Glossary of Terms
Credit Glossary
It's hard enough trying to stay on top of your credit let alone learn the industry lingo. We've compiled a glossary of industry terms to help you stay ahead of the curve when dealing with your credit, auto loans, home loans, debt, and savings.
- 401K
- A savings plan that allows employees to contribute a fixed amount of income to a retirement account and to defer taxes until withdrawal.
- 7/23 and 5/25 Mortgages
- Thirty-year mortgages with a one-time interest rate adjustment after 7 years or 5 years, respectively.
