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Interest Rate is the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding...
A late fee is assessed when the payment for a loan has not been received and the grace period has passed.
A legal hold or claim of a creditor on the property of another as security for a debt. Liens may be against real or personal property.
Loan coupons contain your payment amount and due date associated with your loan and can be used to help...
The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. The term is commonly...
Architectural and engineering drawings and specifications for construction of a building or project. They include a description of materials to be used...
We here at Members 1st Credit Union are not familiar with this term. Why would a financial institution penalize you for making early payments? We certainly...
The Members 1st routing number is 321174738. A routing number is a unique identifier assigned to every financial institution and used for settling check...
A term is the duration of time you have agreed to repay a loan balance. In most cases, loans can be repaid quicker than the length of the term. Subsequently...
A variable interest rate loan is a loan in which the interest rate charged on the outstanding balance varies as market interest rates change. As a result...