Loan Definitions

A term loan is a loan from a bank for a specific amount that has a specified repayment schedule and either a fixed or floating interest rate. A term loan is often appropriate for an established small …

Here are definitions of several terms you will encounter as you confer with lenders: Adjustable-rate mortgage (ARM): A mortgage loan with an interest rate that periodically changes. Annual percentage …

loan terminology glossary. Amortization: Loan payments by equal periodic amounts calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance. Amortized Loan: A loan to be repaid, by a series of regular installments of …

Secured vs. Unsecured Loans in One Minute: Definitions, Explanations and Comparison the act of lendingthe loan of a car. property lent, esp money lent at interest for a period of time. (as modifier)loan holder. the adoption by speakers of one language of a form current in another language. short for loan word. on loan lent out; borrowed.

Notably, HMDA now applies to closed-end mortgage loans, which are defined as “an extension of credit that is secured by a lien on a dwelling.” The definition of “dwelling” is now expanded beyond a 1-4 …

The maximum percentage of the value of securities that a broker can lend to a margin account customer, as dictated by the Federal Reserve Board in Regulation T. Do you have a question that has not yet …

In this case of refinancing, those borrowers will pay more over the course of the loan, as the length of the repayment is extended. Are Lower Payments the Goal of Refinancing? That’s not what we’re …

Loan Description No description loans. Put in other words, the newer loans (which are the only area where no-description loans are present)
Interest Only Refinance About 650,000 borrowers with loans totalling around $230 billion are ‘trapped’ in their interest-only loans and could struggle to refinance,

Definition of loan for English Language Learners. : an amount of money that is given to someone for a period of time with a promise that it will be paid back : an amount of money that is borrowed. : permission to use something for a period of time.

Nov 24, 2003  · loan – definition How a Loan Works. The terms of a loan are agreed to by each party in the transaction before any money… Types of Loans. A number of different factors can differentiate loans and affect their costs and terms. Special Considerations for Loans. Interest rates have a …

A report of an individual’s credit history prepared by a credit bureau and used by a lender in determining a loan applicant’s creditworthiness. credit repository An organization that gathers, records, updates, and stores financial and public records information about the payment records of individuals who are being considered for credit.

(loʊn) n. 1. the act of lending; a grant of the temporary use of something: the loan of a book. 2. something lent or furnished on condition of being returned, esp. a sum of money lent at interest. 3. loanword.