Glossary

Glossary 3/1, 5/1, 7/1 and 10/1 ARMs Adjustable rate mortgages in which rate is fixed for three year, five year, seven year and 10-year periods, respectively, but may adjust annually after that. Adjustment Date The date that the interest rate changes on an adjustable...
Top 5 Negative Credit Factors

Top 5 Negative Credit Factors

Top 5 Negative Credit Factors Credit score refers to the three-digit number that represents how well you handle money. Credit scores are calculated through data records that come from previous statements, monetary amounts owed, length of one’s credit history, new...