Mortgage Definition
Comparable Sales (Comps)
Recent sales of similar properties in the same area, used to estimate a home's market value. Appraisers and real estate agents use comps to determine fair prices.
Why it matters
This concept influences either your monthly payment, your upfront cash requirements, or your risk profile over time. Knowing the definition helps you make cleaner rent-vs-buy decisions.
Related terms
Related tools
- Mortgage Calculator
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- Affordability Calculator
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- Closing Costs Calculator
Estimate cash-to-close so you can compare monthly and upfront costs together.
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