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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

Cherokee mortgage rates news:

Study: Poor neighborhoods face unfair property taxes - Atlanta Journal Constitution
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Letters to the editor for August 26 - Jacksonville Daily Progress
I wonder if America’s high school students realize the size of the national debt that President Bush is leaving them to pay off? I also wonder if some history teacher will read our kids President Dwight Eisenhower’s farewell address to the nation ...

Letters, 9/7: Measures not objective - Lincoln Journal Star
David Moshman’s Aug. 30 community column seems logical, but it deceptively diverts attention from the main reason why affirmative action is so necessary for overcoming our unfortunate legacies of racial and gender discrimination. It is not at all ...

Today in the Sky • - USA Today Blogs
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Gibson shows limitations of Palin in final sitdowns - Weblogs.baltimoresun.com
ABC anchorman Charles Gibson displayed some of his trademark geniality in the closing moments of the last of three interviews with Alaska Gov. Sarah Palin seen Friday on ABC World News . He could afford to do so. He had served the public well during ...

The Hypocrisy and Danger of Anti-China Demonstrations - Common Dreams
We hear that Tibetans suffer "demographic aggression" and "cultural genocide". But we do not hear those terms applied to Spanish and French policies toward the Basque minority. We do not hear those terms applied to the US annexation of the Kingdom of ...

2008 (2174) - Dakota Voice
► January 16 - January 23 (1) In case you haven't heard about it, the movie stars Kirk Cameron as a firefighter who's doing well at work, but his marriage is falling apart at home. This movie was made by the same group of church folks that made the ...