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English – Spanish | Español – Inglés GLOSSARY

English Spanish | Espa ol ingl sGLOSSARY OF REAL ESTATE INDUSTRY TERMST RMINOS DE LA INDUSTRIA INMOBILIARIAE nglish Spanish | Espa ol ingl sGLOSSARY OF REAL ESTATE INDUSTRY TERMST RMINOS DE LA INDUSTRIA INMOBILIARIAN ational Association of Hispanic Real Estate Professionals ACKNOWLEDGEMENTSThis publication was a substantial undertaking, requiring the support and collaboration of many individuals. The aggregate list of terminology and their corresponding translations are the result of many painstaking hours of work from paid consultants and a volunteer committee of successful real estate practitioners, mortgage banking and housing executives who discussed, debated, and ultimately arrived at consensus on inclusion of various terms . The committee was selected based on their strong language capabilities, national origin and familiarity with the terminology most frequently used in real estate and mortgage transactions.

English – Spanish | Español – Inglés GLOSSARY OF REAL ESTATE INDUSTRY TERMS TÉRMINOS DE LA INDUSTRIA INMOBILIARIA National Association of Hispanic Real Estate Professionals®

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Transcription of English – Spanish | Español – Inglés GLOSSARY

1 English Spanish | Espa ol ingl sGLOSSARY OF REAL ESTATE INDUSTRY TERMST RMINOS DE LA INDUSTRIA INMOBILIARIAE nglish Spanish | Espa ol ingl sGLOSSARY OF REAL ESTATE INDUSTRY TERMST RMINOS DE LA INDUSTRIA INMOBILIARIAN ational Association of Hispanic Real Estate Professionals ACKNOWLEDGEMENTSThis publication was a substantial undertaking, requiring the support and collaboration of many individuals. The aggregate list of terminology and their corresponding translations are the result of many painstaking hours of work from paid consultants and a volunteer committee of successful real estate practitioners, mortgage banking and housing executives who discussed, debated, and ultimately arrived at consensus on inclusion of various terms . The committee was selected based on their strong language capabilities, national origin and familiarity with the terminology most frequently used in real estate and mortgage transactions.

2 We are ever grateful for their efforts on this project. The synthesis of those terms into a cohesive GLOSSARY , presented in a format that is organized and easy to reference was an in-house effort by dedicated NAHREP staff members who, time and again, impress us with their work ethic. Many thanks for the team effort on this first edition of the NAHREP English - Spanish GLOSSARY of Real Estate Industry COMMITTEEC hairman: Jerry Ascencio, Broker/Owner San Fernando Realty, Mission Real EstateProject Manager: Marisa Calderon, Executive Director, NAHREP Luis Padilla, Broker/Owner, RE/MAX Oceanside Realty Jose Pascual, Executive Vice President, BBVA Compass Mauricio Perez-Vasquez, Broker, Keller Williams Realty Nelson Ramos, Multicultural Business Manager, Radian Guaranty Omar Tejeda, Systems & Logistics Director, NAHREP Miguel Villegas, Sr. Project Manager of Business Development, Quicken Loans Maria Zywiciel, President, NAHREP Consulting ServicesNAHREP PRODUCTIONG raphic Design: Samira RashanEditing: Jerry Ascencio, Marisa Calderon, Cynthia Rodriguez, Omar Tejeda PREFACEA home purchase is widely recognized as the most signifi cant fi nancial transaction most people will make in their lives.

3 From the conversation that takes place the fi rst time a prospective home buyer meets with his/her agent, to completing the loan application, to signing closing documents, the home purchase experience and overall transaction includes use of precise technical terminology, much of which is unfamiliar to most consumers. For individuals who either prefer to speak Spanish or only speak Spanish , this already complex transaction can become overwhelming. In a recent NAHREP survey, top producing Latino agents and loan offi cers indicated that 40 percent of their transactions make use of Spanish at some point in the transaction and as much as 25 percent of all transactions utilize Spanish exclusively as the means of communication. In an already complex and increasingly regulated environment, NAHREP saw the need to provide guidance and consistency on Spanish -neutral translations of the words and phrases used most frequently over the course of a real estate transaction.

4 Because everyday dinner table discussion in Spanish does not include use of technical fi nancial terms , this GLOSSARY diff erentiates itself by further providing colloquialisms which many consumers might use in conversation with their real estate agent or loan offi cer. As industry needs change, we also intend to update this GLOSSARY in future editions so it might serve as a comprehensive guide to corporations, government, real estate practitioners and others within the housing industry. I m proud to present the fi rst of many editions of this living resource for our ,Gary AcostaNAHREP Co-founder & CEOE nglish Spanish2english | formal Spanish | colloquial Spanish #1-4 Family Ridercl usula adicional sobre viviendas de1-4 unidadesadjustable rate notepagar con tasa de inter s ajustablepagar de inter s variableadjustable rate ridercl usula adicional sobre tasa de inter s ajustablecl usula adicional sobre tasa de inter s variableadjusterajustadoradjustment datefecha de ajusteadjustment interval; adjustment periodintervalo de ajuste; per odo de ajusteadministrative orders rdenes administrativasadvance directivesvoluntades anticipadas; directrices avanzadasadverse actionacci n adversaadministrative rulesdisposiciones administrativasaffidavitdeclaraci n juradaaffinity fraudfraude por afinidadaffordability analysis; affordability analyzeran lisis de capacidad de pago.

5 Analizador de capacidad de pagoAaccelerationvencimiento anticipadoacceleration clausecl usula de vencimiento anticipadoaccountantcontador; contableactual cash valuevalor real de mercado; valor actual en efectivoaddendumanexo al contratoanexoadditional principal paymentpago adicional de capitalpago adicional al saldoadd-onsadicionales; a adidosadjustable rate tasa de inter s ajustable; tarifa ajustableinter s variableadjustable rate mortgagehipoteca con tasa de inter s ajustablehipoteca de inter s variable3 NAHREP GLOSSARY OF REAL ESTATE INDUSTRY TERMSAPPRAISAL CONTINGENCY affordableasequibleaffordable housingvivienda a precio asequiblevivienda con precio accesibleagent (general, should be qualified)agenteagreementacuerdo; contrato agreement of saleacuerdo; contrato de compraventacontrato de ventaaid and attendanceayuda y asistenciaalimonypensi n alimenticiapensi n; manutenci n alimenticia conyugalallocateasignarallowable debt paymentspagos de deuda permitidosAmericaEstados Unidos de Am rica; UnidosAmerican Dream (of homeownership)el sue o americano de la casa propiael sue o americanoAmerican(s)habitante(s) de los Estados Unidos de Am rica; estadounidense(s)Americanos(as)amendment enmiendaamortizationamortizaci namortization scheduleprograma de amortizaci ntabla de amortizaci namortizeamortizaramountcantidad; montoannual percentage rate (APR)tasa de porcentaje anualcosto real del prestamoannuityanualidadapplicable lawley aplicableapplysolicitar (un pr stamo); aplicar (un pago)pedir un prestamoappraisaltasaci n; aval ovaluaci n; evaluaci nappraisal contingencycontingencia de tasaci ntasaci n; eval o; evaluaci n4english | formal Spanish | colloquial spanishAPPRAISAL REPORT appraisal reportinforme de tasaci nreporte de valuaci n; evaluaci nappraisertasadorvalorador.

6 Evaluador; perito evaluadorappreciateapreciar (en valor)aumentarden valor; aumento de valorappreciationapreciaci nplusval aappurtenancespertenenciasarbitrationarb itraje; mediaci narea reazonaARMhipoteca con tasa de inter s ajustablepr stamo de inter s variableasking priceprecioassent to decreeorden judicial consensuadaassessed valuevalor fiscal; tasaci n fiscalvaluaci n fiscal; valor viscalassessing the value of the propertytasar la propiedadvaluar la propiedad; evaluar la propiedadassessmenttasaci nassetsactivos; bienesassignmentcesi nasignaci nassignment of mortgagecesi n de hipotecaasignaci n de pr stamo; asignaci n de hipoteca assisted living facilityinstituci n de vivienda asistidaassumable mortgagehipoteca asumiblepr stamo asumibleassumptionasunci nassumption agreementacuerdo de asunci n de deudaassumption feecargo por asunci n de deudaautomated clearinghouse transferstransferencias autom ticas por c mara de compensaci n bancariaattachment; attachment of assetsembargo.

7 Embargo de bienes5 NAHREP GLOSSARY OF REAL ESTATE INDUSTRY TERMSBASIS POINT attorney-in-factapoderadoenpoderadoauto insuranceseguro de autom vilesaseguranza de autoautomated teller machine transactionstransacciones por cajero autom ticoautomated underwritingevaluaci n automatizada de la solicitud del pr stamo hipotecarioautomatic bill pay systemsistema autom tico de pago de facturassistema autom tico de pago de bilesattain priorityadquirir prioridadaveragepromedioaverage paymentpago promedioaverage priceprecio promedioaward of damagesindemnizaci n por da os y perjuiciosbackground checkverificaci n de antecedentesrevisi n de antecedentesbalancesaldomontobalance sheetbalance general; balance contable; estado financieroballoon loanpr stamo con pago globalpr stamo con pago totalballoon mortgagehipoteca con pago globalpr stamo con pago totalballoon paymentpago globalballoon ridercl usula adicional sobre pago globalcl usula adicional sobre pago totalbank accountcuenta bancariabankruptcyquiebra; bancarrotabase incomesalario base; ingreso basebasis pointpunto base; cent simo de punto porcentual (.)

8 01%)Bback-end ratiorelaci n entre los pagos mensuales de deudas y los ingresos mensuales; VER total debt-to-income ratio6english | formal Spanish | colloquial spanishBEFORE-TAX INCOME before-tax incomeingreso antes de impuestosingreso en brutobeneficial interestderecho de usufructobeneficial ownerusufructuariobeneficiarybeneficiari obill facturacobro; bil biweekly mortgagehipoteca con pago cada dos semanasbiweekly paymentpago cada dos semanasbiweekly payment ridercl usula adicional sobre hipoteca con pago cada dos semanasblanket mortgagehipoteca colectivaboarderpensionista; alojado; inquilinorentero; hu spedboarder incomeingresos de pensionistasingresos de hu sped; ingresos de renteroboard rentingresos contribuidos por pensionistas, alojados o inquilinosla renta del inquilino o renterobondsbonosbonusbonificaci n; incentivosbonoborrowerprestatariodeudorb orrower's promise to paypromesa de pago del prestatariopromesa de pago del deudorborrowing powercapacidad crediticiacapacidad de deudabridge loan pr stamo temporalbrokercorredor; agente de bolsacorredor de bienes ra cesbrokerage accountcuenta del corredorbudgetpresupuestobuilding codec digo de construcci nbuilding code regulationsreglamento del c digo de construcci nbuilding inspection servicesservicios de inspecci n de construcci nservicios de inspecci n f sica; servicios de inspecci n de casa7 NAHREP GLOSSARY OF REAL ESTATE INDUSTRY terms cancellation rightsderecho de cancelaci ncapl mite m ximo; tope m ximocapital gainsganancias de capitalCHANGE DATE business daysd as laboralesd as de negociobusiness dealacuerdo comercialtratobuy down; buydownreducci n de la tasa de inter s por pago de punto(s) al originar un pr stamo.

9 Reducci n de tasa de inter s por pago adicional ( )comprar un inter s mas bajobuyercompradorbuyer's agentagente del compradorbuying powerpoder adquisitivo; capacidad de comprapoder de compraby-lawsestatutos; reglamentos internoscard provideremisor de tarjetas; proveedor de tarjetascard holder agreeementacuerdo del titular de tarjetacasecaso; causacase numbern mero de queja; n mero de reclamaci n n mero de casocash reservereserva de efectivocash; cash on hand; cash depositdinero (informal); efectivo; dep sito en efectivocash-out refinancerefinanciamiento con desembolso de efectivo; refinanciamiento con sobrante ( )certificate of completioncertificado de terminaci n de obrapermiso finalCertificate of Deposit (CD)Certificado de Dep sito (CD) dinero a plazocertificate of eligibilitycertificado de elegibilidadchange datefecha de cambioC8english | formal Spanish | colloquial spanishCHAIN OF TITLE chain of titlecadena de t tulohistorial de t tulochange orders rdenes de cambiocharge-off; charge-off accountcuenta llevada a p rdida; llevar a p rdida; calificar como incobrablechargescargos; VER feescobros; costos; recargoscharity appealssolicitudes de caridadcheckbookchequerachecking accountcuenta corriente; cuenta de chequeschild supportpensi n alimenticia para los hijosmanutenci nchoiceopci nclaimreclamo; reclamaci nclass-action lawsuitpleito de acci n de clase; pleito de acci n colectiva.

10 Demanda colectivaclausecl usulaclear titlet tulo de propiedad carente de defectost tulo limpioclosingcierreclosing agentagente de cierreclosing companycompa a de dep sito en reservacompa a de cierre; escrowclosing cost assistance programprograma de asistencia con los costos de cierreprograma de gastos de cierreclosing costscostos de cierregastos de cierreclosing datefecha de cierreclosing statementInforme de Operaci n de Cierre (HUD-1); Informe de Cierre (HUD-1)Declaraci n de Cierre (HUD-1)co-applicantfiador; avalco-borrowerfiador; avalco-debtorfiador; avalco-signerfiador; aval9 NAHREP GLOSSARY OF REAL ESTATE INDUSTRY TERMSCONDITION cognitive declinedeterioro mentalcollateralgarant acolateralcollectioncobrocolecci n; recaudocommercial bankbanco comercialcommercial propertypropiedad comercialcommissioncomisi nhonorarioscommitment lettercarta de compromisocommit wasterealizar un acto u omisi n que da e o de cualquier otra manera afecte el valor de la propiedadcommon areas reas comunescommon lawderecho com ncommunity association duescuotas de la asociaci n comunitariacommunity groupgrupo comunitarioCommunity Home Improvement Mortgage Loan (CHIML)Pr stamo Hipotecario para Mejoras de Viviendas en Comunidades (CHIML, por sus siglas en ingl s)Community Land Trust Mortgage Loan (CLTML)Pr stamo Hipotecario para Fideicomiso Inmobiliario Comunitario (CLTML, por sus siglas en ingl s)community propertybienes compartidos; bienes ganancialespropiedad en com ncomparative market analysis (CMA)an lisis comparativo de mercado (CMA, por sus siglas en ingl s)companycompa a; empresacompany responserespuesta de la compa a.


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