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Mortgage Term Glossary

Assurance Financial

Assessed Value. The assessed value of your home is how much it is worth in the eyes of the tax agency in your municipality. The assessed value is used to calculate your property taxes. It can be less than the market or appraised value of your home. Fair Market Value.

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Important Mortgage Acronyms

Assurance Financial

Loans with an AMI limit are typically designed to help people who would otherwise not qualify for a mortgage to purchase a home. Downloadable Guides. Click here to download the file. Click here to download the file. FMV (Fair Market Value). Municipalities often use FMV to determine the tax rate on a home.