Adjustment Period
The period elapsing between adjustment dates for an adjustable rate mortgage.

Amortization Term
The length of time required to amortize the mortgage loan expressed as a
number of months. For example, 360 months is the amortization term for a 30- year fixed rate mortgage.

Appraised Value
An opinion of a property's fair market value, based on an appraiser's knowl- edge and analysis of the property.

Assessment
A local tax levied against a property for a specific purpose, such as a sewer.

Assumption Fee
The fee paid to a lender (usually by the purchaser of real property) when an assumption takes place.