A Appraisal - The process of evaluating a property's value by a licensed appraiser. Amortization - Gradual repayment of a mortgage loan through scheduled installments. Assessment - Determination of a property's value for taxation purposes. Adjustable-Rate Mortgage (ARM) - A ...

Adjustable-rate mortgage (ARM): A mortgage with an interest rate that can change periodically based on market conditions.Amortization schedule: A table showing the breakdown of each mortgage payment between principal and interest over time.Amortization: The process of gradually paying off the ...