Rates & InterestSOFR
Secured Overnight Financing Rate (SOFR)
A benchmark interest rate based on the cost of borrowing cash overnight collateralized by US Treasury securities, replacing LIBOR.
📚 Financial Knowledge Base
Financial Industry Glossary & Underwriting Guide
Master essential home mortgage, auto financing, interest rate, and underwriting terminology with interactive calculators, mathematical formulas, and practical lending guidelines.
Terms Starting With "S"
Showing 3 definitionsAuto Loans
Subprime Auto Loan
Vehicle financing extended to borrowers with low credit scores (typically below 620), featuring higher interest rates and strict terms.
MortgagesIPC
Seller Concessions (Interested Party Contributions)
Closing cost credits, prepaid escrow items, or discount points paid by the property seller or builder on behalf of the buyer, governed by strict agency LTV percentage caps.