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Glossary of Terms > A > Affordable Housing

Affordable Housing

One of the problems faced by a number of the fast-growing regions of the U.S. As land becomes scarce and speculators buy up large numbers of investment properties, affordable housing units are hard to find for middle- and lower-income residents. Generally, affordable housing is defined as a home that costs the buyer less than 30 percent of his/her income in terms of monthly payments.

A Terms

A-Credit

Acceleration Clause

Accrued Interest

Adjustable-Rate Mortgage

Affordable Housing

Agreement of Sale

Alt-A

Alt-A Mortgage

Amortization

Amortization Schedule

Application

Appraisal

Appraiser

Appreciation

APR

Asking Price

Assessment

Assumable Mortgage

Assumption