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Negative Cash-Flow [back to top]
When operating costs exceed gross rental income or debts.
Net Operating Income [back to top]
The balance remaining after deducting the operating expenses from gross receipts and gross rental, but not including the deduction of debt service on mortgages. The "free and clear return" on property is calculated by the ratio of NOI to total investment including mortgages and equity. ("free and clear return" gives a direct means of comparing the return on different properties)
Net Rate of Interest [back to top]
The interest rate received by a mortgagee net of the servicing fee deducted by a loan correspondent, etc.
Net Worth [back to top]
The difference between what you own (assets) and what you owe (liabilities) is called your net worth.
Nominal Interest Rate [back to top]
The interest rate stated on the face on a loan document. Note that if the loan amount is discounted or sold at premium, the effective rate of interest will either be higher or lower.
Non-Recourse Loan [back to top]
A clause in a loan that waives personal liability of the borrower on the loan.