Examlex
Bloggers and other users of social media often refer to the MSM. What does this acronym stand for?
Mortgage
A loan used to purchase a property, secured by the real estate itself, typically paid back over a long term with interest.
Interest
The charge for borrowing money, typically expressed as an annual percentage rate.
ARM
Adjustable Rate Mortgage; a type of mortgage loan where the interest rate varies throughout the loan period based on an index.
Equity
The amount of a home that an owner actually owns.
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