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Glossary

Financial Glossary

We at Easy Choice Lending take our business seriously. We want consumers to be as educated as possible about their finances and options. For that reason we supply a frequently updated glossary section of lending terms that will help you to understand all of the content on this site.

Loan Terms:

A

Amortization Loan
Annual Percentage Rate
Appraisal

B

Balloon Payment

C

Clear Title
Collateral
Cosigner
Credit Score

D

Debt Consolidation
Debt-to-Income Ratio
Default on a Loan
Deferred Interest
Delinquency
Depreciation

E

Equity

G

Grace Period

I

Installment Loan

L

Lien
Loan-to-Value Ratio

P

Pre-Approval
Prepayment
Principal

Q

Qualification

R

Rate and Term Refinancing (Mortgage)
Refinancing 
Repeat Borrowing

S

Secured Loan