Credit

2. Person who borrow money from others, and the money borrowed is called debt, which must be repaid
6. Something you own and can use to get a loan such as cars or houses
8. A preapproved loan that a bank or financial institution lends to a borrower
12. A three digit number, typically between 300 and 850, designed to represent your credit risk
13. Loans that are secured by a specific form of collateral including assets such as property and vehicles
17. Interest rate that changes over time
18. The difference between what your property is worth and what you owe
19. A type of loan in which a fixed amount is borrowed and then paid back over a specified period

1. An overdue payment
3. Amount of time to pay back a loan
4. Also known as lenders, a person or company to whom money is owed
5. Loan that doesn't require any type of collateral
7. Money given to another party in exchange for repayment of the loan principal amount plus interest
9. A person - such as a parent, close family member or friend - who pledges to pay back the loan if you do not
10. A record of your ability to pay back your debts, whether it be credit card bills, student loans, or a mortgage
11. Percentage rate a bank or lender charges to borrow it's money
12. Asset accepted as security for a loan
14. Interest rate that stays the same for the life of a loan
15. Sum of money lent or invested on which interest is paid
16. Ability to borrow money and agreement to pay it back