15 Real Estate Buzzwords Explained
Posted by The Cascade Team Real Estate on
Follow & Review Us On:
So you are entering the real estate world? Whether you are trying to buy or sell a home (or do both!), you need to familiarize yourself with the lingo. You don’t want industry jargon to confuse you and keep you from missing something crucial. Here are 15 real estate buzzwords to keep you in the know.
Adjustable Rate Mortgage (ARM)
When applying for a home loan, you can get an adjustable-rate mortgage (ARM) or a fixed-rate mortgage. An ARM usually has a specific interest rate for a set time and then the interest rate fluctuates. Most of these mortgages have a cap on how high the interest rate may increase.
Amortization Schedule
First off, amortize basically means to reduce a debt. An amortization schedule is a…
3145 Views, 0 Comments