Glossary

Knowledge is power and there’s no difference when it comes to obtaining a home loan! To help you on the journey to becoming an educated borrower, we’ve created this glossary of terms you’ll need to know during your home loan process.

All | # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

There are currently 4 names in this directory beginning with the letter A.

Amortization

Amortization is the act of paying off of debt with a fixed repayment schedule in regular installments over time.

Appraisal

When obtaining a mortgage, an appraisal is ordered through an independent third party to estimate the value of the property being financed. This assures the lender that they aren’t loaning a borrower more money than the property is worth.

Appreciation

Appreciation is the increase in a property's value over time.

Asset

An asset is a property owned by a person that is regarded to have value and can meet debts and commitments.

© 2022 Garden State Home Loans Incorporated NMLS#473163. Go here for the Garden State Home Loans Incorporated NMLS consumer access page . | Privacy Policy | Communication Consent: By submitting your contact information you expressly consent to having an employee of Garden State Home Loans Incorporated contact you about your inquiry by text message, email, or phone (including automatic telephone dialing system or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. We do not sell or share your information. We value your privacy.
Powered by iCreativeDev

Chat with usLiveChat