Tag: loans

What is Private Mortgage Insurance Private mortgage insurance is insurance that protects a lender in the event that a borrower defaults on a conventional home...

What is a qualified retirement plan A qualified retirement plan is a type of retirement savings plan that offers certain tax advantages to encourage employees...

What is a Qualified Reservist A qualified reservist is an individual who meets the requirements to serve in the Reserve component of the United States...

What is a Qualified Mortgage Insurance Premium A qualified mortgage insurance premium (MIP) is a type of mortgage insurance that homebuyers are required to purchase...

DefinitionA variable-rate mortgage, adjustable-rate mortgage, or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an...

What is a 'Variable Interest Rate' A variable interest rate is an interest rate on a loan or security that fluctuates over...

What is 'Federal Credit Union - FCU' A credit union chartered and supervised by the National Credit Union Association (NCUA), a federal...

What is 'Federal Farm Credit System - FFCS' In the United States, a network of federally chartered financial institutions designed to provide...

What is 'Federal Direct Loan Program ' A program that provides low-interest loans to postsecondary students and their parents. The William D....

What is the 'Federal Discount Rate' The federal discount rate is the interest rate set by the Federal Reserve on loans offered...