowers, may vary by loan product, deal structure, property state, or other applicable considerations, and are subject to change at any time without notice. No information on this site is intended to, or shall, created a legally binding commitment or obligation on the part of LYNK Capital, LLC, and all terms are expressly subject to LYNK Capital's credit, legal, and investment approval process.