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Houston Mortgage > Glossary >
Home Equity > M 1-10
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Margin
Expressed as percentage points, the amount that a lender adds to an index to arrive at the final interest rate. For example, if the index is 9 percent and the margin 2.75 percent, the final interest rate is 11.75 percent.
Expressed as percentage points, the amount that a lender adds to an index to arrive at the final interest rate. For example, if the index is 9 percent and the margin 2.75 percent, the final interest rate is 11.75 percent.
Market conditions
Factors that affect the sales of homes in an area, such as interest rates, the unemployment rate, home appreciation, weather and time of year.
Market value
The price at which a given property or product sells between a willing, unpressured buyer and seller who know all the pertinent facts about the property or product.
Master-planned community
A large development that features neighborhoods, parks and other recreation areas, schools and shopping centers. There often is an entrance, sometimes guarded and gated.
Maturity
The date on which the principal balance of a loan becomes due and payable. It also marks the date when a bond pays off its principal.
Maximum financing
A mortgage made on a property in which the lender¡¯s lowest permissible down payment has been made.
Meals and Entertainment
Expenses that are deductible in your business may include meals and entertainment, such as the cost of taking a client to a restaurant and a sporting event. These expenses, however, are only partially deductible (55 percent this year) unless they meet certain exceptions.
Mechanic's lien
A legal claim against property for payment of services or goods provided by someone who performed work on the property.
Mechanical systems
A house¡¯s heating, cooling, plumbing and electrical apparatus.
Median price
In a given area, the amount paid for a house in which half of the houses in that area sell for less and half sell for more.
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