The mortgage industry has many unique and confusing terms and acronyms. We hope these descriptions help you to better understand the lending process.
Team Souther Glossary
There are 2 names in this directory beginning with the letter I.
The rate that determines how much a lender charges a borrower in exchange for lending money. Interest rates are expressed as percentages of the total loan. Interest rates can vary widely depending on market conditions, size of the loan and a borrower's credit score.