Finance Charge: the cost that is total of credit. Besides interest costs, the finance cost can sometimes include other expenses such as for instance cash-advance costs.
First Mortgage: the principal loan on 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 amount that is same month, like lease, home loan repayments, vehicle re payments, etc.
Fixed price: mortgage loan for the credit card or loan that stays constant.
Fixed-Rate choice: A home equity personal credit line funding choice which allows borrowers to specify the re payments and interest on a percentage of the stability. This could be done once or twice throughout the life of the mortgage, frequently for the fee that is additional.
Fixed Rate Mortgage (FRM): a home loan with an intention price that stays constant for the whole period associated with loan. FRMвЂ™s have longer terms (15-30 years) and greater rates of interest than adjustable price mortgages but they are maybe maybe not at an increased risk for changing rates of interest.