Glossary in letter r

R-value
A measure of a materials resistance. E.g.: heat loss, usually applied to insulation products. The higher the R-value, the slower the rate of heat loss.
Radiant heating
A heating system which heats a building through radiant heat, rather than other conventional methods including convection heating. The heat energy is emitted from a warm element (floor, wall, overhead panel) and warms people and other objects in rooms rather than directly heating the air.
Radon
A ground-generated radioactive gas that seeps into some homes through cracks in the foundation and other inlets. Warning Very Hazardous!!!
Rate cap
The maximum interest rate charge allowed on the monthly payment of an adjustable rate mortgage during an adjustment time frame.
Rate lock
A lenders commitment to a borrower to guarantee (or "lock in") a specific interest rate for a amount of time.
Rate type
Rates that determines if and how payments adjust over the loan term. Available rate types include fixed-rate, balloon, and adjustable-rate.
Rate-improvement mortgage
A loan with a clause that entitles a borrower to a one-time interest rate cut without going through refinancing.
Real estate
Real estate or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings.
Real estate agent
A licensed person by a state to represent a buyer or a seller in a real estate transaction in exchange for a commission.
Real estate brokers
A person, corporation, or partnership licensed by a state to represent a buyer or seller in a real estate transaction in exchange for a commission. Brokers supervise licensed sales agents, who then act for the broker (who is legally the principal agent in any transaction).
Real estate investment trust (REIT)
Publicly traded companies that own and develop commercial properties.
Real Estate Settlement Procedures Act (RESPA)
A federal law assigned to make sellers and buyers aware of settlement fees and other transaction-related costs.
Real property
Land including all the permanent fixtures on it, including buildings, trees, and other fixtures.
Realtist
A title for an agent or broker who is a member of the National Association of Real Estate Brokers.
Realtor
Another title for an agent or broker who is a member of the National Association of Realtors.
Reconveyance
A lenders act of conveying a property back to a borrower who has completely paid off his or her mortgage.
Redlining
An illegal practice by a bank or insurance company that denies credit or insurance to people based on ethnic background or neighborhood.
Refinancing
The process of replacing an older mortgage with a new mortgage that has better terms.
Regression
The principle that the value of a better-quality property is adversely affected by the proximity of a lesser-quality property.
Rehabilitation mortgage
A mortgage that provides for the costs of repairing and improving a resale home or building.
REIT (real estate investment trusts)
Publicly traded companies that own, develop, and operate commercial properties.