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Any additional borrower(s) whose name(s) appear on loan documents and whose income and credit history are used to qualify for the loan. Under this...
Collateral Protection Insurance (CPI) pertains to a situation that occurs when your vehicle insurance changes or lapses during the life of a vehicle loan...
Combined Loan-To-Value ratio (CLTV) is the proportion of loans (secured by a property) in relation to its value. The term "Combined Loan To Value" adds...
Compound interest is the interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. This addition...
An agreement between a general contractor and an owner/developer stating the specific duties the general contractor will perform according to blueprints...
A partial disbursement of the construction loan based on the schedule of payments in the loan agreement.
A credit card is a revolving line of credit from which the cardholder can borrow money for payment to a merchant or as a cash advance. Any purchases or cash...
An assessment of the likelihood that a borrower can fulfill his or her loan (debt) obligations. It is based upon factors, such as his/her history of...
A daily periodic interest rate is calculated by dividing the annual percentage rate, or APR, by either 360 or 365. The...
A debit card issued by Members 1st Credit Union allows you to transfer money electronically when making a purchase in person, online, or by phone. Debit cards..
