Today's Real Estate Dictionary

A service of Fort-Worth-Appraiser.us   Enjoy!

:

MORTGAGE INSURANCE PREMIUM (MIP) - The amount paid for FHA mortgage insurance. When paid to a private company, it is commonly referred to as Private Mortgage Insurance (PMI).


MARKET VALUE - The highest price a willing buyer would pay and a willing seller accept, both being fully informed, and the property exposed for a reasonable period of time.

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