A

Annual Percentage Rate (APR)

is the total annual cost you pay (including the interest rate, points and fees) as the borrower on your loan. The APR is a good tool for comparing rates on different loans.

年利率 (APR)

是您作為貸款者為您的貸款支付的年度總費用(包括利率、點數及收費)。年利率可用來作為比較不同貸款利率的工具。

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Actual Cash Value

An amount equal to the replacement value of damaged property minus depreciation.

實際現金價值 (Actual Cash Value)

相當於被毀損物業的重建價值減去其貶值。

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Adjustable-Rate Mortgage (ARM)

Also known as a variable-rate loan, an ARM usually offers a lower initial rate than a fixed-rate loan. The interest rate can change at a specified time, known as an adjustment period, based on a published index that tracks changes in the current finance market. Indexes used for ARMs include the LIBOR index and the Treasury index. ARMs also have caps, a maximum and minimum that the interest rate can change at each adjustment period.

浮動利率貸款 (Adjustable-Rate Mortgage, ARM)

亦稱調整性利率貸 款,浮動利率提供的初始利率通常低於固定貸款利率。其利率在特定時期內 (稱為調整階段)根據當前金融市場指數變化。用於浮動利率的指數包括 LIBOR指數及國庫券指數。浮動利率貸 款的利率調整是有限度的,也就是說利率在每個調整階段都有一個最高及最低 調整範圍。

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Adjustment Period

The time between interest rate adjustments for an ARM. There is usually an initial adjustment period, beginning from the start date of the loan and varying from 1 to 10 years. After the first adjustment period, adjustment periods are usually 12 months, which means that the interest rate can change every year.

調整階段 (Adjustment Period)

兩次利率調整之間的時間。浮動利率貸款大多有一個初始調整階段,這個階段從貸款之日起,延續一至十年不等。在初始調整階段之後,通常是每十二個月調整一 次,這表示利率可能每年變化。

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Amortization

Paying off a loan over the period of time and at the interest rate specified in a loan document. The amortization of a loan includes in each mortgage payment the payment of interest and a part of the amount borrowed.

分期償還 (Amortization)

在貸款期內按照貨款文件中指定的利率償還貸款。在此期間,每筆付款都包含有應付利息及部份本金。

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Amortization Schedule

Provided by mortgage lenders, the schedule shows how, over the term of your mortgage, the principal portion of the mortgage payment increases and the interest portion of the mortgage payment decreases.

分期償還表 (Amortization Schedule)

由抵押貸款機構提供,分期償還表會向 您顯示在貸款期內,本金是如何由少變 多,而利息部份是如何由多變少的。

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Annual Percentage Rate (APR)

How much a loan costs annually. The APR includes the interest rate, points, broker fees and certain other credit charges a borrower is required to pay.

年利率 (Annual Percentage Rate, APR)

把申請貨款所忖出的費用計算在 內,折算出來的利率。APR的計算包括 了利率、點數、經紀費以及貸款人須付的其它一些相關費用。

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Application Fee

The fee to cover processing costs that a mortgage lender charges the borrower to apply for a mortgage.

申請費 (Application Fee)

貸款機構向申請貨款者收取,用於審批貸款申請的費用。

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Appraisal

A professional analysis used to estimate the value of the property. This includes examples of sales of similar properties.

估價 (Appraisal)

專業人員對抵押房屋的價值作出的分析報告,包括對鄰近地區類似房屋近期內銷售價格的比較。

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Appraiser

A professional who conduct an analysis of the property, including examples of sales of similar properties, to develop an estimated value of the property. The analysis is called an appraisal.

估價師 (Appraiser)

對房屋價值進行分析的專業人員。這些專業人員通過對 鄰近地區類似房屋近期內銷售價格的比 較,來評估該抵押房產的價值。這個分析過程就叫估價。

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Appreciation

An increase in the market value of a home due to changing market conditions and/or home improvements.

增值 (Appreciation)

因為房屋市場的變化,或者屋主對房屋的整修,而使房屋的市場價值提高。

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Arbitration

A process where disputes are settled by referring them to a fair and neutral third party (arbitrator). The disputing parties agree in advance to agree with the decision of the arbitrator. There is a hearing where both parties have an opportunity to be heard, after which the arbitrator makes a decision.

仲裁 (Arbitration)

由公平與中立的第三方(仲裁人)主持的解決爭議的程 序。爭議各方事先同意接受仲裁人的決 定。首先召開聽證會,聽取爭議雙方的意見,然後由仲裁人作出決定。

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Asbestos

A toxic material that was once used in housing insulation and fireproofing. Because some forms of asbestos have been linked to certain lung diseases, it is no longer used in new homes. However, some older homes may still have asbestos in these materials.

石棉(Asbestos)

一種曾經用於房屋絕 緣及防火的有毒材料。由於發現某些類型的石棉與某些類型的肺病有關聯,在新建房屋中已經不再使用石棉。但是,一些較老的房屋的建築材料中仍然可能 有石棉。

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Asset

Something of value an individual owns.

資產 (Asset)

個人擁有的動產和不動產。

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Assumption

A homebuyer’s agreement to take the primary responsibility for paying an existing mortgage from a home seller.

貨款轉讓 (Assumption)

房屋買方同意為賣方承擔支付現有抵押貸款的主要責任。

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B

Balloon Mortgage

A mortgage with monthly payments based on a 30-year amortization schedule, with the unpaid balance due in a lump sum payment at the end of a specific period of time (usually five or seven years). The mortgage contains an option to “reset” the interest rate to the current market rate and extend the due date if certain conditions are met.

氣球式貨款 (Balloon Mortgage)

這種貸款按照三十年分攤方法每月付款,在 五年或七年後一次性付清餘額。如果符合條件,此類貸款可以選擇使用市場利率來取代原有利率,並且可將最終付款期限延長。

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Bankruptcy

A legal declaration that you are unable to pay your debts. Bankruptcy can severely affect your credit record and your ability to borrow money.

破產 (Bankruptcy)

宣佈無力償還債務的法律聲明。破產會嚴重影響您的信用記錄以及您的貸款能力。

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C

Cap

A limit to how much an adjustable rate mortgage’s monthly payment or interest rate can increase. A cap protects the borrower from large increases and may be a payment cap, an interest cap, a life-of-loan cap or an annual cap. A payment cap is a limit on the monthly payment. An interest cap is a limit on the amount of the interest rate. A life-of-loan cap restricts the amount the interest rate can increase over the entire term of the loan. An annual cap limits the amount the interest rate can increase during a 12-month period.

限度 (Cap)

對浮動利率貸款每月付款或利率調整幅度的限制。限度可能是付款額限度、利率限度、貸款期利率限度,或是利率年度限度。設定限度可以確保貸款者的付款或利率不會有大幅度 提升。付款限度指每月款限額。利率限度指利率調整幅度的限制。貸款期利率限度,限制利率在整個貸款期限內可達到的最高限額。利率年度限度限制利率 在十二個月內可以調整的額度。

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Capacity

Your ability to make your mortgage payments on time. This depends on your income and income stability (job history and security), your assets, your savings and the amount of your income that remains each month after you have paid your housing costs, debts and other obligations.

付款能力 (Capacity)

您按時支付貸款的能力。這取決於您的收入以及收入的穩定性(工作史及工作穩定)、您的資產、儲蓄以及在支付房屋開銷、債 務及其他債務後每月剩餘的收入。

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Closing (Closing Date)

The completion of the real estate transaction between buyer and seller. The buyer
signs the mortgage documents, and the closing costs are paid. It is also known as the settlement date.

成交(成交日期)(Closing (Closing Date))

房屋買方與賣方之間完成房地產買賣交易。買方簽署抵押貸款文件,支付成交費用。亦稱為結算日期。

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Closing Agent

A person who coordinates closing-related activities, such as recording the closing documents and disbursing funds.

成交代理 (Closing Agent)

協調成交手續的人士,例如將成交文件備案及處理各項費用。

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Closing Costs

The costs to complete the real estate transaction. These costs are in addition to the price of the home and are paid at closing. They include points, taxes, title insurance, financing costs, items that must be prepaid or escrowed and other costs. Ask your lender for a complete list of closing cost items.

成交費 (Closing Costs)

完成房地產交易所需的費用。此類費用是除房屋買價之外的費用,須在成交時支付。成交費包括點數、稅款、產權保險、融資費、必須預付或存入代管帳戶的費用等。您可以向您的貸款機構索取一份完整的成 交費用清單。

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Credit

Credit is the ability to borrow tomorrow’s money to pay for something you get today, such as a home, furniture or car. It is a promise to repay a debt, and it reflects on your reputation. Credit may be extended through credit cards, personal loans, car loans and home mortgages.

信用(Credit)

信用是能夠借用明天的錢來支付今天購買的東西,例如住宅、家俱或汽車。信用是對償還債務的承諾, 它關係著您的名譽。信用可以通過信用卡、個人貸款、汽車及房屋貸款來取得。

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Credit Score

A computer-generated number that summarizes your credit profile and predicts the likelihood that you will repay future debts.

信用分數 (Credit Score)

電腦計算的數字,該數字總結您的信用,並預測您償還未來債務的可能性。

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How to Check Your Credit Scores?

According to the Fair Credit Reporting Act, consumers can ask for a free credit report every 12 months. For more details, go to www.annualcreditreport.com or call (877) 322-8228.

如何查詢我的信用報告和分數?

根據“公平信用報告法”規定,消費者每12個月可免費索取一份信用報告。詳情請瀏覽網頁www.annualcreditreport.com或致電(877)322-8228

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