Homeowner Education

A Term is a defined word or phrase used to convey a specific meaning within a legal, financial, or real estate context. Rather than relying

A Teaser Rate is a temporarily reduced interest rate offered at the beginning of a loan or credit agreement to make the initial cost of

A Teaser Loan is a type of financing arrangement that begins with a temporarily reduced interest rate designed to make the initial cost of borrowing

A Take-Out Loan is a form of long term financing used to replace short term or interim funding once a project reaches a defined stage

A Subprime Mortgage is a type of home loan offered to borrowers whose credit profiles do not meet the standards typically required for conventional mortgage

Simple Interest is a method of calculating the cost of borrowing or the return on funds where interest is applied only to the original principal

A Simple Interest Loan is a financing arrangement where interest is calculated only on the original principal rather than on accumulated interest. In real estate,

A Servicer is an entity responsible for managing a mortgage or property related loan on behalf of the loan owner. In real estate, a Servicer

Secured Lending is a form of financing in which a loan is backed by specific real property used as collateral. In real estate, this means