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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.

View all Terms
Clark mortgage rates news:
Financial News
Economic worries weigh on Clark County real estate market - Columbian
Sales of single-family homes in Clark County continued to inch downward along with their values in October, as potential home buyers remained sidelined by economic uncertainty. “Everyone is worried about unemployment and everyone is just plain ...

Fitch Rates Overton Power District #5 (NV) $15MM Revenue Bonds 'A ... - Earthtimes
NEW YORK - (Business Wire) Fitch Ratings initiates a rating of 'A' on the Overton Power District #5 (the District), Nevada's $15,060,000 special obligation revenue bonds, series 2008. The 2008 bonds are payable from net revenues of the District's ...

Surge in foreclosures has local homeowners seeking help - Columbian
The number of Clark County houses in foreclosure spiked in October, sending droves of desperate homeowners to the area’s only home mortgage counseling agency. “We’ve been inundated (with requests for counseling). It is just nonstop,” said ...

North Las Vegas eyes foreclosure solution - Las Vegas Sun
North Las Vegas' proposal, joined in by Clark County, is the only one in the area that calls for using federal foreclosure crisis aid to demolish housing. Officials say the government limits what they can do with the money, and this is the best plan ...

From the Editor : - Cricket365.com
Andrew Symonds is all set to make his return for Australia during the opening Test against New Zealand. Roy has admitted that alcohol played a major part in his fall from grace. Are you happy to see him back, and who do you think he should replace in ...

County will use federal money to reclaim some foreclosed homes - Las Vegas Sun
Neighbors living near unkept abandoned houses due to foreclosures in unincorporated Clark County should start to see more neighborhood improvements by the middle of next year. If a $4 billion federal program designed to reduce the number of bank ...

Massive money injection promised - Edmonton Journal
OTTAWA - The federal government and Canada's central bank dramatically stepped up their financial market assistance efforts Wednesday with promises of massive further injections of liquidity into the mortgage and credit markets amid plunging markets ...

Las Vegas Home Sales Double - Street.Com
For more real estate news, please visit: DQNews.com . And check out BankingMyWay to compare mortgage rates September sales of existing single-family houses in the Las Vegas region more than doubled from a year ago as the median price paid for those ...

Banks don't need bailout, says TD chief - Calgary Herald
Canadian banks should be able to get through the financial crisis without relying on the kind of government aid that is being deployed to financial institutions in other countries, Toronto-Dominion Bank's top executive said Wednesday. While the ...

Losing it all: Subprime loan mess slamming doors on homebuyers in ... - Lynchburg News and Advance
You wouldn’t expect a $1 million home on Easy Street on Smith Mountain Lake to end up in the same situation as a $20,000 house from inner-city Lynchburg. One was built as a lakeside mini-mansion in 2006. It has 5,200 square feet, granite ...

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