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Glossary of Terms > A > ASSETS

ASSETS

Any item of value owned by an individual. You will probably have to establish your assets in order to get a mortgage. Assets that can be quickly converted into cash, such as bank accounts, stocks, bonds and mutual funds, are considered "liquid assets." Other assets include real estate, personal property, and debts owed to an individual by others.

A Terms

ACCELERATION CLAUSE

ADJUSTABLE-RATE MORTGAGE (ARM)

ALT-A MORTGAGE

AMORTIZATION

ANNUAL PERCENTAGE RATE (APR)

APPLICATION

APPRAISAL

APPRAISER

APPRECIATION

ASKING PRICE

ASSESSMENT

ASSETS

ASSIGNMENT

ASSUMABLE MORTGAGE

ASSUMPTION