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Co-Borrower

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...

Combined Loan-To-Value (CLTV)

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

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...

Construction Loan

Learn more about building your dream home with the Members 1st Construction Loan.

Construction Loan Guide

Our construction loan overview including builder questionnaire, loan guide, and origination overview.

Credit Union News

Catch up with the latest news and events from Members 1st.

Credit Worthiness

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...

Daily Periodic Rate

A daily periodic interest rate is calculated by dividing the annual percentage rate, or APR, by either 360 or 365. The...

Debt Consolidation

Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. Common loans people want to consolidate are high...

Deductible

Deductibles are commonly used with insurance policies where the deductible is the amount of expenses that must be paid out of pocket before an insurer will...

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