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| Finance
Charge |
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The
total amount of interest, prepaid finance charge and
specific required insurance premiums (if applicable) that
the borrower is expected to pay over the life of the loan.
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| First
Mortgage |
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A
real estate loan with a lien (i.e., mortgage or deed of
trust) on the subject property that has priority over any
subsequently lien.
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| Fixed
Interest Rate |
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An
interest rate that does not change during the entire term or
life of the loan.
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| Fixed
Monthly Debt |
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The
amount of monthly payment required to be paid each month.
Sometimes referred to as "minimum monthly payment"
for credit card or revolving accounts.
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Copyright 2007 © Lending Table
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