COMBINED MONTHLY HOUSING EXPENSE >> Monthly expenses for the customer’s primary residence, which include rent or mortgage payments, other financing, hazard and flood insurance, mortgage insurance, real estate taxes, utilities and homeowner association dues.

COMMERCIAL PROPERTY >> A property used for business purposes.

COMMUNITY PROPERTY >> Property owned equally by a husband and wife. This classification of property is only used in certain states.

COMPARABLE (COMP) >> Properties used to determine the value of a specific property for comparative purposes in the preparation of an appraisal.

CONCESSION >> Special or unusual terms offered by the seller that may warrant the buyer paying a higher price for the property.

CONDOMINIUM (CONDO) >> A residential property with 2 or more units where each unit owner holds title to a unit and an undivided interest in the common areas of the project.

CONDOMINIUM ASSOCIATION >> An association of owners of condominium units.