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Real Estate Glossary |
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Real estate industry is one of the most growing industries in the world, providing more opportunities by opening new avenues of success. If you want to accomplish a name in real estate market, it is important to know about the basic glossary used in this particular industry. |
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| Author: Synapse India |
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Amenity: It is an additional feature of the home or that may benefit the buyer such as its natural location, woods, swimming pool or garden.
Amortization: It is process of repayment of a mortgage loan in monthly installments that include principal and interest.
Annual Percentage Rate (APR): It is calculated by using a formula. Usually, the APR defines the cost of a loan; taking the yearly interest rate, insurance cost and other fees in consideration.
Application: Application signifies the initial official step in the loan approval process. In application, an applicant needs to disclose the necessary information to get the desired loan money.
Appraisal: It is a kind of document that reveals the estimated price of a property in current market scenario.
Appraiser: a professional and qualified person who estimate the market value of the proposed property through his or her experience and knowledge.
ARM: Also known as Adjustable Rate Mortgage; it is a kind of a flexible mortgage loan the interest rate of which is subject to change with rate changes.
Assessor: An assessor is a government official who determines the market value of the proposed property.
Assumable mortgage: It is a type of mortgage that can be transferred from a seller to a buyer; once the loan is assumed by the buyer. A buyer no longer is responsible for repaying the loan amount after assumable mortgage
About Author
Myself webmaster of http://www.real-estate-directories.com/ which is a real estate directory & guide that provide all information related to real estate in various areas like real estate listing, real estate legal, real estate agencies and more.
Article Source:
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