Acceleration Clause
Allows the lender to speed up the rate at which your loan comes due or even to demand immediate payment of the entire outstanding balance of the loan should you default on you loan.

Adjustable Rate Mortgage
Adjustable Rate Mortgage (ARM) mortgage in which the interest rate is adjusted periodically, based on a pre-selected index. Also sometimes known as the renegotiable rate mortgage, the variable rate mortgage or the rollover mortgage.

Adjustment Interval
On an adjustable rate mortgage, the time between changes in the interest rate and/or monthly payment, typically one, three or five years, depending on the index.

A-Credit
A consumer with the best credit rating, deserving of the lowest prices that lenders offer. Most lenders require a FICO score above 720.

Reminders
Personal interest. Personal interest is not deductible.Examples of personal interest include interest on a loan to purchase an automobile for personal use and credit card and installment interest incurred for personal expenses.
But you may be able to deduct interest you pay on a qualified student loan.

Home Mortgage Interest
This part explains what you can deduct as home mortgage interest. It includes discussions on points and on how to report deductible interest on your tax return. Generally, home mortgage interest is any interest you pay on a loan secured by your home (main home or a second home). The loan may be a mortgage to buy your home, a second mortgage, a line of credit, or a home equity loan.
You can deduct home mortgage interest only if you meet all the following conditions.

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