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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 |
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The latest
Mortgage News:
Obama Addresses Over 200,000 In Berlin Speech - US News and World ReportSen. Barack Obama's speech in Berlin is generating extensive, and generally positive, media coverage, which casts the Illinois senator's foreign trip as a largely successful attempt to present him to the American people as a potential commander in ...
US Senate on course to vote Sat. on housing bill - ForbesWASHINGTON (Reuters) - The U.S. Senate was on course for a Saturday vote to approve a major housing market rescue bill with a lifeline for Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ) and bond market action ...
Analysis: GOP stroked base in housing vote - Miami HeraldWASHINGTON -- President Bush pulled the rug out from under Republicans this week when he abruptly dropped his opposition to a massive housing rescue. Their reaction? Good riddance. Three-quarters of House Republicans defied Bush and voted against the ...
Hampton news briefs - Portsmouth HeraldHeather L. Johnson of Your Home For Life offers a free educational seminar "Understanding the Reverse Mortgage" on Tuesday, July 29 at 10 a.m. at Lane Memorial Library, 2 Academy Ave, Hampton. The event is handicapped accessible. For a free ...
LAT Gags Blogs - SlateHey bloggers, There has been a little buzz surrounding John Edwards and his alleged affair. Because the only source has been the National Enquirer we have decided not to cover the rumors or salacious speculations. So I am asking you all not to blog ...
Senate on course to vote Saturday on housing bill - Washington PostWASHINGTON (Reuters) - The Senate was on course for a Saturday vote to approve a major housing market rescue bill offering a lifeline to mortgage finance giants Fannie Mae and Freddie Mac , and bond market action on Thursday indicated investors were ...
How they voted: House roll call on housing bill - Miami HeraldThe 272-152 roll call Wednesday by which the House passed a bill that aims to help homeowners facing foreclosure and to prevent mortgage giants Fannie Mae and Freddie Mac from collapsing. A "yes" vote is a vote to pass the bill. Voting yes were 227 ...
ARAB BUSINESS SEARCH - Nashra USAType [All Categories] Accounting Advertising Agency Air Cargo And Package Air Conditioning Air Lines Alarm Systems Appraisals Arab Airlines Attorneys Automobiles Bakeries Banks Beauty Salons Book Stores Bridal Broadcasting / Video / Audio Butchers ...
Rescue of mortgage giants could hit $25 billion - Monterey County HeraldWASHINGTON — A federal rescue of Fannie Mae and Freddie Mac could cost taxpayers $25 billion, congressional budget experts said Tuesday, as lawmakers put finishing touches on legislation that would tap the troubled mortgage giants' profits to help ...
2.2 million vacant homes for sale - CNN MoneyNEW YORK (CNNMoney.com) -- The percentage of vacant homes available for sale remained relatively flat in the second quarter, but still hovered in record territory.
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