Finance Charge: the full total cost of making use of credit. Besides interest fees, the finance cost can sometimes include other costs such as for example cash-advance charges.
First Mortgage: the main loan for a real-estate. This loan has concern over all the other вЂњsecondaryвЂќ loans.
Fixed cost: costs that donвЂ™t vary from every month; any bill that’s the exact same quantity every thirty days, like lease, mortgage repayments, vehicle re re re payments, etc.
Fixed Rate: mortgage loan for a credit loan or card that continues to be constant.
Fixed-Rate choice: a true house equity personal credit line funding choice which allows borrowers to specify the re payments and interest on a percentage of the stability. This is often done once or twice throughout the life of the mortgage, often for an extra charge.
Fixed Rate Mortgage (FRM): home financing with an intention price that stays constant for the entire extent associated with loan.