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