|
| | |
ARM
ARM Adjustable Rate Mortgage is a mortgage loan subject to changes in interest rates.
RELATED TERMS--------------------------------------
Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
Mortgage
A legal document pledging property as security for the payment of a loan.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Interest
Money paid to a lender as compensation for money that is borrowed.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Arbor
An area shaded by trees, shrubs or vines on a latticework structure.
Arboretum
A place where native trees are grown and used for research purposes.
Arch
A curved structure that supports weight over an area, such as a doorway.
Architect
A person who is qualified to design buildings and supervise their construction.
Architectural fees
Compensation paid to a person who designs buildings.
ARM
Armoire
A large, ornate cupboard or wardrobe that is used for storage.
Arm's length
An agreement freely arrived at in the open market, unaffected by abnormal pressure or by the absence of normal competitive negotiation as might be true in the case of a transaction between related parties.
Arpent
An area equal to about 0.845 acres, traditionally used in France, Quebec and Louisiana.
Arrangement fee
Similar to an administration fee, it is paid before the loan is completed. Sometimes refunded, other times added to the loan.
Arranger of credit
As defined under the federal Truth-in-Lending Law, a person who regularly arranges for the extension of consumer credit by another person if a finance charge will be imposed, if there are to be more than four installments, and if the person extending the credit is not a creditor.
This dictionary contains 6433 terms. |
|
|
