Definition
Net Operating Income
Rental income less all operating expenses, before debt service. The basis for cap rate.
Nearby terms
Mortgage-Backed Security
An investment instrument composed of pooled mortgages.
Negative Amortization
A situation in which the payment is insufficient to cover accrued interest, so the balance grows.
Non-QM Loan
A loan that does not meet the Qualified Mortgage standard, typically because income is documented differently.
Non-Warrantable Condo
A condominium that fails agency project standards — often due to investor concentration, litigation or inadequate reserves — requiring specialty financing.
Ready when you are
See your real numbers before you fall in love with a house.
Live rates, a full cost breakdown, and a pre-approval you can shop with. It takes a few minutes and it does not lock you into anything.
No fee · No obligation · Pre-approval typically under an hour · Call or text 24/7 · NMLS 2705737