Loan glossary
Plain-English loan terms.
Plain-English definitions of the words you meet when shopping for a personal loan, so you can compare offers and read a disclosure without getting lost.
APR (Annual Percentage Rate)The all-in yearly cost of a loan, interest plus required fees, expressed as one number you can compare across lenders.Read the full definitionDebt consolidationRolling several balances into one fixed monthly payment, usually at a lower rate than the cards you are paying off.Read the full definitionDebt-to-income (DTI) ratioThe share of your monthly income already committed to debt payments, and what lenders look for.Read the full definitionOrigination feeAn upfront charge some lenders deduct from your loan before you get it. Ours is zero.Read the full definitionSoft vs. hard credit pullThe difference between a quote that does not touch your credit score and a check that does.Read the full definition
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