Across
- 3. The original amount borrowed in a loan aside from interest.
- 5. A type of loan secured by a person's own funds. Great for rebuilding credit.
- 6. Type of loan that is used to purchase a truck or car.
- 8. A revolving line of credit that utilizes a homeowner's property equity as collateral.
- 9. A percentage metric comparing an individual's monthly debt payments to their gross monthly income.
- 10. An asset (like a house or car) that a borrower pledges to secure a loan, which is not required for a standard personal loan.
Down
- 1. A type of loan that does not require any collateral and relies solely on the borrower's creditworthiness.
- 2. A type of loan where the interest rate stays exactly the same for the entire life of the loan.
- 4. The process of spreading out loan payments over time into a fixed schedule.
- 7. A long-term loan used to finance real estate.
- 8. The restriction placed on the borrower's deposit account, locking the funds so they cannot be withdrawn until the loan is paid down.