The real estate industry is often glamorized by television shows, social media, and success stories of agents closing million-dollar deals. While it’s true that real estate can be a lucrative and rewarding career, there are many misconceptions about the industry that can mislead aspiring agents, buyers, and sellers alike. At Prime Park Realty, we believe in transparency and equipping our clients and...
adjustable-rate mortgage (ARM)A mortgage whose interest rate changes periodically based on the changes in a specified index. adjustment dateThe date on which the interest rate changes for an adjustable-rate mortgage (ARM). adjustment periodThe period that elapses between the adjustment dates for an adjustable-rate mortgage (ARM). amortizationThe repayment of a mortgage loan by installments...
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