A B C D E F G H I J K L M
N O P Q R S T U V X W Z

C

Caps (interest)
Consumer safeguards which limit the amount the interest rate on an adjustable mortgage may change per year and/or the life of the loan.
Caps (payment)
Consumer safeguards which limit the amount monthly payments on an adjustable rate mortgage may change.
Certificate of Eligibility
The document given to qualified veterans which entitles them to VA guaranteed loans for the homes, businesses, and mobile homes. Certificates of eligibility may be obtained by sending DD-214 (Separation Paper) to the local VA office with a VA form 1880 (request for Certificate of Eligibility).
Certificate of Occupancy
A certificate issued by a local government body stating that the building is in a condition to be occupied.
Closing (escrow)
The meeting between the buyer, seller, and lender at the agent's escrow company where the property and funds legally change hands. Also called a settlement meeting or escrow closing.
Closing Costs
Usually include an origination fee, discount points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, credit report charge and other costs assessed at settlement.
Cloud on Title
An evidence of encumbrances.
Commitment
An agreement, often in writing, between a lender and a borrower to loan money at a future date subject to the completion of paperwork or compliance with stated conditions.
CC&R's
Covenants, conditions, and restrictions. The basic rules establishing the rights and obligations of owners of real property within a subdivision or other tract of land in relation to other owners within the same subdivision or tract and in relation to an association of owners organized for the purpose of operating and maintaining property commonly owned by the individual owners.
Conventional Loans
A mortgage not insured by FHA or guaranteed by the VA or Farmers Home Administration (FMHA).