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Adjustment Date

The length of time required to amortize the mort-
gage loan expressed as a number of months.

Adjustment Period

The period elapsing between adjustment dates for an adjustable rate mortgage.

Amortization Term

The length of time required to amortize the mort-
gage loan expressed as a number of months.

Appraised Value

An opinion of a property's fair market value, based on an appraiser's knowledge and analysis of the property.

Assessment

A local tax levied against a property for a specific purpose, such as a sewer.

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New York WA 02020
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1(800)111-1111


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