Master the language of real estate with this comprehensive guide! Whether you're navigating the buying or selling process, simply expanding your knowledge, this guide clarifies real estate terminology for home buyers, sellers, homeowners, and beyond!
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Real Estate:
ARV: After Repair Value
BRRRR: Buy, Rehab, Rent, Refinance, Repeat
CMA: Comparative Market Analysis
DOM: Days on Market
EMD: Earnest Money Deposit
FSBO: For Sale By Owner
GRM: Gross Rent Multiplier
HOA: Homeowners Association
IRA: Individual Retirement Account
JTWROS: Joint Tenants with Right of Survivorship
KW: Keller Williams Realty
LTV: Loan-to-Value
MLS: Multiple Listing Service
NAR: National Association of Realtors
OBO: Or Best Offer
PITI: Principal, Interest, Taxes, Insurance
QOZ: Qualified Opportunity Zone
ROI: Return on Investment
SFR: Single Family Residence
TIC: Tenant In Common
USDA: United States Department of Agriculture
VRBO: Vacation Rental By Owner
W-2: Wage and Tax Statement
Xome: Online Real Estate Auction Platform
YTD: Year-to-Date
Zillow: Online Real Estate Marketplace
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Mortgage:
APR: Annual Percentage Rate
ARM: Adjustable Rate Mortgage
DTI: Debt-to-Income Ratio
FHA: Federal Housing Administration
FRM: Fixed Rate Mortgage
GFE: Good Faith Estimate
HELOC: Home Equity Line of Credit
LTV: Loan-to-Value
MIP: Mortgage Insurance Premium
PITI: Principal, Interest, Taxes, Insurance
PMI: Private Mortgage Insurance
VA: Department of Veterans Affairs (also used for VA Loans)
Real Estate Investment:
BRRRR: Buy, Rehab, Rent, Refinance, Repeat
CAP Rate: Capitalization Rate
COO: Certificate of Occupancy
DSCR: Debt Service Coverage Ratio
FIRE: Financial Independence, Retire Early
IRR: Internal Rate of Return
NOI: Net Operating Income
REI: Real Estate Investment
REIT: Real Estate Investment Trust
ROI: Return on Investment
1031 Exchange: Section 1031 Like-Kind Exchange
MLS: Multiple Listing Service
Understanding these acronyms can be instrumental for anyone involved in real estate transactions, from buyers and sellers to real estate professionals and investors. 🏡
- My Home, My Sale
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