Whether you are a seasoned home buyer or a first time buyer in Dayton Ohio these are the words that a Mortgage Broker in Dayton Ohio is going to use. A good Loan Officer will explain your mortgage from top to bottom but if you have questions and can’t get them answered, you must read below:
Mortgage Broker Terms in Dayton Ohio:
Adjustable Rate Mortgage– A Mortgage that permits the lender to periodically adjust the interest rate so that the rate reflects fluctuations in the cost of money. Also referred to as an ARM.
Amortization Schedule- A table or chart that shows the periodic payments, interest and principal requirements, and unpaid loan balance for each period of the life of the loan.
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