R-value
A measure of a material's resistance to heat loss, usually applied to insulation products. The higher the R-value, the slower the rate of heat loss.

Radiant heating
A form of home heating delivered by electric-resistance elements--either wall registers or cables or foils beneath the flooring or above the ceiling--or via hot water circulated through in-the-floor tubing or room radiators.

Radon
A ground-generated radioactive gas that seeps into some homes through sump pumps, cracks in the foundation and other inlets. A leading cause of lung cancer , radon is found in mostly the northern half of the country.

Rafter
Rafters form the slope of a pitched roof and are analogous to floor joists.

Rails
The horizontal structural members of a door. Most doors have a top rail, a bottom rail, and a center rail connected at both ends to vertical stiles.

Rammed-earth construction
An alternative building process in which dirt is compacted into large structural frames to create walls.

Ranch style
Modern ranch-style homes, popularized in the 1950s, were championed by such architectural giants as Frank Lloyd Wright.

Rate cap
The maximum interest rate charge allowed on the monthly payment of an adjustable rate mortgage during an adjustment period.

Rate Lock
A commitment issued by a lender to a borrower or other mortgage originator guaranteeing a specified interest rate for a specified period of time at a specific cost.

Rate type
Rate type determines if and how payments adjust over the loan term. Available rate types include fixed-rate, balloon, and adjustable-rate.

Rate-improvement mortgage
A loan with a clause that entitles a borrower to a one-time cut in the interest rate without going through refinancing.

Real Estate Agent
A real estate agent is a person licensed to negotiate and transact the sale of real estate

Real estate broker
A person, corporation, or partnership licensed by a state to represent a buyer or seller in a real estate transaction in exchange for a commission. Brokers supervise licensed sales agents, who then act for the broker (who is legally the principal agent in any transaction).

Real estate investment trust (REIT)
Publicly traded companies that own, develop, and operate commercial properties.

Real estate investment trusts (REIT)
The trusts are publicly traded companies that own, develop and operate commercial properties.

Real estate professional
Any real estate broker, sales agent, or attorney who holds a real estate license.

Real Estate Settlement Procedures Act (RESPA)
A consumer protection law that requires lenders to give borrowers advance notice of closing costs.

Real Property
Land and appurtenances, including anything of a permanent nature such as structures, trees, minerals, and the interest, benefits, and inherent rights thereof.

Realtist
A designation for an agent or broker who is a member of the National Association of Real Estate Brokers.

Realtor
A designation for an agent or broker who is a member of the National Association of Realtors.

Realtor®
A real estate agent, broker or an associate who holds active membership in a local real estate board that is affiliated with the National Association of Realtors.

Recission
The cancellation of a contract by law or consent by the parties involved.

Reconveyance
When a borrower completely pays off the mortgage, the property is reconveyed to them from the lender.

Reconveyance Clause
The clause in a trust deed that gives the title back to the borrower when the loan is paid in full.

Recorder
The public official who keeps records of transactions that affect real property in the area. Sometimes known as a "Registrar of Deeds" or "County Clerk."

Recording
The noting in the registrar’s office of the details of a properly executed legal document, such as a deed, a mortgage note, a satisfaction of mortgage, or an extension of mortgage, thereby making it a part of the public record.

Recording fee
A fee charged by real estate agents for conveying the sale of a piece of property into the public record.

Redlining
The practice by a bank or insurance company to deny credit or insurance to people based on ethnic background or neighborhood.

Refinance Transaction
The process of paying off one loan with the proceeds from a new loan using the same property as security.

Refinancing
The process of replacing an older loan with a new mortgage that has better terms.

Regression
The principle that the value of a better-quality property is adversely affected by the proximity of a lesser-quality property.

Regulation Z
A truth-in-lending provision that requires lenders to reveal the actual costs of borrowing.

Rehabilitation mortgage
A mortgage that provides for the costs of repairing and improving a resale home or building.

Release clause
A provision in a purchase contract that allows a seller to continue marketing their home and accept other offers.

Relocation benefits
Employer-provided benefits for new employees. These benefits can include moving costs, reimbursement for temporary housing and transportation, real estate agent assistance, and discounted loans.

Relocation company
A firm that administers all aspects of moving in new employees to the community.

Remaining Balance
The amount of principal that has not yet been repaid. See principal balance.

Remaining Term
The original amortization term minus the number of payments that have been applied.

Rent Loss Insurance
Insurance that protects a landlord against loss of rent or rental value due to fire or other casualty that renders the leased premises unavailable for use and as a result of which the tenant is excused from paying rent.

Rent-Loss Insurance
Insurance that protects a landlord against loss of rent or rental value due to fire or other casualty, resulting in the tenant being excused from paying rent.

Renter insurance
A policy that covers the replacement value of possessions.

Repayment Plan
An arrangement made to repay delinquent installments or advances.

Replacement cost
The current cost of rebuilding a structure to its original specifications.

Replacement Reserve Fund
A fund set aside for replacement of common property in a condominium, PUD, or cooperative project -- particularly that which has a short life expectancy, such as carpeting, furniture, etc.

Repointing
Replacing damaged mortar in the joints between bricks or stones.

Repossession
When a house is repossessed, it is taken back by the lender holding the mortgage.

Resale value
A property's future value, which can be affected by many factors including the surrounding neighborhood, school district scores, and economic and housing market conditions.

Rescission
The cancellation of a contract by law or consent from the parties involved.

Reserve fund
Money set aside by a homeowners' association for major repairs or improvements.

Resilient channel
A channel run across wall studs underneath wallboard to reduce sound transmission.

RESPA (Real Estate Settlement Procedures Act)
A federal law designed to make sellers and buyers aware of settlement fees and other transaction-related costs. RESPA also outlaws kickbacks in the real estate business.

Restructured loan
A mortgage in which new terms are negotiated.

Return on investment
The amount of profit a property generates.

Reverse mortgage
A special type of loan available to equity-rich, older owners. Repayment is not necessary until the borrower sells the property or moves into a retirement community.

Revolving Debt
A credit arrangement, such as a credit card, that allows a customer to borrow against a pre-approved line of credit when purchasing goods and services. The borrower is billed for the amount that is actually borrowed plus any interest due.

Ridge board
A horizontal board that serves as the apex of the roof structure.

Ridge vent
A vent located along the ridge board of the roof that allows moisture to escape.

Right of first refusal
An agreement by a property owner to give another person the right to buy or rent the property before it goes on the open market.

Right of Ingress or Egress
The right to enter or leave designated premises.

Right of Refusal
A provision in an agreement that requires the owner of a property to give another party the first opportunity to purchase or lease the property before he or she offers it for sale or lease to others.

Right of Survivorship
In joint tenancy, the right of survivors to acquire the interest of a deceased joint tenant.

Right of way
The right to pass over or use another's land.

Right to rescission
A provision in the federal Truth in Lending Act that allows borrowers to cancel certain kinds of loans within three days of signing.

Riparian rights
An owner's right to use a river, stream, or lake bordering the owner's property.

Riser
Vertical boards between the steps of a stairway.

Rocker switch
An electrical switch operated by tapping the top or bottom of the control plate.

Roof sheathing
Flat boards nailed to the rafters to which a covering is fastened.

Rough-in
The installation of plumbing, electrical and other mechanical systems.

Rural Housing Service
A U.S. Department of Agriculture program that provides financing to farmers and certain borrowers to purchase rural property when other funds are not available.

RV pad
A large concrete pad designated for parking a recreational vehicle.