Across
- 3. secured loans where the vehicle itself is used as a collateral
- 5. an interest rate that does not change over time.
- 6. rate Percentage of amount borrowed to be added to the amount loaned and paid back
- 8. loan loans backed by collateral that the bank can claim if the borrowers do not repay them
- 9. a person or institution that owes a sum of money.
- 11. persons or institutions to whom money is owed, lenders
- 13. money you can borrow from the U.S. Department of Education or a private organization to pay for college and repay later with interest.
- 14. A summary of a person's borrowing and repayment history
- 17. asset accepted as security for a loan
- 18. A person who is equally responsible for paying back debt under the credit terms
- 19. An amount of money given to the borrower for a set period of time. After the set time has passed, the money must be paid back plus the lending fee, called interest. Payments are normally made over a series of months.
Down
- 1. loan a loan that doesn't require any collateral
- 2. Percentage of amount borrowed to be added to the amount loaned and paid back
- 4. A three digit, typically between 300 and 850, designed to represent your risk
- 7. a secured loan that allows you to avail funds by providing an immovable asset, such as a house or commercial property, as collateral to the lender.
- 10. an interest rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rate or index that changes periodically.
- 11. An arrangement to receive cash, goods, or services now and pay for them in the future
- 12. something, typically money, that is owed or due.
- 15. amount to pay back a loan
- 16. The amount of money borrowed
