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A description of the different grace periods and lengths associated with Members 1st loans.
A home equity line of credit (often called HELOC) is a loan in which Members 1st agrees to lend an amount of money within an agreed period (called a term)...
Home values are calculated from sold prices, public records of assessed value, and area real estate information. While these estimates can help planning a...
The index rate is used as a benchmark to calculate the interest rate plus a specified margin on a loan. Members 1st commonly uses the 26-Week Treasury Bill...
An examination of property for various reasons (such as a termite inspection) to see if required repairs were made before funds are released, etc.
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...
