We hope this Glossary of Mortgage and Real Estate Terms helps you understand the home buying and financing process. Should you have any further questions, please do not hesitate to contact your Loan Officer for answers.

# A B C D E F G H I J K L M N O P Q R S T U V W XYZ

XYZ Terms

Yield: A measurement of the rate of return from an investment.

 

Yield to Maturity: A rate of return on an investment considering all inflows and outflows of and investment and their timing.

 

Zero Lot Line: A form of cluster housing in which each individual structure is placed on a separately platted lot, but are attached to one another.  Most cities have downtown buildings which touch/or are attached, yet are on separately deed lots as there are no setback requirements to space the buildings from the lot lines.  This is zero lot line zoning.

 

Zone: An area set off by local ordinance for specific use and subject to certain restrictions and conditions, such as commercial use, single family use, etc.

 

Zoning: A legal mechanism for local governments to regulate the use of privately owned real estate by specific application of police powers to prevent conflicting land use and promote orderly development.  All privately owned property within a jurisdiction is subject to restrictions placed within certain zones that limited the type and intensity of development permitted in that zone.  For example, a zone may be limited to single family structures only, ruling out a commercial building without a variance.  Zoning may also dictate minimum setbacks from the street or minimum lot size.  Some local governments even restrict the colors a structure may be painted

 

Zoning Map : A map of the local jurisdiction that indicates the varies zones and their zoning designations.