Personal Finance
Loan Refinancing
The process of replacing an existing debt obligation with a new loan under different interest rate, term, or equity terms.
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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 "P"
Showing 2 definitionsPersonal Finance
Home Equity
The net market value of a homeowner’s unencumbered interest in their real property, calculated as market value minus outstanding debt.