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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
Bailey mortgage rates news:
Financial News
Slow Growth a Real Concern - CNBC
October's US new-home sales data, released Wednesday, will be key for the economic outlook because of the importance of the housing market, ... Mortgage Rates Drop The $800 billion move from Treasury is having a big impact on mortgage rates. Greg ...

Lord Mandelson will force banks to open their coffers - Times Online
Banks face legal action if they refuse to resume lending amid dire warnings of a mortgage drought that will bring further misery to homeowners. The Times has learnt that legal curbs will be imposed on banks if they fail to abide by a new code of ...

The Paulson Plan: ‘Truly Idiotic’ - Wall Street Journal
Charles Calomiris is angry. Hank Paulson’s plan to save the economy? “Truly idiotic,” says Calomiris, who is the Henry Kaufman Professor of Financial Institutions at Columbia University’s business school. “This whole thing has been complete ...

Continuous news, views, and abuse by the Reason staff - Reason.com
The great, unlamented mascot of Pets.com and the tech bubble, Sock Puppet, comes to Congress with a paw out for taxpayer money and inadvertently suggests a way forward through the current moment that doesn't involve massive giveaways. Approximately ...

A compilation of Sun stories that offer health advice - Batavia Sun
According to a 2006 study of online health searches by the Pew Internet and American Life Project, 80 percent of American Internet users, or some 113 million adults, have searched for information on health topics. The project, an initiative of the ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

Real-Time News - Newark Star-Ledger
• Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game They met as teenagers, finding a common bond ...

November 2008 - Posts - MSNBC Firstread
Senate candidate Al Franken will not appeal a decision by the Minnesota State Canvassing Board, which today rejected the Democrat's request that rejected absentee ballots be included in the race's hotly contested recount. The canvassing board's ...

Interest rates: the view from the streets - Guardian Unlimited
Sandra Newman , who is a research manager with a mortgage, said: "I don't think it is a good thing, my lender will definitely not pass on this new rate, and it is bad for savers, but I suppose it will be good for business." Laura Harris , who is on a ...

There's nothing wonderful about the nation's mortgage crisis - Seattle Times
George Bailey (Jimmy Stewart) in "It's A Wonderful Life. " In Frank Capra's 1946 film, "It's A Wonderful Life," Jimmy Stewart's character runs the family savings-and-loan business. His financial institution made money the old-fashioned way: by paying ...

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