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News about Mortgages:
The mortgage rate puzzle - The News JournalThe mortgage rate puzzleThe News Journal, DE - Sep 15, 2008... that rates would be even higher now if the Fed hadn't acted, said mortgage banker Rob Grant, senior vice president at Gateway Funding in Centreville. ...
Editorial: Signs of Life - Fairfax ConnectionEditorial: Signs of LifeFairfax Connection, VA - Oct 8, 2008Several homes with Lorton addresses topped $1 million, along with at least one in Springfield and one in Centreville. A home on a little less than an acre ...
Shore Bancshares, Inc. Recognized Among Nation's Top Performing ... - Earthtimes (press release)Shore Bancshares, Inc. Recognized Among Nation's Top Performing ...Earthtimes (press release), UK - Sep 25, 2008It is the parent company of three banks, The Talbot Bank of Easton, Maryland , The Centreville National Bank of Maryland , and The Felton Bank; ...
AMK candidates held debate at ELSS - Elliot Lake StandardAMK candidates held debate at ELSSElliot Lake Standard, Canada - Oct 1, 2008"Students were actually having to mortgage their education. So, when they get out of university or college, often they can't start their family right away, ...
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