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Finance Glossary - Key Financial Terms Simplified

Key Financial Terms

Amortization
Annual Percentage Rate (APR)
Application
Appraisal
Asset
Balance
Borrower
Bridge Loan
Balloon Payment
Bank
Collateral
Credit Score
Co-signer
Closing Costs
Compound Interest
Default
Down Payment
Debt-to-Income Ratio (DTI)
Deed of Trust
Due Date
Equity
Escrow
Early Repayment
Expenditure
Extended Term
Fixed Interest Rate
Foreclosure
Fees
Finance Charge
Flexible Loan
Grace Period
Guarantor
Government Loan
Good Faith Estimate (GFE)
Gross Income
Home Equity Loan
Hardship
Hybrid Loan
Homeowner’s Insurance
Housing Loan
Interest Rate
Installment
Interest-Only Loan
Income
Insurance
Joint Account
Judgment
Junior Loan
Job Loss Protection
Jumbo Loan
Key Rate
Kickback (illegal)
Know Before You Owe
Knowledge Test
Knockdown Loan
Lender
Loan Agreement
Line of Credit
Loan Term
Liability
Mortgage
Maturity Date
Minimum Payment
Margin
Mortgage Insurance
Note
Net Income
Non-Recourse Loan
Negative Amortization
Notary
Origination Fee
Overdraft
Outstanding Balance
Online Loan
Obligation
Principal
Prepayment Penalty
Private Mortgage Insurance (PMI)
Promissory Note
Payment Schedule
Qualifying Ratio
Quotation
Quick Loan
Quarterly Payments
Quiet Title
Refinancing
Repayment
Risk
Revolving Credit
Rate Lock
Secured Loan
Subsidized Loan
Servicer
Second Mortgage
Statement
Term
Trustee
Title Insurance
Transaction
Tax Deduction
Underwriting
Unsecured Loan
Usury
Upside Down Loan
UCC Filing
Variable Interest Rate
Valuation
Verification
Vesting
VantageScore
Waiver
Withdrawal
W-2 Form
Warranty
Workout Plan
X-factor (unexpected event impacting loan)
XML (used in online loan applications)
X (used in signing documents)
Yield
Yearly Interest
Yield Spread Premium
Year-to-Date (YTD) Earnings
Youth Loan
Zoning Laws
Zero Down Payment
Zero Percent Interest
Zero-Balance Loan
Z-Score

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