Amortization Gradual payment of a debt in regular, periodic installments of combined principal and interest over a specified period of time.
Adjustment period The period of time between the adjustment dates for an adjustable-rate mortgage (ARM).
Affiliates Companies related by common ownership or control. A., Wells Fargo Insurance, Inc., and Wells Fargo Advisors, LLC.
FHA and VA loans require an addendum be added to a sales contract (the offer) if it is written before the appraisal is done.
Additional principal payment When a customer pays more than the scheduled payment amount, typically made to reduce the remaining balance on the loan.
Abstract of Title A written history of ownership to a specific area of land.
An abstract of title covers the period from the original source of title to the present time and summarizes all subsequent documents that have been recorded against that area.
ACH (Automatic Clearing House) Electronic system that debits an authorized bank account and electronically transfers funds scheduled for remittance.
Acquisition Costs Costs of acquiring property other than purchase price, for example, attorney fees, title insurance, and lender's fees. Addendum An agreement or list added to a contract, agreement, or other document.
Adjustable rate mortgage (ARM) A mortgage with an interest rate that adjusts at scheduled dates based on a pre-selected index.
Adjusted Gross Income A person's total income, as reported on his or her IRS 1040 tax return form, after allowable contributions, deductions, and expenses.
Agreement/Offer An agreement between a buyer and seller of a property that states the price and terms of the sale.