Across
- 3. The time period you agree to pay back the loan.
- 4. The yearly cost of a loan including interest and fees.
- 6. An asset (like a house or car) pledged to secure a loan.
- 8. Money you borrow that you must pay back, usually with interest.
- 9. Failing to repay a loan according to the agreed terms
- 10. A person who agrees to be responsible for the loan if the borrower cannot pay.
- 11. The original amount of money borrowed on a loan.
- 12. Score A numerical measure of your creditworthiness that helps determine your interest rate.
Down
- 1. The percentage charged by the lender for borrowing the money.
- 2. Loan A loan backed by collateral (something valuable the lender can take if you don’t repay).
- 5. Loan A loan without collateral; generally higher risk and higher interest.
- 7. Money you owe or financial obligations that may affect loan approval.