Rate
The rate of interest on a loan, expressed as a percentage of 100.

Rate cap
A limit on how much the interest rate can change, either per adjustment period or over the term of the loan.

Refinancing
Paying off one loan with the proceeds from another loan, generally using the same property as collateral.

Relocation
The process of moving one's residence from one location to another, often having to do with a change of employment.

Repayment period
In a line of credit, the period when no advances of principal are available and during which the line must be fully repaid, according to the payment terms. In a home equity line of credit, the repayment period is the portion of the loan term that follows the draw period.

Rescission
The cancellation of a contract. In certain real estate-secured transactions that involve the refinance of a primary residence, applicants have three business days to cancel the transaction.

Real Estate Settlement Procedures Act (RESPA)
The federal law that defines the rules for proper disclosure of fees and information related to residential real estate transactions.

Revolving line of credit
A line of credit that allows up to the credit limit amount to be re-borrowed in repeated transactions once it's been repaid. A home equity line of credit is a type of revolving line of credit.