Ch 12 Mortgages Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Term | Definition |
Appraisal | An opinion of value on a home |
Appreciation | To increase in value |
ARM (Adjustable Rate Mortgage | loan secured by a deed of trust or mortgage in which the interest rate will change periodically |
Conventional Loan | Mortgage obtained through the Federal National Mortgage Association (FNMA), which insures against default; generally includes a down payment of 5-20% or more |
Curb Appeal | ludes a down payment of 5-20% or more. Curb Appeal: |
Equity | The property value over and above any mortgage or liabilities related to it |
Fixed Rate | An interest rate that does not change over time |
interest rate that does not change over time. Interest Only Loan | Interest Only Loan: A |
MLS (Multiple Listing Service) | Computer program used by realtors to search frequently updated listings of available properties in order to find prospective homes for their clients. |
Mortgage | A loan secured by the collateral of some specified real estate property, obligates the borrower to make a predetermined series of payments |
Created by:
mgarda
Popular Finance sets