Do You Speak Real Estate?

Written by Mark Walters

Anyone interested in real estate should be able to talkrepparttar talk. Here is a list of common phrases and words with a short explanation. Use it as a reference:

Adjustable Rate Mortgage (ARM). A type of mortgage loan whose interest rate changes periodically up or down, usually once or twice a year. They are tied to an interest rate index like 11th District Cost of Funds.

Annual Percentage Rate (APR). Everything financed in your mortgage loan package (interest, loan fees, points or other charges) expressed as a percentage ofrepparttar 149862 loan amount (usually slightly aboverepparttar 149863 actual interest rate alone).

Assumable Loan. A loan in whichrepparttar 149864 lender is willing to "transfer" fromrepparttar 149865 previous owner ofrepparttar 149866 home torepparttar 149867 new owner, sometimes atrepparttar 149868 same interest rate, sometimes at a new rate. An assumable loan can make your home more attractive to buyers when you want to sell. Oftenrepparttar 149869 new buyer has to qualify forrepparttar 149870 assumption just as he/she would for a new loan.

Closing Costs. Costsrepparttar 149871 buyer must pay atrepparttar 149872 time of closing in addition torepparttar 149873 down payment: including points, mortgage insurance premium, homeowners insurance, prepayments for property taxes, etc. Closing costs average 3% to 4% ofrepparttar 149874 loan amount.

Contingency. A condition put on an offer to buy a home; such asrepparttar 149875 prospective buyer making an offer contingent on his or her successful sale of a present home.

Conventional Mortgage. A type of mortgage not insured by eitherrepparttar 149876 Federal Housing Administration (FHA) orrepparttar 149877 Department of Veterans Affairs (VA), and thus usually requiring a 10% to 20% down payment.

Earnest Money. Funds submitted with an offer to show "good faith" to follow through withrepparttar 149878 purchase. Earnest money is placed byrepparttar 149879 buyer into an escrow/trust account until closing, when it becomes part ofrepparttar 149880 down payment or closing costs.

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Written by Doug Fowler

When purchasing an office chair, there are things that you need to consider. Sure, everyone wants a nice comfortable chair, but there are other factors involved as well. Think for a moment how long you sit in your chair. Is it hours upon hours of time? If so, you will need to have support for your back and legs during that time. But, before we get into those details, let's make sure you understand that buying an office chair is an experience that takes some time, some patience and some understanding ofrepparttar circumstances. Here arerepparttar 149805 things we think you need to consider first. * Okay, so one ofrepparttar 149806 most important things about buying an office chair isrepparttar 149807 level of comfort that it offers. Now, before you head out and get a super soft office chair, considerrepparttar 149808 fact that you will need to stay awake duringrepparttar 149809 day. The more comfortable you are,repparttar 149810 more opportunity you will have to dose off! (Especially in those warm afternoons with a stomach full of food!) * When you sit inrepparttar 149811 office chair, you will want to insure that you are atrepparttar 149812 right level to your desk. Just a few degrees off and you will be putting strain on your arms, shoulders and spine. This can lead to discomfort and eventually pain or injury.

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