HELOC EXPERT GLOSSARY

Glossary: R

Browse terms beginning with R and move through the full A–Z home-equity and mortgage glossary.

Terms Starting with R

Each letter has its own permanent glossary page for easier browsing and linking.

A limit on how much an adjustable interest rate can change during specified periods or over the life of a loan.

A minimum interest rate that may apply under a variable-rate loan formula.

An agreement to hold specified loan pricing for a limited period, subject to the lender’s terms.

A refinance primarily intended to change loan rate, term or structure rather than provide substantial cash to the borrower.

A loan feature that can allow a lender to pursue a borrower's other assets or obligations beyond the collateral, subject to law and agreement.

Obtaining a new loan to pay off and replace an existing loan.

A required period that may need to pass before a loan or property becomes eligible for certain refinance programs.

A list or analysis of rental units, contracted rents and related property income information.

The amount of reserves or insurance protection intended to absorb periods when rental income is interrupted.

Documentation or appraisal analysis used to estimate or report market rent.

The period after a HELOC draw period when additional draws generally stop and the outstanding balance is repaid according to the account terms.

The estimated cost to rebuild or replace insured improvements without deducting for depreciation.

For certain transactions secured by a principal dwelling, federal law may provide a limited right to cancel after closing, subject to exceptions.

A lender requirement that a borrower retain a specified amount of liquid assets after closing.

Funds a lender may require a borrower to retain after closing, often measured in months of specified expenses or payments.

Credit that can generally be borrowed, repaid and borrowed again up to an available limit under the account terms.