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Amherst Charlotte Fauquier Harrisonburg City Madison Page Rockbridge Washington
Appomattox Charlottesville City Floyd Henrico Manassas City Patrick Rockingham Waynesboro City
Arlington Chesapeake City Fluvanna Henry Manassas Park City Petersburg City Russell Westmoreland
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Bedford Colonial Heights City Frederick Isle Of Wight Mecklenburg Portsmouth City Shenandoah Wise
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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
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Virginia home mortgage loan, news and quotes from Virginia lenders

Home loan troubles break records again - Beaufort Gazette
A foreclosure sign stands on top of a sale sign outside an existing home for sale in the west Denver suburb of Lakewood, Colo., on Sunday, Sept. 28, 2008. An industry group said Friday, Dec. 5, 2008, a record one in 10 American homeowners with a ...

Home prices are down, but mortgages are hard to land - HamptonRoads.com
Peral Carrington wrote letter after letter to the mortgage lenders, maybe 20 in all, explaining why she wanted to buy a home, how she thought she could afford one, what caused her to be late on payments in the past. She said she had no idea the ...

Fannie Mae, Freddie Mac Mortgage-Bond Yields Tumble (Update2) - Bloomberg
Dec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds fell as Treasury Secretary Henry Paulson considers a plan to push home-loan rates down to 4.5 percent to curb the yearlong U.S. recession. Yields on Washington ...

Fannie Mae, Freddie Mac Mortgage-Bond Yields Fall (Update1) - Bloomberg
Dec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds fell as Treasury Secretary Henry Paulson considers a plan to push home-loan rates down to 4.5 percent. Yields on Washington-based Fannie’s current-coupon 30-year ...

Treasury Weighs Action on Mortgage Rates - Washington Post
Search for new homes, condos, and other real estate in Washington, D.C., Maryland and Virginia. Any efforts by the Treasury to lower rates on new mortgages would work in concert with a Federal Reserve plan announced last week to buy $500 billion ...

Classic holiday stories inspire during tough times - The Chronicle Herald
Hard times have you down this holiday season? Take a trip to the library for some inspiration from treasured stories of Christmas past. The mortgage meltdown, job squeeze and clash between rich and poor evoke long-popular holiday tales with ghostly ...

Taxpayers on hook for loan to execs at Regency - Des Moines Register
Iowa taxpayers are now among the creditors waiting to get their money back from executives of the defunct Regency business group. Regency officials James Myers, Robert Myers, Richard Moffitt and John Gamble owe the state for a $448,000 loan obtained ...

Avoiding foreclosure - Charleston Gazette
CHARLESTON, W.Va. - In 2007, a few months after Jeff Light was laid off from his longtime job, he and his wife realized they couldn't make the mortgage payment on their Huntington home. "We've got kids, and this is the only home they've really known ...

Mortgage 'workout' programs: - Charleston Gazette
CHARLESTON, W.Va. - As more than 11 million mortgages approach foreclosure nationwide, a parade of lenders - including Chase, Bank of America and Citicorp - are pledging to alter hundreds of thousands of mortgages to keep people in their homes ...

Mortgage Rates Drop to Lowest Level This Year - Earthtimes
30-Year Rate Now at 5.32%, According to Zillow (R) Mortgage Rate Monitor SEATTLE , Dec. 2 /PRNewswire/ -- Mortgage rates fell dramatically last week, due to the government's decision to purchase mortgage-backed securities. Rates for 30-year fixed ...

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