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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

Williamson mortgage rates news:

Nats trump Labour's tax package - Stuff
TAX PACKAGE: National leader John Key says the party's medium term goal is to reduce the top tax rate to 33 per cent. National will deliver tax cuts worth $47 a week to workers on the average wage of $45,000 - most delivered in April 2009. Announcing ...

No bank bailouts: Flaherty - Globe and Mail
Canadian financial services industry is solid and solvent, says the finance minister, while admitting that credit is tight ... Read the full article Conservatives Lie from Canada writes: No one believes Mr. Flaherty, Mr. Harper and the Conservatives ...

Phil Gardner from Canada writes: - Globe and Mail
And then there's the poll out today that says the Conservatives are still within a serious striking disance of the Majority that Harper covetts so much. The real story here is what a Harper Majority would be able to do. If you want the economy to ...

Defensive Harper stands by economic plan - Globe and Mail
Cadillac Rancher from VOTE STRATEGICALLY to Keep Cons OUT - www.voteforenvironment.ca, writes: . Harper's capitalist fundamentalism is wrong for tough economic times. We've been down this road before with the heartless and ideological Conservative ...

Web Tools - Edmonton Journal
Send us your news tips, photos and videos Get a free news feed on Facebook, Myspace, Twitter or your blog Sign up for e-mail alerts to get breaking news and Oilers news. Read more letters to the Editor from Oct. 13. Almost 20 years ago, I embarked on ...

Hysterical shareholders bail from market - News.com.au
INVESTORS are bloodied and bruised after one of the most dramatic days on the Australian market in years. Brokers reported hysterical shareholders trying to dump stock and cut their losses as the market closed at its lowest level in nearly four years ...

State social services secretary Ann Williamson resigns - New Orleans Times-Picayune
(AP Photo/Alex Brandon) Louisiana Department of Social Services Secretary Ann Williamson talks with the news media about the emergency food stamps program at the Morial Convention Center in New Orleans last week. She apologized for confusion that led ...

Australia Retail Sales Jump, Caution Advised - CNBC
Australian retail sales seemingly rose sharply in July as shoppers spent more on clothes and at department stores, though analysts cautioned that radical changes to the data meant the strength was likely overstated. CNBC.com Tuesday's data from the ...

UPDATE 1-Australia retail sales jump, caution advised - Forbes
SYDNEY, Sept 9 (Reuters) - Australian retail sales seemingly rose sharply in July as shoppers spent more on clothes and at department stores, though analysts cautioned that radical changes to the data meant the strength was likely overstated. Tuesday ...

Bush team, Congress haggle over $700B bailout - Williamson Daily News
WASHINGTON (AP) – Strapped homeowners could get government help renegotiating their mortgages as part of the $700 billion financial bailout legislation taking shape in Congress. Congressional leaders and the Bush administration are haggling over ...