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Help ahead for U.S. housing? - Globe and MailKeep an eye on U.S. mortgage rates because they are low and likely headed lower, which will help consumer spending and eventually the dismal housing market. WHAT ARE THE EXPECTATIONS? The one-half percentage point rise in the yields on 30-year U.S ...
Shetler named County Council president - Evansville Courier-PressThe new president of the Vanderburgh County Council says he will push to shift the emphasis in economic development efforts to retaining existing businesses. Councilman Tom Shetler Jr., treasurer of Shetler Moving & Storage Inc., unanimously was ...
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