Prospectus
Prospectus – David Reecher A document issued by a sponsor in the process of converting a building to a cooperative or condominium ownership. It is intended to provide “full disclosur... Read More
Pro-Rata Share
Pro-Rata Share – David Reecher In relation to a co-op, the pro-rata share is your apartment’s share of the building’s underlying mortgage. The share is determined by dividing t... Read More
Proprietary Lease
Proprietary Lease – David Reecher The lease issued by a cooperative corporation to each tenant-shareholder prescribing his or her right to occupy a specific apartment and his or her general obli... Read More
Price-Rent Ratio
Price-Rent Ratio – David Reecher The price-rent ratio is the average cost of ownership divided by the received rent income (if buying to let) or the estimated rent that would be paid if renting ... Read More
Price-to-Income Ratio
Price-to-Income Ratio – David Reecher It is the basic affordability measure for housing in a given area. It is generally the ratio of median house prices to median familial disposable inco... Read More
Price-to-Earnings Ratio (P/E Ratio)
Price-to-Earnings Ratio (P/E Ratio) – David Reecher The price-to-earnings ratio is the common metric used to assess the relative valuation of equities. To compute the P/E ratio in the case... Read More
Pre-Qualification
Pre-Qualification – David Reecher A pre-qualification is a process in which a loan officer calculates the housing-to-income ratio and the total debt-to-income ratio to determine an approximate m... Read More
Pre-Approval
Pre-Approval – David Reecher A pre-approval is a process in which a conditional commitment is issued after a loan profile is underwritten with all standard documentation except a property apprai... Read More