Search Knowledge Base

For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the loan. See...

An increase in the amount of money or credit available in relation to the amount of goods or services available, which causes an increase...

An asset that cannot easily be converted into...

An organization that collects principal and interest payments from borrowers and manages borrowers' escrow accounts. The servicer often...

A person to whom money is...

A project or subdivision that includes common property that is owned and maintained by a homeowners' association for the benefit and use of...

Any amount paid to reduce the principal balance of a loan before the due date. Payment in full on a mortgage that may result from a sale of...

Having the right to use a portion of a fund such as an individual retirement fund. For example, individuals who are 100 percent vested can...

An adjustable-rate mortgage (ARM) that has one interest rate for the first five or seven years of its mortgage term and a different...

An index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans. It is based on the results of...