Terms starting with "A": | APR | ARM | adjustable rate mortgage | amenity | amortization | annual percentage rate | application | appraisal | appraiser | assessor | assumable mortgage |

[ALL-123-A-B-C-D-E-F-G-H-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X-Y-Z]

The latest defined terms, starting with the letter A:

assumable mortgage

This is a mortgage that can be transferred from a seller to a buyer, and once the loan is assumed by the buyer the seller is no longer responsible for repaying it. There may be a fee and/or a credit package involved in the transfer of an assumable mortgage.

assessor

This is a government official who is responsible for determining the value of a property for the purpose of taxation.

adjustable rate mortgage

Also called an ARM, this is a mortgage loan subject to changes in interest rates. When rates change, ARM monthly payments increase or decrease at intervals determined by the lender. The change in your monthly payment amount, however, is usually subject to a cap, or limit.

ARM

An abbreviation for Adjustable Rate Mortgage, a mortgage loan subject to changes in interest rates. When rates change, ARM monthly payments increase or decrease at intervals determined by the lender. The change in your monthly payment amount, however, is usually subject to a cap, or limit.

appraiser

This is a qualified individual who uses his or her experience and knowledge to examine the property, and to then prepare the appraisal estimate.

[ALL-123-A-B-C-D-E-F-G-H-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X-Y-Z]






home | podcasts | buyer's guide | agent login | help | tos | privacy | contact