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: 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)
For most, the current economy has brought on the need for severe money saving strategies. From extreme couponing to extreme budgeting to extreme cut backs; everyone is looking for ways to save money. Interestingly, mortgage borrowers have seen historic low interest rates for the past two years. The Denver Post recently reported that interest rates … More Should I Refinance?
LESLIE MONACO REAL ESTATE 