Popular Mortgage Terms

Appraisal Defined

Appraisal: a document that gives an estimate of a property's fair market value; an appraisal is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property

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The definitions of the mortgage terms have been taken from various reliable government
publications and we have done our best to verify their accuracy. If you feel any of the definitions
are incorrect or needs to be updated please contact us and we will look into it.

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