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Today's Mortgage Terms starting with A
Accrued Interest: Interest earned but has not been paid
Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.
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Winn mortgage rates news:
For jobless Jerseyans, a future of uncertainty - Newark Star-LedgerPatti Sapone /The Star-Ledger Connie Smith of West Long Branch, 45, center, listens to William Winn, special assistant, office of financial management U.S. Department of Energy during Rutgers University Federal Jobs Career Day. Connie Smith is ...
Pondering Peavy for Yunel, Gorkys, Charlie.... - Atlanta Journal ConstitutionThe entry titled "Pondering a Jake for Yunel, Gorkys, Charlie....," and any of the comments about it. A few thoughts while packing (again) for a trip to Arizona tomorrow to see Tommy Hanson and other Braves prospects in the Fall League, and thinking ...
Eastern New Orleans residents still fear area may not be fully rebuilt - New Orleans Times-PicayuneFor residents and activists in eastern New Orleans, the "green dot" debate isn't finished. The notion that redevelopment of a flood-torn section might be prohibited, with idle property converted to green space, has taken on new life -- at least in ...
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