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The annual percentage rate (or APR) is the amount of interest on your total loan amount that you'll pay annually (averaged over the full term of the loan). A...
An opinion or estimate of marketable value. Also refers to the process by which a value estimate is obtained.
Setting up automatic payments for credit union loans.
Written authorization given by a local municipality that allows a newly completed or substantially renovated structure to be inhabited.
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 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.
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...
