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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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Mcintosh mortgage rates news:
Troubles remain in housing market - Long Beach Press-TelegramCarleton Carlson, left, shows a loft for sale to Realtor Jerry Simmons during an open house last year for Realtors at the Insurance Exchange building on the 200 block of East Broadway in Long Beach. Home sales in many parts of Long Beach declined ...
Americans to hold wallets tighter for holidays - Tehran TimesSurveys project tepid growth in gift spending for the holiday shopping season set to begin Friday, the day after the Thanksgiving Day holiday. The grim outlook has retailers starting early promotions and discounts to get consumers out and ensure that ...
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