Understanding the Cost of Loans: Add-On Interest Explained
An amortized loan is a type of loan where payments are systematically applied to both the principal and interest.
A financial term that defines the maximum amount a lender is willing to lend based on collateral value.
Understanding Capitalized Interest: The Financing Fancy Dance
A cash advance is a quick and easy short-term loan that will have you sprinting from your bank to the next coffee shop faster than you can say 'high-interest rates!'
Exploring the multifaceted world of credit - the good, the bad, and the humorous.
A credit card is a flexible financial tool that allows you to borrow money for purchases, with a promise to pay it back later — sometimes with a bit of interest!
A Credit Report includes your credit history, impacting various aspects of your financial life, compiled by credit bureaus.
Default refers to the failure to make required interest or principal repayments on a debt.
A Delayed Draw Term Loan is a financing tool that provides borrowers with access to funds at a specified time in the future, allowing for flexibility in cash flow management.
A borrower-friendly payment plan that spells 'commitment.'
A Credit Score Used by Lenders to Evaluate Borrower Creditworthiness
Understanding financial guarantees and their role in securing debt.
An unchanging rate charged on liabilities such as loans or mortgages.
A fixed-rate mortgage is a home loan with a constant interest rate for the full term, providing buyers with predictability and peace of mind.
Unlock the mysteries of General Collateral Financing Trades with wit, wisdom, and a dash of humor.
A loan that a third party guarantees, ensuring repayment in the event of default.
A guarantor guarantees to pay a borrower's debt if the borrower defaults on their loan obligation, adding a safety net to the financial equation.
A hard inquiry occurs when a lender requests your credit report from a credit bureau, typically after applying for a loan or credit.
Impaired Credit: The Ups and Downs of Creditworthiness
Invoice financing is a solution for businesses needing quick cash flow based on their outstanding invoices.
The key rate is the specific interest rate that determines bank lending rates and the cost of credit for borrowers.
