Chanel Miller asked: Adjustable Rate Mortgage (ARM) – A mortgage in which the interest rate can change periodically based on a specified index. Amortization – Payments on a mortgage are divided into equal periodic payments calculated to pay off within a specified time period. Amortization Term – The length of time specified to pay off [...]
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Tags: Adjustable Rate Mortgage, Amortization Payments, Amortization Term, Annual Percentage Rate, Debt To Income Ratio, Escrow Account, Federal National Mortgage Association, National Mortgage Association, Private Lenders, Specified Time Period
