Appraisal value, Appraisal value is the market value of an asset that is derived from the appraisal process. Depending on the asset, the method used to appraise the asset will differ. For homes, appraisers often use a method that includes recent sales data of comparable homes. They may also use the replacement method, which is the cost to replace the home at today’s prices.

The cash you deposit towards the purchase of home, car, etc. The larger the down payment, the less you are required to borrow.

The period of a loan, generally measured in years. Auto loans generally range from 2 to 5 years. Mortgage loans: 15 to 30 years.

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of money.