 |
About
Hatboro, Warminster and Willow Grove: Moving to Hatboro, Warminster and
Willow Grove, Pennsylvania? Get info here... |
|
Relocating?:
Free real estate information & relocation package if you're
relocating to Hatboro, Warminster and Willow Grove, PA |
|
School
Information: Hatboro, Warminster and Willow Grove schools and the
education system in Pennsylvania: kindergarten, elementary, high schools,
colleges & universities |
|
Local Businesses:
Local Businesses |
|
Things
To Do: Things to do in Hatboro, Warminster and Willow Grove:
entertainment, dining, the arts, cultural events, major league sports &
sporting events, shopping malls, tourist attractions, historic places, natural
landmarks, and more |
|
Local
Maps & Links: Hatboro, Warminster and Willow Grove maps &
local/Pennsylvania web site links for news & media, TV stations, radio
stations, daily Hatboro, Warminster and Willow Grove newspapers,
transportation, airports & bus terminals, Pennsylvania & local
government, and more |
|
Local
Weather: Weather in Hatboro, Warminster and Willow Grove, Pennsylvania:
spring, summer, winter, and fall climate changes |
|
Hatboro,
Warminster and Willow Grove Photo Gallery: Tour Pennsylvania in
pictures |
Please Sign Up For The
Latest Listings and the Latest Real Estate News
Financing Your Home >The Language of Financing
When you meet with a lender to apply for financing, you may feel as if you are in a foreign country when the loan officer begins to talk about points, Regulation Z margins, PMI, and ARMs.
You are not alone if you feel left behind by loan terminology. Like many professionals, lenders use a highly specialized language. Don't hesitate to ask for a translation! This is especially true if you are investigating some of the more complicated loans with rates that can be adjusted periodically. As you consider the various loan options, find out what the interest rate will be and at what point the lender will commit to that rate. If the loan has an adjustable rate, be sure that you understand how often the rate will adjust, and by how much your payments may go up. Find out if the loan can be assumed by a future buyer. The lender isn't trying to confuse you. The mortgage process is complicated, so just keep asking questions until you understand.
|
 |
| Q |
What does the term ARM stand for?
|
| A |
An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERTS™ 
