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Amortization
Amortization Gradual payment of a debt through regular installments that cover both interest and principal.
RELATED TERMS--------------------------------------
Debt
An amount owed to another.
Interest
Money paid to a lender as compensation for money that is borrowed.
Principal
1) The outstanding balance of a loan. 2) A party to a real estate transaction. 3) The head of a real estate firm.
SIMILAR TERMS--------------------------------------
Amortization schedule
A table which shows how much of each payment will be applied toward principal and how much toward interest over the life of the loan.
Amortization table
Mathematical formula for calculating a borrower's monthly payments, based on the amount borrowed, the interest rate and the term of the loan.
Amortization term
Expressed in months, this term simply states how long it will take you to pay off your mortgage.
Amortize
To pay a debt in periodic amounts until the total amount, including any interest, is paid.
Amortized loan
A loan in which the principal as well as the interest is payable in monthly or other periodic installments over the term of the loan.
PREVIOUS AND NEXT TERMS--------------------------------------
American Land Title Association (ALTA) policy
Title policy that assures a lender that it has the proper rights as the beneficiary on a mortgage loan.
American Society of Appraisers (ASA)
A professional organization of appraisers engaged in the appraisal of both real and personal property.
American Society of Home Inspectors
An association of professionals who are paid to look at houses to find any problems.
American Society of Real Estate Counselors (ASREC)
A professional organization, affiliated with the National Association of REALTORS, composed of individuals with proven success in real estate counseling who serve clients on a fee basis.
Americans with Disabilities Act (ADA)
On July 26, 1990, President Bush signed into law the Americans with Disabilities Act of 1990 ("ADA"), a federal law which prohibits discrimination against individuals with disabilities.
Amortization
Amortization schedule
A table which shows how much of each payment will be applied toward principal and how much toward interest over the life of the loan.
Amortization table
Mathematical formula for calculating a borrower's monthly payments, based on the amount borrowed, the interest rate and the term of the loan.
Amortization term
Expressed in months, this term simply states how long it will take you to pay off your mortgage.
Amortize
To pay a debt in periodic amounts until the total amount, including any interest, is paid.
Amortized loan
A loan in which the principal as well as the interest is payable in monthly or other periodic installments over the term of the loan.
This dictionary contains 6433 terms. |
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