| A | B |
|---|
| Appraisal | An opinion of value on a home |
| Appreciation | To increase in value |
| ARM (Adjustable Rate Mortgage) | Home loan secured by a deed of trust or mortgage in which the interest rate will change periodically (i.e. annually); brought on as a result of high interest rates in the early 1980s as a way for banks to transfer the risk of higher interest rates to the consumer |
| Conventional Loan | Mortgage obtained through the Federal National Mortgage Association (FNMA), which insures against default; generally includes a down payment of 5-20% or more |
| Curb Appeal | The appearance of a home from the street |
| Equity | The property value over and above any mortgage or liabilities related to it |
| Fixed Rate | An interest rate that does not change over time |
| Interest Only Loan | A mortgage where you only pay the interest |
| MLS (Multiple Listing Service) | Computer program used by realtors to search frequently updated listings of available properties in order to find prospective homes for their clients |
