Fax Rider: A legal document authorizing a document sent via facsimile transmission (fax) to be accepted in lieu of the original.
Feedback: Commentary requested by a listing agent from a real estate agent and/or client about their thoughts on a property.
Federal Housing Administration (FHA): An agency of the federal government that insures private first-mortgage loans for the financing of new and existing homes and home repairs, and does not permit second mortgages on insured mortgage loans.
FHA Loan: A loan program insured by the FHA obtained through an FHA-approved lender.
FHA Mortgage Insurance: A mortgage insurance program insured by the FHA obtained through an FHA-approved lender
Federal National Mortgage Association (FNMA): Better known as Fannie Mae. It is a congressionally chartered, shareholder-owned company that is the nation’s largest supplier of home mortgage funds.
Fee Simple: The highest level of home ownership attainable, providing the owner complete ownership and the full power of disposition.
Finance Charge: The cost for a borrower to obtain credit, whether directly or indirectly.
Fixed Rate: A mortgage with an unchanging interest rate for the life of the loan.
Fixture: Property that is personal but has become a permanent part of the property.
Flat Fee: A set fee that is predetermined for specific real estate services.
Flood Insurance: Insurance for flooding that must be pre-paid annually for a property in a FEMA-designated flood zone.
Flood Insurance Escrow: If required, it is the monthly amount collected in advance for Flood Insurance.
Floor Duty or Time: A specified time that a real estate agent is available to handle inquiries.
For Sale By Owner: When the property owner is attempting to sell their house with the services of an agent.
FSBO: An acronym for “For Sale By Owner.”