Glossary of Loan Terms. Scholar Financial Solutions

Glossary of Loan Terms. Scholar Financial Solutions

APR: The interest that a debtor will probably pay on that loan, taking into consideration onetime costs, as a method to assess the total price of the loan to your borrower.

Capitalization of Interest: The training of including accrued, unpaid interest to your principal number of a loan which advances the overall quantity lent and interest compensated.

Co-Borrower: A co-borrower is necessary for most private loans when a debtor will not earn income that is sufficient repay the loan or established a credit rating. The co-borrower signs the promissory note with the principal borrower and it is financially prone to repay the mortgage in the event that borrower will not.

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