Free Real Estate Vocabulary Flashcards

Pass the real exam by knowing all of the vital real estate vocabulary terms that are crucial to passing the real estate licensing examination. Study all of the important real estate glossary terms and definitions, and pass with confidence!

Jumbo Loan

A loan greater than the amount allowable for purchase by a federal agency

Jumbo Loans

Loans that exceed the maximum amount established by Fannie Mae and Freddie Mac for conforming mortgage loans, making them nonconforming loans

Jumbo Va Loan

A loan for an amount greater than the allowable 100% financed amount It is determined by subtracting the maximum allowable 100% financed amount from …

Junction Box

A metal box used to enclose the meeting (junction) of electrical circuits, wires, and cables

Junior Lien

A lien which is subordinate to a prior lien

Junior Lienholder

Secured creditor with a lower priority lien than another lien on the same land

Junior Mortgage

Any mortgage of lesser priority than a first mortgage

Junk Value

See: Salvage Value

Jurat

(1) The certificate of an officer before whom a writing was sworn to, such as a notary public (2) That part of an affidavit …

Jurisdiction

The extent of the authority of a court, or other governmental branch or agency

Just Compensation

In condemnation the amount paid to the property owner The theory is that in order to be “just”, the property owner should be no …