Facade
External front of a building that faces the street or courtyard and is usually used to describe bigger, elegant buildings. Facade materials include wood, brick, glass, masonry, aluminum, etc.

Facing
Covering of contrasting material to decorate or protect a building; a finished wall surface.

Fair Housing Act
Federal law making it illegal to refuse to rent or sell to anyone based on race, color, religion, sex or national origin. 1988 amendments expanded protections to include family status and disability.

Fair Market Value
Amount that could be received on the sale of real estate when there is a willing seller and buyer. It is a term generally used in property tax and condemnation legislation, meaning the market value of a property.

Feng Shui
Ancient Chinese philosophy, which believes that the positioning and physical characteristics of a home affect the fortunes of the owner.

Festoon
Any carved or molded decoration that is shaped like a wreath or garland of flowers, leaves, etc. hanging in a loop or curve. This horizontal decorations seems to span two points with a slight sag in the middle.

Fidelity Bond
Insurance coverage purchased by an employer to cover employees who are entrusted with valuable property or funds, to protect against specified losses arising from any dishonest act by these employees.

Fiduciary Duty
The holding in trust of something by one person for another. Also applies to legal, real estate and business relationships.

Final Value Estimate
Final property appraisal estimate arrived at the use of appropriate appraisal methods.

Finance Charge
Interest and any other charges, including points, that make up the fees incurred when borrowing money.

Financed Closing Costs
Costs for closing of title that are added to the loan amount rather than being paid up front. This practice adds to the amount borrowed, increasing the monthly payment.

Financial Calculator
Calculator which has numerous built-in financial functions including cash flow analysis, mortgage amortization, present and future yield, yield to maturity and many other business statistics and financial ratios.

Financial Feasibility
The ability of a proposed land use or change of land use to justify itself from an economic point of view.

Financial Statement
Report that shows income and expenses for an accounting period and normally consists of a balance sheet, income statement and statement of cash flows.

First Mortgage
Primary mortgage on a property, which takes priority over any other liens and is satisfied before any secondary liens.