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St. George Real Estate

St. George Real Estate

Anita Kay
Vista Real Estate

About Me


Get a list of homes in your price range and MLS updates by email. Request a relocation package or info on the southern Utah region and St. George, Utah real estate market.

Call 435-632-5491

Real Estate Glossary Term F – St. George Utah Real Estate

Fair Credit Reporting Act: A federal law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies, and establishes procedures for rectifying errors on individuals' credit records

Fair Housing Act: A federal law which prohibits discrimination in housing based on race, color, religion, sex, handicap, familial status and national origin

Fair market value: The highest price that a buyer, who is willing but not required to buy, would pay for a piece of property or home, and the lowest price that a seller, who is willing but not required to sell, would accept

Fannie Mae: The Federal National Mortgage Association (also FNMA), a private corporation which is federally chartered to provide financial products and services that increase the availability and affordability of housing, by purchasing mortgages from banks and other

Farmer's Home Administration (FmHA): A federal agency that provides credit assistance to farmers and other individuals residing in rural areas of the U.S.

Federal Deposit Insurance Corporation (FDIC): An independent federal agency that insures the deposits in commercial banks

Federal Home Loan Mortgage Corporation (FHLMC): A corporation established to purchase primarily conventional mortgage loans in the secondary mortgage market

Federal Housing Administration (FHA): An agency of the U.S. Department of Housing and Urban Development (HUD), whose function is the insuring of residential mortgage loans made by private lenders; while setting standards for construction and underwriting, the FHA itself does not lend money, o

Federal National Mortgage Association (FNMA): A governmental agency established to purchase any kind of mortgage loans in the secondary mortgage market from the primary lenders

Fee simple: The greatest interest in a parcel of land that is possible, or the total interest in real property

FHA insurance: Mortgage insurance provided by the Federal Housing Administration to protect banks, savings and loans, and mortgage companies against loss on real estate loans

FHA loan: A loan insured by the Federal Housing Administration, and made by an approved lender in accordance with the FHA's regulations

Fiduciary relationship: A relationship of trust and confidence, as between principal and agent, trustee and beneficiary, attorney and client

Finder's fee: A commission paid to a mortgage broker for sourcing a mortgage loan for a prospective borrower

First mortgage: A mortgage that is the primary lien against a property

Fixed-rate mortgage (FRM): A mortgage in which the interest rate remains fixed over the duration of the term of the loan

Fixture: Any item of property that is attached to real property such that it becomes a permanent part of the real property, and therefore is usually sold with it

Foreclosure: A legal proceeding usually initiated by the lender or creditors, involving a forced sale of a property owned by a borrower who has defaulted on payment of, or on the terms of, a loan on said property, and whereby the borrower is deprived of his or her int

Forfeiture: The loss of money, property, rights, or privileges due to a breach of legal obligation

Forfeiture of Title: The provision in a deed that accounts for title being passed to another, should certain terms not be met or certain circumstances occur

Freddie Mac: The Federal Home Loan Mortgage Corporation (also FHLMC), a private corporation that is federally chartered to purchases and sells mortgage loans; a major player in the secondary market, along with the Federal National Mortgage Associate (FNMA)

Front ratio: The ratio of a potential borrower's monthly housing costs to their gross monthly income, utilized by lenders to qualify an applicant for a loan; typically 28-40 percent is acceptable

Fully amortized ARM: An adjustable-rate mortgage (ARM) with a monthly payment that is sufficient to pay off the remaining balance at the interest accrual rate over the amortization term

Fully indexed note rate: Te index value at the time of application for an adjustable rate mortgage (ARM) plus the gross margin stated in the note


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