Glossary
- Amortization:Gradual repayment of a debt by periodic installments that cover both principal and interest.
- Annual percentage rate (APR):The effective rate of interest for a loan. The APR reflects all the costs of financing - including points, origination fees, and other finance charges - and is usually higher than the interest rate alone.
- Appraisal:An estimate or opinion of the value of a property by an impartial person skilled in the analysis and valuation of real estate.
- Appreciation:An increase in the value of a property.
