| Term | Definition |
|---|
| calendar Year | A year using the actual number of days in each month for a total of 365 days in a year (366 days in a leap year). |
| cap | The maximum allowable increase, for either payment or interest rate, for a specified amount of time on an adjustable rate mortgage. |
| capital gains | The profit on the sale of a capital asset, such as stock or real estate. If you sell your primary residence, you can exclude $250,000 in profit from capital gains tax. A couple can exclude $500,000. |
| capitalization | The estimation of the value of income producing property by dividing the annual net income by the capitalization rate. |
| capitalization rate | The rate of expected return on investment property. A ratio of income to value. |
| cash Out | Receiving money back when refinancing your present mortgage. |
| CC&R | See covenants, conditions & restrictions. |
| CCCS | See Consumer Credit Counseling Service. |
| ceiling | The maximum allowable interest rate over the life of the loan of an adjustable rate mortgage. |
| census | An official count of the number of people living in a certain area, such as a district, city, county, state, or nation. The United States Constitution requires the federal government to perform a national census every ten years. The census includes information about the respondents' sex, age, family, and social and economic status. |
