Whitewater Real Estate

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The process of paying the principal and interest on a loan through regularly scheduled installments. -Amortization tables Mathematical tables that lenders use to calculate a borrower's monthly payment. -Amperage The strength of an electrical current. -Anchor bolt A large steel bolt anchored in concrete and attached to a building to prevent the structure from moving. -Annual Any kind of plant that must be planted every year. -Annual mortgagor statement A yearly statement to borrowers that details the remaining principal and amounts paid for taxes and interest. -Annual Percentage Rate (APR) The cost of the loan expressed as a yearly rate on the balance of the loan. -Annuity The payment of a fixed sum to an investor at regular intervals. -Anticipatory breach A communication that informs a party that the obligations of the original contract will not be fulfilled. -Application A document that details a potential borrower's income, debt and other obligations to determine credit worthiness. -Application fee The fee that a lender charges to process a loan application. -Appraisal An opinion of the value of a property at a given point in time. -Appraisal fee The fee that an appraiser charges to estimate the market value of the property. -Appraisal report A detailed written report on the value of a property based on recent sales of comparable sites in the area. -Appraised value An opinion of the current market value of a property. -Appreciation An increase in the value of a home or other property.. -Arbitration A method of resolving a dispute in which a third party renders a decision. -Arbor An area shaded by trees, shrubs or vines on a latticework structure. -Arch A curved structure that supports weight over an area, such as a doorway. -Architect A licensed professional who designs homes, buildings and other structures. -Architectural fees The fee an architect charges for services. In general, architects charge for their services by the hour, by the square foot, or by a percentage of the project budget. -Arpent A French measurement of land equal to .84625 acres. -Asbestos A fire-resistant mineral used for insulation and home products that has been found to pose a health hazard. -As-is condition The purchase or sale of a property in its existing condition. -Asking price A seller's initial price for a property. -Assessed value A tax assessor's determination of the value of a home in order to calculate a tax base. -Assessment The estimated value of a piece of real estate or a levy placed on property in addition to taxes. -Assessment rolls A list of taxable property compiled by the assessor. -Assets Items of value which include cash, real estate, securities and investments. -Assignor A person who transfers rights and interests of a property. -Assumable mortgage A mortgage that can be transferred to another borrower. -Assumption clause A provision that allows a buyer to take responsibility for the mortgage from a seller. -Assumption fee A fee the lender charges to process new records for a buyer who assumes an existing loan.

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