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The Complete Idiot's Guide to Buying a Home by Peter Richmond

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Appendix A
Glossary
acreA measure of land; equals 43,590 square feet.
 
adjustable-rate mortgage (ARM)A loan on which monthly payments will increase or decrease over time based on changes in the ARM’s interest rate index. ARM payments typically are adjusted every six months or once a year. Common indexes to which ARMs are tied include one-year T-notes and six-month T-bills.
 
amortizationThe schedule of repayment of a mortgage over its term, usually monthly.
 
annual percentage rate (APR)The true rate of interest you pay after compounding.
 
appraisalA professional valuation of a piece of real property.
 
arbitrationA form of nonjudicial dispute resolution. Its decisions are binding on the parties.
 
as-isA term used to denote that a piece of property ...

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