Interest rate
Interest rate An interest rate on a mortgage loan is the cost you will pay each year to borrow the money, expressed as a percentage […]
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Interest-only loan
Interest-only loan An interest-only mortgage is a loan with scheduled payments that require you to pay only the interest for a specified amount of time.
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Initial escrow deposit
Initial escrow deposit An initial escrow deposit is the amount that you will pay at closing to start your escrow account, if required by your lender.
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Initial adjustment cap
Initial adjustment cap An initial adjustment cap is typically associated with adjustable rate mortgages (ARMs). This cap determines how much the interest rate can increase […]
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HUD-1 settlement statement
HUD-1 settlement statement The HUD-1 Settlement Statement lists all charges and credits to the buyer and to the seller in a real estate settlement, or […]
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Home purchase price
Home purchase price A home’s purchase price is the amount agreed to by the buyer and seller to be paid to the seller to purchase […]
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Homeowner’s insurance
Homeowner’s insurance Homeowner’s insurance pays for losses and damage to your property if something unexpected happens, like a fire or burglary. When you have a […]
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Homeowners’ Association (HOA)
Homeowners’ Association (HOA) A homeowners’ association (HOA), is typically formed to manage shared expenses such as landscaping and other maintenance costs for a planned subdivision […]
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