General Financial Glossary - Financial Terms I - L

Interest - The amount that is charged for borrowing money over a period of time.

Late Charge - A monetary penalty that a borrower must pay when payment is made after the date it is due.

Lease Purchase Loan - The buyer leases a home with the option to buy. Each month's rent payments consists of PITI payments on the first mortgage, plus an extra amount is used for a savings account that accumulates for a downpayment.

Lien - Legal claim against a property. Once the property is sold the lien holder is then paid the amount that is owed to them.

Loan to Value Ratio LTV - Relationship between the amount of a loan and the total value of the the property.

Finance Terms A - D
Finance Terms E - H
Finance Terms M - P
Finance Terms Q - T
Finance Terms U - Z

General Financial Glossary - Financial Terms I - L

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