Refinance

Business / Loan / Refinance: To repay one or more existing mortgage loans by getting a new mortgage loan.

Fixed-Rate Mortgage

Business / Taxes / Fixed-Rate Mortgage: A fixed-rate mortgage is a long-term loan that you use to finance a real estate purchase, typically a home. Your borrowing costs and monthly payments remain the same for the term of the loan, no matte MORE

Negative Amortization

Business / Finance / Negative Amortization: A loan repayment schedule in which the outstanding principal balance of the loan increases, rather than amortizing, because the scheduled monthly payments do not cover the full amount required to amor MORE

Va Loan

Business / Real Estate / Va Loan: A government-sponsored mortgage assistance program administered by the Department of Veterans Affairs. Under the Servicemens Readjustment Act of 1944, eligible veterans and widows or widowers (who hav MORE

Prepayment Penalty

Business / Finance / Prepayment Penalty: A fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. MORE

Balloon Mortgage

Business / Taxes / Balloon Mortgage: With a balloon mortgage, you make monthly payments over the mortgage term, which is typically five, seven, or ten years, and a final installment, or balloon payment, that is significantly larger than MORE

Points

Entertainment / Ice Hockey / Points: The left and right positions taken by the defensemen of the attacking team, just inside the blue line of the attacking zone; also the term used to describe the defensemen playing at this location; als MORE

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