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annual percentage rate (APR)
The cost of a mortgage stated as a yearly rate; includes such items as interest, mortgage insurance, and loan origination fee (points).
application
A form, commonly referred to as a 1003 form, used to apply for a mortgage and to provide information regarding a prospective mortgagor and the proposed security.
appraisal
A written analysis of the estimated value of a property prepared by a qualified appraiser.
appraiser
A person qualified by education, training, and experience to estimate the value of real and personal property.
appreciation
An increase in the value of a property due to changes in market conditions or other causes.
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