Does reading about mortgages make your head spin? Take a look through some commonly used terms – we’ve gotten rid of the finance speak and made them simple to understand.
The process of determining the market value of a property.
What you own or can call upon. Often used in determining net worth or in securing financing.
Equal payments consisting of both an interest and a principal component. Typically, while the payment amount does not change, the principal portion increases, while the interest portion decreases.