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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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Pickens mortgage quotes news:
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Palin Goes After Obama on Coal Comments - Embeds.blogs.foxnews.comMARIETTA, OH –-Sarah Palin unleashed a new attack today after an audio file of an interview Barack Obama did in January 2008 was reported on conservative blogs and linked on the Drudge Report. Palin accused the Democratic nominee of wanting to ...
Register for FREE - Wall Street JournalThe email address you have entered is already in use. Please re-enter the email address. Lower Richistanis tended to vote almost exclusively based on taxes. But Upper Richistanis placed a higher priority on longer-term societal issues like health ...
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