Basic Home Loan Terms That You Need To Know

Annual Percentage Rate BASIC HOM FORECLOSED НOМЕ LOAN TERMS ANNUAL PERCENTAGE RATE (APR) FORECLOSURE Transfer of property ownership to the bank in case a default in As with other types of loans, a service fee in the form of interest is added to the principal cost in exchange for the funds advanced by the bank. Interest rates are commonly displayed on an annual basis, which is also referred to as Annual Percentage Rate or APR monthly payments occur THAT YOU NEED TO KNOW LOAN TENURE REFINANCING Equip yourself with basic knowledge on home loans, by learning the topic's most commonly used terms and expressions. The period or length of time alloted to fully pay off a loan that is usually measured in months or years The process of taking out a new loan to pay off the balance from an existing home loan with lower interest rate or longer tenure I BANK CHECK BANK CREDIT CARD O PRINCIPAL DOWN PAYMENT PREPAYMENT The total property value or amount that has to be subsidized by the bank A required upfront payment which is a portion of the total property cost An advance payment for the remaining loan balance PURSUIT OF PASSION