Data

Copy and paste the text below. It is read-only. Select All

adjustable rate mortgage a mortgage with changing interest rate asset-based lending loan secured with the assets of a business balloon mortgage a mortgage in which the entire remaining balance of the loan is due in one single payment bridge loan loan used to cover expenses until long-term financing is secured buy-down mortgage a mortagage in which the borrower prepays part of the interest to get a lower rate commercial lending loans to business enterprises debt ratio total obligations compared to total income debt service coverage ratio comparison of net operating income to the total cost of debt equity the difference between what an item is worth and what is owed on it escrow when something of value is put in the care of a third party until certain conditions are fulfilled, as a deed, money, etc factoring a form of lending that advances cash in exchange for a business's receivables fixed rate mortgage conventional mortgage foreclosure when the mortgage is not paid, the creditor seeks a court-ordered sale of the property loan-to-value ratio amount of loan divided by the property value mortgage a note secured by real property PITI principal, interest, taxes, and insurance point a value equal to 1 percent of loan principal redining discriminatory act whereby banks refuse to lend to residents i certain neighborhoods reverse mortgage form of a cosumer loan tied to the apperciated value of property shared appreciation mortgage form of consumer lending that may lower rate for borrower who agrees to share the property's appreciation with the lender short-term loan financing for a year or less small business administration agency that offers financial, technical, and management programs to help businesses term loan financing for perment working capital, equipment, and real estate