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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

Washburn mortgage rates news:

Congress tackles Wall Street reform - CNN Money
NEW YORK (CNNMoney.com) -- Members of Congress, fiscal experts and Wall Street lobbyists gathered Tuesday to discuss ways to change regulation of the finance industry to shore up its foundations and prevent future crises. "We must recognize that ...

Daily Dose: Five questions about the economy - Topeka Capitol-Journal
With the economic troubles on Wall Street, Rob Weigand, who teaches financial analysis at Washburn University, said families should focus on reducing debt and increasing their savings. Rob Weigand teaches financial analysis and portfolio management ...

Heritage Christian plans expansion - Topeka Capitol-Journal
An intercom system, an industrial arts shop, a home gymnasium, a full-sized soccer field and room to grow. These are just a few things Aletha Rogers sees in Heritage Christian School's future now that the private school has acquired the East ...

America's future? Socialist nation? - Florida Times-Union
"Any of the various theories or systems of the ownership and operation of the means of production and distribution by society or the community rather than by private individuals, with all members of society or the community sharing in the work and ...

The Student-Loan Scam - Common Dreams
After 15 years of reporting on the student-loan industry, I didn't think much could surprise me. But even I was shocked last week when I discovered Securities and Exchange Commission documents revealing that financial aid directors at three prominent ...

Items pertaining to Lowry Hill East (The Wedge) neighborhood - Southwest Journal
VOTE ON BYLAWS: Armatage residents are invited to attend the Nov. 20 neighborhood association meeting to vote on changes made to the association's bylaws. The amendments include extending term lengths for board members from one to two years, allowing ...

Items pertaining to Kingfield neighborhood - Southwest Journal
PARK THEFTS: Jerry Peterson, Armatage Park director, noted that there has been an increase in thefts from cars in the parking lot at Armatage Park. Incidences have occurred mostly from 2–4 p.m. when parents are picking their kids up from school ...