The date that the interest rate changes on an adjustable rate mortgage (ARM).
The period elapsing between adjustment dates for an adjustable rate mortgage.
The length of time required to amortize the mortgage loan expressed as a
number of months. For example, 360 months is the amortization term for a 30- year fixed rate mortgage.
An opinion of a property's fair market value, based on an appraiser's knowl- edge and analysis of the property.
A local tax levied against a property for a specific purpose, such as a sewer.
The fee paid to a lender (usually by the purchaser of real property) when an assumption takes place.