Mortgage Glossary, Loan
Terms and Economic Terms for Interest Only Loans
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Mortgage Glossary - I Terms
Index: a measurement used
by lenders to determine changes to the Interest rate charged on
an adjustable rate mortgage.
Inflation: the number
of dollars in circulation exceeds the amount of goods and services
available for purchase; inflation results in a decrease in the dollar's
value.
Interest: a fee charged
for the use of money .
Interest rate: the
amount of interest charged on a monthly loan payment; usually expressed
as a percentage.
Insurance: protection
against a specific loss over a period of time that is secured by
the payment of a regularly scheduled premium.
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