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“Consumer Loans”

QuestionAnswer
Acceptance (referring to real estate contracts) Acceptance refers to the act of agreeing to the terms and conditions of a contract or offer
Austable-rate mortgage (ARMdj) An ARM is an Adjustable Rate Mortgage.
Amortization table Free amortization calculator: see your monthly payment and a full amortization schedule — interest and principal for every payment, plus a balance chart.
Closing costs (referring to a mortgage) Collateral Borrowers typically pay 3% For mortgage clients, closing costs typically range from 3% – 6% of the loan amount or purchase price.
Counteroffer (referring to real estate contracts) in the home buying process, a counteroffer is an offer made in response to the original bid. When a seller gets an offer, they can choose to
Earnest money Earnest money is an amount of money paid toward the purchase of a home, which demonstrates the buyer's good-faith intent to complete the transaction.
Equity (referring to real estate/housing) Equity (referring to real estate/housing)
Finance charge The finance charge is the cost of consumer credit as a dollar amount. It includes any charge payable directly or indirectly by the consumer and imposed directly
Fixed-rate mortgage Mortgage Rates Average 7.03% · The 30-year fixed-rate mortgage averaged 7.03% as of September 24, 2026, up from last week when it averaged 6.95%. A year ago at .
Interest The meaning of INTEREST is a feeling that accompanies or causes special attention to something or someone : concern.
Lien A lien is a security interest or legal right acquired in one's property by a creditor, or lienholder.
Market value (referring to real estate) A lien on a property is related to unpaid debt and can prevent the sale of a home. Learn how agents can help clients deal with property liens and creditors.
Points (referring to a mortgage) A mortgage point equals 1 percent of your total loan amount — for example, on a $100,000 loan, one point would be $1,000.
Principal (referring to loans) Principal in a loan refers to the initial amount of money borrowed, excluding any interest, fees, and charges.
Created by: user-2063991
 

 



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