A document issued by the Department of Veterans Affairs (VA) that establishes the maximum value and loan amount for a VA mortgage.

A document issued by the federal government certifying a veteran's eligibility for a Department of Veterans Affairs (VA) mortgage.

This is a plan to reduce the debt by making half-payments every two weeks (instead of the standard monthly payment schedule).  The 26 (or possibly 27) biweekly payments are each equal to one-half of the monthly payment required if the loan were a standard 30-year fixed-rate mortgage. The result for the borrower is a large [...]

A written analysis prepared by a qualified and certified appraiser that provides the best estimate for the real current value of the property and improvements.  The value is based upon other similar properties in the area which have recently sold on the open market, with adjustments made up or down based upon conditions unique to [...]

The gradual repayment of a mortgage loan, both principal and interest, by installments.  An Amortization Schedule shows you how much of your monthly payment goes to interest and how much goes to the principal each month.

The cost of credit, expressed as a yearly rate including interest, mortgage insurance, and loan origination fees. This allows the buyer to compare loans, however APR should not be confused with the actual interest rate.  The actual interest rate is only the amount of interest paid on the loan amount.

A mortgage with an interest rate that changes during the life of the loan according to movements in an index rate. Sometimes called ARM loan - ARM loan or VRMs (variable-rate mortgages).

This is a search of the land records in the county where the home or land is located.  It certifies to the lender and buyer, who the actual owner of the land is and whether there are any liens against it.  Liens can be from a loan with a bank, a judgment against the owner, [...]