Mortgage Glossary Terms Beginning with D
Mortgage Glossary Terms Beginning with D - AimLoan.com
Damages, The amount recoverable by a person who has been injured in any manner through the act or default of another.
Glossary of Mortgage & Lending Terms - Bank of America
A mortgage in which your interest rate and monthly payments may change periodically during the life of the loan, based on the fluctuation of an index. Lenders ...
HSH Mortgage Terms Glossary A-Z
A mortgage with an interest rate that changes periodically, according to an "index", such as Treasury Bills. Monthly payments can go up or down when the rate ...
Mortgage Glossary | MI Credit Union Mortgage Terms | Adventure
AMORTIZATION: Means loan payment by equal periodic payment calculated to pay off the debt at the end of a fixed period, including accrued interest on the ...
Mortgage Glossary - McMurrey Federal Credit Union
A mortgage that permits the lender to adjust its interest rate periodically on the basis of changes in a specified index. Adjustment period. The period that ...
Mortgage Terms Defined | Mortgage Glossary
Adjustable Rate Mortgage A mortgage in which the interest rate is adjusted periodically according to the movement in a pre-selected index. Adjusted basis The ...
Mortgage Glossary with All the Latest Terms
Graduated Payment Mortgage (GPM). A mortgage with monthly payments that are smaller at the beginning of the loan period and gradually increase by a specified ...
Mortgage Glossary - State Bank
The monthly payment due on a mortgage loan including payment of both principal and interest. Fixed-Rate Mortgage (FRM). A mortgage interest that are fixed ...
A timetable of mortgage payments over the course of a loan that shows how much is applied to both the principal and interest. amortization term. The amount of ...
Back End This refers to the debt-to-income ratio calculated using principal, interest, taxes, insurance and consumer credit obligations divided by gross monthly ...
Loan terminology glossary | UCOP
Graduated Payment Mortgage: The Graduated Payment Mortgage (GP-MOP) is an alternative loan product under the Mortgage Origination Program (MOP) that results in ...
A loan requiring payments of principal and interest at two-week intervals. This type of loan amortizes much faster than monthly payment loans. The payment for a ...
Mortgage Glossary - Tower Community Bank
Amortization – Literally to “kill off” (root: mort) the outstanding balance of a loan by making equal payments on a regular schedule (usually monthly). The ...
Homebuying and Homeowning Glossary of Terms - Freddie Mac
Glossary of Terms · A. Actual Cash Value: An amount equal to the replacement value of damaged property minus depreciation. · B Balloon Mortgage · C Capacity · D.
Mortgage Glossary | Seattle Bank
The gradual repayment of a loan, such as a mortgage, in regular payments over the specified loan term. Such payments must be sufficient to cover both principal ...
Mortgages key terms - Consumer Financial Protection Bureau
An adjustable rate mortgage (ARM) is a type of loan for which the interest rate can change, usually in relation to an index interest rate.
Define Mortgage Industry Terms for Home Buyers - Discover
A mortgage with an interest rate that adjusts periodically based on a preselected index, causing interest rates and payments to rise and fall with the market.
Mortgage Glossary Terms - Gelt Financial
Adjustable Rate Mortgage A loan program where the interest rate may change throughout the life of the loan. An ARM adjusts based on terms agreed ...
Mortgage Glossary | Mortgage Term Definitions Explained
These are terms commonly used in the mortgage industry. Click on any link and the page will spin to the definition.
An adjustable rate mortgage is a loan with an interest rate that changes according to an index. Payments may increase or decrease according to shifts in that ...