I
|
Index |
| A
measurement used by
lenders to determine
changes to the interest
rate charged on an
adjustable rate
mortgage. |
| |
|
Inflation |
| The
number of dollars in
circulation exceeds the
amount of goods and
services available for
purchase; inflation
results in a decrease in
the dollar's value. |
| |
|
Interest |
| A fee
charged for the use of
money. |
| |
|
Interest rate
|
| The
amount of interest
charged on a monthly
loan payment; usually
expressed as a
percentage. |
| |
|
Insurance |
|
Protection against a
specific loss over a
period of time that is
secured by the payment
of a regularly scheduled
premium. |
|
| Homebuyer
Education Learning Program; an
educational program from the FHA
that counsels people about the
homebuying process; HELP covers
topics such as budgeting,
finding a home, getting a loan,
and home maintenance; in most
cases, completion of the program
may entitle the homebuyer to a
reduced initial FHA mortgage
insurance premium-from 2.25% to
1.75% of the home purchase
price. |
| |
|
|
|
|
If you have any
questions or would like more information, please contact me
828.262.1836, 800.473.2653, 828.963.0376,
email me, or use the online request form.
|
|
