What is the Definition of Purchase?



Definition: An event resulting in the conveyance of real estate. Usually, the purpose for which the loan request is being completed; options include Purchase, Refinance, Construction.

Pages that Mention Purchase

What is a Treasury Rate (Yield)?

The US Treasury Yield (also referred to as the Treasury Yield Curve Rates, Constant Maturity Treasury Rates, or CMTs) are calculated by the US Department of the Treasury from the daily yield curve. These  rates are essentially the return an investor would receive from the purchase of a US government debt obligation (i. e. a bill, note or bond); it is the interest rate that the government pays to the investors in order to borrow money for different lengths of time (i. e. 30 days, 60 days, 90 days, 6 months for short terms and 1, 2, 3, 5, 7, 10, 20, and 30 years for longer terms).

FHA Apartment Loans

FHA stands for the Federal Housing Administration. It is a federally guaranteed mortgage program under the Government’s Department of Housing and Urban Development, also known as HUD.  FHA loans can be used for the purchase, refinance, construction or substantial rehabilitation of either multifamily or healthcare properties.

CMBS Commercial Loans

CMBS loans can be used for the purchase or refinance for Commercial Real Estate properties, including Hotels, Industrial, Office, Multi-family, Medical, Mixed-Use, Retail, and Self-Storage

FHA Apartment Loans For Existing Properties - HUD Section 207/223(F) Mortgages

Section 207/223(f) insures mortgage loans by facilitating the refinancing or purchase of existing multifamily rental housing.

FHA Cooperative Housing Loans - HUD Section 213 Mortgages

Section 213 insures loans for the construction, purchase, and rehabilitation of cooperative living properties.

Freddie Mac Direct Purchase of Tax-Exempt Loans

This program provides a cost-effective alternative to tax exempt bond credit enhancements with 4% low-income housing tax credits.

Other Definitions