Examlex
What is a data artist?
APR
The Annual Percentage Rate, which reflects the cost of borrowing on a yearly basis and includes interest and other charges.
Mortgage
A loan secured by real estate property, commonly used to purchase a home.
Prepaid Interest
Interest starts accruing (building) at the beginning of each month and continues throughout the month; prepaid interest at the closing is the amount of mortgage interest due to cover the time from the closing date to when the first mortgage payment is due.
Down Payment
The upfront money applied to a purchase that is made using a loan (credit).
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