Contact Information
Jones & Carter
Phone
(512) 267-1121
Fax
(512) 267-7046
E-Mail Us
Jones & Carter
18650 Highway Ranch Road 1431
Jonestown, TX 78645
Articles and Links
Different Types of Loans
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Refinancing
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Leveraging Your Money
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Length of Your Mortgage
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Saving for the Down Payment
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Closing Costs
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How Mortgage Loans Work
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When To Pay Points
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Adjustable-Rate Mortgages
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How Much Can You Afford?
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Getting Your Finances in Order
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Your Credit History
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Mortgage Glossary
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Home Advice
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Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Other
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Abstract of judgment,law The summary of a court judgment that creates a lien against a property when filed with the county recorder.
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Accelerated cost recovery system A tax calculation that provides greater depreciation in the early years of ownership of real estate or personal property.
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Acceleration clause A provision that gives a lender the right to collect the balance of a loan if a borrower misses a payment.
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Accelerated depreciation A bookkeeping method that depreciates property faster in the early years of ownership.
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Acceptance The seller's written approval of a buyer's offer.
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Access Any means by which a person can enter property.
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Accessibility The degree to which a building or site allows access to people with disabilities.
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Accretion The gradual addition to the shore or bank of a waterway by deposits of sand or silt.
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Acknowledgment A written declaration affirming that a person acted voluntarily.
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Acre A measurement of land equal to 43,560 square feet.
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Acre foot The volume of material needed to cover an acre of land one foot deep.
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Active solar system A system that utilizes electric pumps or fans to transfer solar energy for storage or direct use.
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Actual age The number of years a structure has been standing.
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Addendum An addition or change to a contract.
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Additional principal payment Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan.
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Add-on interest The interest a borrower pays on the principal for the duration of the loan.
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Adjustable-rate mortgage (ARM) A loan with an interest rate that is periodically adjusted to reflect changes in a specified financial index.
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Adjusted cost basis The cost of any improvements the seller makes to the property. Deducting the cost from the original sales price provides the profit or loss of a home when it is sold.
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Adjustment period The amount of time between interest rate adjustments in an adjustable-rate mortgage.
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Administrator A person given authority to manage and distribute the estate of someone who died without leaving a will.
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Administrator's deed A legal document that an administrator of an estate uses to transfer property.
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Adverse possession The acquisition of title to property through possession without the owner's consent for a certain period of time.
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Adverse use The access and use of property without the owner's consent.
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Aeolian soil Soil that is composed of materials deposited by the wind.
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Affiant A person who makes a sworn statement.
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Affirmation A substitution for an oath granted to people based on religious reasons.
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A-frame design An interior style that features a steeply peaked roofline and a ceiling that is open to the top rafters.
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Agency The relationship of trust that exists between sellers and buyers and their agents. The agency is formed through a written contract.
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Agency closing The process by which a lender uses a title company or other firm as an agent to complete a loan.
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Agent A person licensed by the state to conduct real estate transactions.
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Agreed boundary A compromise boundary to which property owners agree in order to resolve a dispute.
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Agreement of sale A document the buyer initiates and the seller approves that details the price and terms of the transaction.
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Alcove A recessed section of a room, such as a breakfast nook.
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Alienation clause A provision that requires the borrower to pay the balance of the loan in a lump sum after the property is sold or transferred.
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Alkali Mineral salt found in soil.
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Alkaline soil Soil that contains a higher concentration of mineral salt than natural acid.
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Alley A lane behind a row of buildings or between two rows of buildings.
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Allowances Budgets offered by builders of new homes for the purchase of carpeting and fixtures.
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Alternative mortgage Any home loan that does not conform to a standard fixed-rate mortgage.
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Aluminum-clad windows Wooden windows with aluminum covering the exterior.
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Aluminum siding A metal covering that provides an alternative to paint for owners of wood homes.
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Amenities Parks, swimming pools, health-club facilities, party rooms, bike paths, community centers and other enticements offered by builders of planned developments.
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American Society of Home Inspectors The American Society of Home Inspectors is a professional association of independent home inspectors. Phone: (800) 743-2744.
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Americans with Disabilities Act A law passed in 1990 that outlaws discrimination against a person with a disability in housing, public accommodations, employment, government services, transportation and telecommunications.
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Amortization The process of paying the principal and interest on a loan through regularly scheduled installments.
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Amortization tables Mathematical tables that lenders use to calculate a borrower's monthly payment.
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Amperage The strength of an electrical current.
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Anchor bolt A large steel bolt anchored in concrete and attached to a building to prevent the structure from moving.
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Annual Any kind of plant that must be planted every year.
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Annual mortgagor statement A yearly statement to borrowers that details the remaining principal and amounts paid for taxes and interest.
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Annual Percentage Rate (APR) The cost of the loan expressed as a yearly rate on the balance of the loan.
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Annuity The payment of a fixed sum to an investor at regular intervals.
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Anticipatory breach A communication that informs a party that the obligations of the original contract will not be fulfilled.
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Application A document that details a potential borrower's income, debt and other obligations to determine credit worthiness.
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Application fee The fee that a lender charges to process a loan application.
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Appraisal An opinion of the value of a property at a given point in time.
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Appraisal fee The fee that an appraiser charges to estimate the market value of the property.
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Appraisal report A detailed written report on the value of a property based on recent sales of comparable sites in the area.
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Appraised value An opinion of the current market value of a property.
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Appreciation An increase in the value of a home or other property..
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Arbitration A method of resolving a dispute in which a third party renders a decision.
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Arbor An area shaded by trees, shrubs or vines on a latticework structure.
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Arch A curved structure that supports weight over an area, such as a doorway.
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Architect A licensed professional who designs homes, buildings and other structures.
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Architectural fees The fee an architect charges for services. In general, architects charge for their services by the hour, by the square foot, or by a percentage of the project budget.
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Arpent A French measurement of land equal to .84625 acres.
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Asbestos A fire-resistant mineral used for insulation and home products that has been found to pose a health hazard.
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As-is condition The purchase or sale of a property in its existing condition.
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Asking price A seller's initial price for a property.
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Assessed value A tax assessor's determination of the value of a home in order to calculate a tax base.
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Assessment The estimated value of a piece of real estate or a levy placed on property in addition to taxes.
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Assessment rolls A list of taxable property compiled by the assessor.
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Assets Items of value which include cash, real estate, securities and investments.
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Assignor A person who transfers rights and interests of a property.
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Assumable mortgage A mortgage that can be transferred to another borrower.
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Assumption clause A provision that allows a buyer to take responsibility for the mortgage from a seller.
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Assumption fee A fee the lender charges to process new records for a buyer who assumes an existing loan.
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Average price The price of a home determined by totaling the sales prices of all houses sold in an area and dividing that number by the number of homes.
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Avigation easement An easement over private property near an airport that limits the height of structures and trees.
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Awning windows Single-sash windows that tilt outward and up.
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