An FHA Mortgage Loan is a mortgage loan insured by the Federal Housing Administration (FHA), designed to help lower and moderate-income individuals qualify for homeownership. This type of loan allows borrowers to make a lower down payment and can be more lenient on credit scores compared to conventional loans.
In real estate terms, a Flat can refer either to a single-level apartment or a type of mortgage or lease with level payments.
A Granny Flat is a self-contained living area located on the same property as a larger, primary residence. Often named for its common use as a living space for elderly family members, such as grandparents, it is also known as an Accessory Apartment or Mother-in-Law Suite.
Group quarters refer to types of housing where unrelated groups of people live together for specific purposes such as education, military service, or healthcare.
Housing refers to structures intended for residential use. It encompasses various types of dwellings from single-family detached houses to multi-unit apartments.
Residential refers to properties intended for people to live in, which includes housing projects such as single-family homes, condominiums, apartments, and townhouses.
A Residential Broker facilitates the buying, selling, or leasing of residential properties such as houses or condominiums, providing essential services to both buyers and sellers.
A tract house refers to a dwelling that shares a similar style and floor plan with other houses in a development. This type of construction is commonly used in subdivisions and is often associated with mass production techniques.
