Adjustable rate mortgage (ARM) A type of mortgage loan whose interest rate is tied to an economic index, which fluctuates with the market. Typical ARM periods are one, three, five, and seven years.

Bridge Loans Bridge loans are often used for commercial real estate purchases to quickly close on a property, retrieve real estate from foreclosure, or take advantage of a short-term opportunity in order to secure long term financing. Bridge loans on a property are typically paid back when the property is sold, refinanced with a traditional lender, the borrower's creditworthiness improves, the property is improved or completed, or there is a specific improvement or change that allows a permanent or subsequent round of mortgage financing to occur. The timing issue may arise from project phases with different cash needs and risk profiles as much as ability to secure funding.   Buyer Agency  A real estate agent is hired to work in the best interests of a buyer in a real estate transaction. The agent's loyalties are with the buyer. It is the agent's duty to share any information about the property or sellers that may help the buyer make decisions regarding the transaction.  Agent status must be disclosed to all parties.   Fixture Personal property that has become part of the property through permanent attachment.