APR
Annual Percentage Rate. The yearly borrowing cost including interest and eligible fees.
Loan Glossary
Plain-language definitions borrowers actually use.
Principal
The original amount borrowed, before interest.
Amortization
The schedule that splits each payment into principal and interest over time.
Debt-to-Income Ratio (DTI)
Monthly debt obligations divided by monthly gross income.
Refinancing
Replacing a current loan with a new one, usually to reduce rate or payment.
Term
The number of months or years used to repay a loan.