VISIT AREA  COMMUNITIES: SELECT A COMMUNITY... BRUNSWICK, MD BURKITTSVILLE, MD CITY OF FREDERICK, MD EMMITSBURG, MD FREDERICK COUNTY, MD LAKE LINGANORE, MD MIDDLETOWN, MD MOUNT AIRY, MD MYERSVILLE, MD NEW MARKET, MD ROSEMONT, MD THURMONT, MD URBANA, MD WALKERSVILLE, MD WOODSBORO, MD HOMEFINDER LISTINGS • Resale Homes • New Construction • Rental Properties • Commercial Properties SEARCH OPTIONS • Listing Agent Search • Broker Search • MLS Search RELOCATION INFO • Community Info • Home Life • Employment Listings • Useful Phone Numbers • Services Directory RESOURCES • Mortgage Rates • Mortgage Calculator • Real Estate Glossary • Advertising Info MY HOMEFINDER • Log-in/Register • Saved Listings • Agent Log-in • Contact Us RESOURCES > Real Estate Glossary Browse the glossary terms alphabetically: First letter of the term 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 A Adjustable-Rate Mortgage (ARM) A mortgage in which the interest rate increases or decreases over the life of the loan based on market conditions, resulting in possible changes in monthly payments. Some plans have rate caps that limit the amount your interest rate may change. This loan, which has many variations, generally carries a lower initial rate than a fixed-rate loan because the borrower assumes the risk of the rising or falling market. Amortization The process of paying the principal and interest on a loan through regularly scheduled installments. Annual Percentage Rate (APR) The cost of the loan expressed as a yearly rate on the balance of the loan. Appraisal An opinion of the value of a property at a given point in time. Appreciation An increase in the value of an item (e.g., the increase in the market value of real estate). Assessed value A tax assessor's determination of the value of a home in order to calculate a tax base. Site Sponsor Advertisers   © 2008 Frederick HomeFinder is a production of The Frederick News-Post in association with Real Estate Teams, LLC. Equal Housing Opportunity