HELOC EXPERT GLOSSARY

Glossary: B

Browse terms beginning with B and move through the full A–Z home-equity and mortgage glossary.

Terms Starting with B

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A large payment due at the end of certain loan structures when the remaining balance has not been fully amortized.

One one-hundredth of one percentage point; 100 basis points equal 1 percentage point.

A person or entity obligated to repay a loan.

Compensation paid directly by a borrower for mortgage origination services where permitted and properly disclosed.

A limit on available credit tied to the value or eligibility of specified collateral or assets.

Compensation paid to a mortgage broker in connection with arranging a loan, subject to applicable rules.

An arrangement that reduces the effective interest rate or payment for a period, typically through an upfront payment.