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When you put in an offer on a home, you can specify certain conditions that must be met before the deal will go through – these are called contingencies. You have to make sure you can actually get the loan (a financing contingency), that the inspection doesn’t show anything too crazy (inspection contingency), and that…
Closing Costs
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Adjustable Rate Mortgage or ARM
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Amortization
Amortization : is the payment plan for your purchase , your terms , and interest rate combined with the term of the loan , and how much you will pay per month , to Principle v. Interest.
Annual Percentage Rate or APR
An annual percentage rate (APR) is the annual rate charged for borrowing or earned through an investment, and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan.
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