Real Estate Term of the Day: Annual Percentage Rate (APR) ANNUAL PERCENTAGE RATE (aka: APR) – the effective rate of interest for a loan per year, disclosure of which is required by the Truth-In-Lending Law (Barron’s Dictionary of Real Estate Terms) The APR rate is not to be confused with the note rate (or the … More Real Estate Term of the Day: Annual Percentage Rate (APR)
Real Estate Term of the Day: Amortization: Loan, Schedule & Term AMORTIZATION – a gradual paying off of a debt by periodic installments (Barron’s Dictionary of Real Estate Terms) AMORTIZED LOAN – any loan with at least some payments to principal (Barron’s Dictionary of Real Estate Terms) AMORTIZATION SCHEDULE – a table that shows the … More Real Estate Term of the Day: Amortization: Loan, Schedule & Term
Real Estate Term of the Day: Agency Disclosure AGENCY DISCLOSURE – a written explanation, to be signed by a prospective buyer or seller, explaining to the client the role that the broker plays in the transaction. The purpose of disclosure is to explain whether the broker represents the buyer or seller or is a transaction … More Real Estate Term of the Day: Agency Disclosure
Real Estate Term of the Day: Adjustable Rate Mortgage (ARM) ADJUSTABLE RATE MORTGAGE (aka: ARM) – a type of mortgage loan that allows the interest rate to be changed at specific intervals over the maturity of the loan (Barron’s Dictionary of Real Estate Terms) Contrast to: FIXED-RATE MORTGAGE When financing a new home, it is key … More Real Estate Term of the Day: Adjustable Rate Mortgage (ARM)
LESLIE MONACO REAL ESTATE 