The cost of credit, expressed as a yearly rate including interest, mortgage insurance, and loan origination fees. This allows the buyer to compare loans, however APR should not be confused with the actual note rate.
MortgageAuction.com
Mortgage Auction
Cleaning Up the Dark Alleys of Mortgage Shopping
Tag Archives: Mortgage Terms
Adjustable-Rate Mortgage (ARM) – Mortgage Terms Explained by Animals
A mortgage with an interest rate that changes during the life of the loan according to movements in an index rate. Sometimes called AMLs (adjustable mortgage loans) or VRMs (variable-rate mortgages).
Animals Explain Mortgage Terms – Acceleration Clause
Acceleration Clause – Provision in a mortgage that allows the lender to demand payment of the entire principal balance if a monthly payment is missed or some other default occurs.
Mortgage Auction 