Glossary of Terms

Adjustable Rate Mortgage (ARMs)

Amortization

Amortization Schedule

Annual Percentage Rate (APR)

Assumption Fee

Balloon Payment

Cap

Certificate of Reasonable Value (CRV)

Closing Statement

Condominium

Contingency

 

Conventional Loan

Cooperative Ownership

Deed of Trust

Earnest Money

Escrow

Federal Housing Administration (FHA)

Home Warranty Insurance

Loan Origination Fee

Point

Title Insurance

Variable Interest Rate

Veteran’s Administration Loans

 



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