Posts Tagged ‘real estate’

A-Z real estate vocabulary for home buyers and sellers

Posted December 2, 2008 by Bernz

Nothing is more fundamental to buying or selling your home than understanding the language that realtors, lenders and others in the industry use. Here’s a list of common home buying and selling terms.

palm-beach-real-estateAdjustable Rate Mortgage (ARM) – A mortgage loan or deed of trust which allows the lender to adjust the interest rate at specific intervals as stated by the note. The payment is subject to change throughout the term of the loan.

Amortization – A periodic reduction of a mortgage by making specific payments over a stated period of time.

Appraisal – An expert or official valuation of a home. The lender will hire a qualified professional who makes an independent judgment of the home’s value based on its condition, prevailing prices in the neighborhood, resale values, age and other factors. An appraisal is different from a home inspection.

Annual Percentage Rate (APR) – The cost of credit expressed as a yearly rate. (more…)


Posted in Investing in Real Estate | 1 Comment »


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