Glossary | GovLoans.gov – Below you will find definitions of loan expressions that may not be familiar to you. You can browse all the words or select a particular loan category and review.
In finance, a loan is the lending of money by one or more individuals, organizations, and/or other entities to other individuals, organizations etc. The recipient (i.e. the borrower) incurs a debt, and is usually liable to pay interest on that debt until it is repaid, and also to repay the principal amount borrowed.
loan | Definition of loan in English by Oxford Dictionaries – Main definitions of loan in English: loan 1 loan 2. loan 1. noun. 1 A thing that is borrowed, especially a sum of money that is expected to be paid back with interest. ‘borrowers can take out a loan for 84,000’.
Glossary – Bankrate.com – A glossary of personal finance terms you need to know. Discover the definition of financial words and phrases.. What is a home equity loan? HELOC vs. Home equity loan ;
Dictionary of Banking Terms and Phrases – Dictionary of Banking Terms and Phrases. A conventional fixed-rate loan is fully paid off over a given number of years-usually 15, 20, or 30. A portion of each monthly payment goes towards paying back the money borrowed, the "principal"; the rest is "interest.".
Unsecured Loans: Definition and Explanation – Student loans are often unsecured. Although some people take cash out of their homes to pay for school, pure student loans through the Department of Education are typically unsecured. "Personal" loans, available from banks, credit unions, and online lenders are unsecured loans you can use for any purpose you want.
What is a loan? definition and meaning – BusinessDictionary.com – Definition of loan: Written or oral agreement for a temporary transfer of a property (usually cash) from its owner (the lender) to a borrower who promises to return it according to the terms of the agreement, usually.
Loan definition and meaning | Collins English Dictionary – Talking about loans You take out a loan or secure a loan. When you pay the money back, you repay it. When someone organizes a loan, they arrange it or fix it. If someone guarantees a loan, they agree to pay back the money if the person who gets the loan does not. With a fixed-rate loan, the amount of interest you pay stays the same, and with an interest-free loan, you do not pay any interest.
Fixed vs. Variable Rate Loans | SoFi – Learn the difference between fixed and variable rate loans so you can know which type is best for you and your situation.