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News about Mortgages:
Real estate sales improve in area - Baxter BulletinReal estate sales in November in the Twin Lakes Area were bleak by comparison to the 2005 heyday, but the market showed clear signs of stability and growth that month in terms of value and volume in sharp contrast to most other areas of the state ...
NOVEMBER HOME SALES DOWN IN ARKANSAS - Pine Bluff CommercialHome sales in November fell nearly 35 percent statewide compared to last November — the largest decline of the year — the Arkansas Realtors Association reported recently. Jefferson County saw a decline of 46.5 percent, with 23 homes sold compared ...
First Banks takes federal bailout money - St. Louis Post-DispatchFive months after taking a $100 million bailout from the Dierberg family, First Banks is taking another $295 million from the federal bank rescue fund. The bank issued $295 million in preferred stock, paying a 5 percent dividend, to the U.S. Treasury ...
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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