Monthly Archives: September 2018

Real Estate Term of the Week

Amortization: The process of paying off a debt with periodic payments or installments. Mortgages are an example of an amortizing loan. Usually, you pay a certain amount each month, with a percentage going to...

Mortgage Rates Matter

Interest rates are rising. It may be tempting to think that a fraction of a point isn’t much. But even a small increase can add up to tens of thousands of dollars over the...

Real Estate Term of the Week

Adjustable Rate Mortgage (ARM): A type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. Normally, the initial interest rate is fixed for a...

What Makes These Loans Risky?

The prevalence of high-risk mortgages in the housing market was one of the major causes of the 2008 financial crisis. While lending practices and laws have changed in the past ten years to help...

Real Estate Term of the Week:

National Flood Insurance Program: The NFIP is a federally regulated program that offers two types of policies for flood protection insurance. One covers damage up to $250,000 of the home’s building and the other...

Real Estate Term of the Week

Settlement: A term for the close of a real estate transaction. Settlement occurs when the buyers, sellers, and their agents sign the closing documents of a transaction. Settlement or closing procedures vary by location