Real estate dictionary at Culmia Academy

At culmia we seek to facilitate decision making for people. As we know that buying a home is a complex process, we want to introduce you to Culmia Academy, a dictionary of terms related to the real estate sector that will help you to know concepts that you didn't know before.

Definitions with the letter F

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

Fixed-Rate Credit

Remains constant throughout the term of the contract, and therefore there is no uncertainty regarding the amounts of future instalments. The interest rate for fixed-rate loans is usually higher than the one for variable-rate loans.

License of First Occupancy

Is a document issued by the authorities, in this case the town or city council, once it has been verified that the construction or home has been executed in accordance with the project and conditions under which the licence is granted. This document certifies that the work and activities are finished and up to standard upon the basis of the urban planning, environmental and safety conditions.

A Fixed Interest Rate

In economics and finance is the rate agreed upon in a contract that establishes the return on savings or the cost of a credit or mortgage.

A First Residence

Is one which, due to its characteristics and location, is more likely to be used as a habitual residence.