Definition of the term Convertibility
The ability to change a loan from an adjustable rate schedule to a fixed rate schedule.
The ability to change a loan from an adjustable rate schedule to a fixed rate schedule.
A mortgage loan not insured by a government agency (such as FHA or VA).
A method of transferring heat by the actual movement of heated molecules, usually by a freestanding unit such as a furnace.
A control joint controls or accommodates movement in the surface component of a roof.
An individual licensed to perform certain types of construction activities. In most states, the generals contractor's license and some specialty contractor's licenses don't require of compliance with bonding, workmen's compensation and similar regulations. Some of the specialty contractor licenses involve…
An electrical tool used to identify and diagnose a circuit as either open or closed.
Ongoing education, often a requirement for membership in a home inspection association. For example, NACHI's continuing Education Policy.
A type of construction in which the structural parts are wood or depend upon a wood frame for support. In codes, if masonry veneer is applied to the exterior walls, the classification of this type of construction is usually unchanged.
A loan provided by a lending institution specifically to construct or renovate a building.
A type of construction in which the interior wall finish is applied in a dry condition, generally in the form of sheet materials or wood paneling as contrasted to plaster.