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Glossary
Glossary
Glossary | |
| Terms that are on use on this site. | |
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| There are 3 entries in the glossary. | |
| Pages: 1 | |
| Term | Definition |
| Portfolio | A grouping of investments. |
| Prepayment Penalty | A fee that a lender charges a borrower who pays off their loan before the end of its scheduled term. Prepayment penalties are not charged by most standard lenders. Subprime borrowers should review the terms of their loan offers carefully to see if this fee is included. |
| Private Mortgage Insurance (PMI) | A form of insurance that protects the lender by paying the costs of foreclosing on a house if the borrower stops paying the loan. Private mortgage insurance usually is required if the down payment is less than 20% of the sale price. |
| Glossary V2.0 | |
