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Habitat for Humanity home seeks residents - New Jersey HeraldHabitat for Humanity home seeks residentsNew Jersey Herald, NJ - 14 hours agoSTANHOPE -- Morris Habitat for Humanity and Sussex Habitat for Humanity are now accepting applications for a fourplex to be built on Lloyd Avenue in ...
Promotions made at Skylands Community Bank - Warren ReporterWarren ReporterPromotions made at Skylands Community BankWarren Reporter, NJ - 2 hours agoHe was formerly president of the Frelinghuysen Township Board of Education and currently serves as president of the Netcong-Stanhope Rotary Club. ...
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.
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