Assumption Clause
An Assumption Clause is a provision within a mortgage or loan agreement that governs whether, and under what conditions, a borrower may transfer responsibility for
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An Assumption Clause is a provision within a mortgage or loan agreement that governs whether, and under what conditions, a borrower may transfer responsibility for
Appraised Value is an opinion of a property’s worth determined by a qualified professional using recognized valuation methods. It represents an objective assessment based on
An Appraisal is a formal process used to develop a professional opinion of value for a property, asset, or interest in property. In real estate,
Amortization is the structured process by which a loan balance is reduced over time through scheduled payments. Each payment is applied in a defined manner
Annual Percentage Rate (APR) represents the total yearly cost of borrowing money, expressed as a percentage. It is designed to give borrowers a clearer and
An Adjustable-Rate Mortgage is a home loan in which the interest rate is not fixed for the entire life of the loan. Instead, the rate
A 7/1 ARM is a type of adjustable interest home loan that combines an initial period of payment stability with later rate variability. The structure
An 80/10/10 Loan is a home financing structure that uses two mortgages and a down payment to complete a property purchase while limiting the amount
A 5/1 ARM is a type of mortgage loan that combines an initial period of fixed interest with a later period in which the interest
A 40-Year Fixed-Rate Mortgage is a home loan with a repayment term that extends over forty years and an interest rate that remains constant for