Assumable Mortgage loans mortgage terminology definition
Assumable Mortgage: A mortgage loan that can be taken over by the buyer rather than a new mortgage contract being written to purchase the home. In most cases, the seller of the home will still be liable to the mortgage company in the case that the buyer m
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Categories: Mortgage Glossary Tags: loan, mortgage
Asset-to-Debt Ratio loans mortgage terminology definition
Asset-to-Debt Ratio: The value of the assets you own minus the amount of debt you have.
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Categories: Mortgage Glossary Tags: loan, mortgage
Assets loans mortgage terminology definition
Assets: Anything you own that has value.
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Categories: Mortgage Glossary Tags: loan, mortgage
Assessed Value or Assessment loans mortgage terminology definition
Assessed Value or Assessment: The value a property given by a tax assessor in order to determine the cost of property taxes for that parcel.
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Categories: Mortgage Glossary Tags: loan, mortgage, tax, taxes
Appreciation loans mortgage terminology definition
Appreciation: The amount of increase in value that takes place on a property due to real estate trends in the area, home improvements, and other factors that cause the market value of a home to increase.
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Categories: Mortgage Glossary Tags: loan, mortgage, real estate
Appraisal loans mortgage terminology definition
Appraisal: The fair market value of a property based on a professional evaluation of real estate trends in the area and amenities of the home.
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Categories: Mortgage Glossary Tags: loan, mortgage, real estate
APR-Annual Percentage Rate loans mortgage terminology definition
APR-Annual Percentage Rate: The percent you are paying for a full year that includes interest on your loan, mortgage insurance costs, and other fees that may be applied depending on your mortgage loan agreement.
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Categories: Mortgage Glossary Tags: loan, mortgage
Amortization Schedule loans mortgage terminology definition
Amortization Schedule: The statement from your mortgage lender that shows you exactly what your monthly mortgage payment is, how much is going toward your principal loan amount, how much is going toward interest, how much is going into your escrow account
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Categories: Mortgage Glossary Tags: lender, loan, mortgage, payment
Amortization loans mortgage terminology definition
Amortization: The process of paying off your mortgage with payments due every month for a certain amount of years.
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Categories: Mortgage Glossary Tags: loan, mortgage, payment
Adjustment Date loans mortgage terminology definition
Adjustment Date: The dates at which your adjustable rate mortgage interest rate can change. After the initial fixed rate period is over, the interest rate can usually be adjusted every 6 months.
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Categories: Mortgage Glossary Tags: loan, mortgage