fbpx

Glossary

Knowledge is power and there’s no difference when it comes to obtaining a home loan! To help you on the journey to becoming an educated borrower, we’ve created this glossary of terms you’ll need to know during your home loan process.

 

All | # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
There are 4 names in this directory beginning with the letter A.
Amortization
Amortization is the act of paying off of debt with a fixed repayment schedule in regular installments over time.

Appraisal
When obtaining a mortgage, an appraisal is ordered through an independent third party to estimate the value of the property being financed. This assures the lender that they aren’t loaning a borrower more money than the property is worth.

Appreciation
Appreciation is the increase in a property's value over time.

Asset
An asset is a property owned by a person that is regarded to have value and can meet debts and commitments.