refinancers
Mortgage term changers
Refinancers are people or institutions that refinance loans—replacing existing debt with new debt, typically at different terms.
The word usually refers to homeowners who refinance mortgages to secure lower interest rates or access equity: Refinancers flooded the market when rates dropped.
It can also mean lenders who provide refinancing services.
One who loans money
- borrowerOne who takes temporarily
- underwritingRisk evaluation and acceptance
- appraisalEstimation of worth
- escrowConditional third-party deposit
closing costs · equity · amortization · fixed-rate · adjustable-rate · loan-to-value · origination fee · prepayment penalty
Numerical measure of borrower reliability
- FICOCreditworthiness rating system
- credit reportRecord of borrowing behavior
- creditworthinessAbility to repay debts
- credit bureauTracks borrowing history
Equifax · TransUnion · Experian · default · delinquency · foreclosure · bankruptcy · repayment
Combining multiple balances owed
- cash-outConvert assets to currency
- break-even pointRevenue matching total costs
Price paid for borrowing
- inflationSustained price level increase
- recessionProlonged economic decline
- market conditionsEconomic factors affecting trade
- Federal ReserveUS central banking system
housing market · economic cycle · monetary policy · housing bubble
lender
One who loans money
- borrowerOne who takes temporarily
- underwritingRisk evaluation and acceptance
- appraisalEstimation of worth
escrow · closing costs · equity · amortization · fixed-rate · adjustable-rate · loan-to-value · origination fee · prepayment penalty · rate lock
credit score
Numerical measure of borrower reliability
- FICOCreditworthiness rating system
- credit reportRecord of borrowing behavior
- creditworthinessAbility to repay debts
credit bureau · Equifax · TransUnion · Experian · default · delinquency · foreclosure · bankruptcy · repayment · collateral
debt consolidation
Combining multiple balances owed
- cash-outConvert assets to currency
- break-even pointRevenue matching total costs
interest rates
Price paid for borrowing
- inflationSustained price level increase
- recessionProlonged economic decline
- market conditionsEconomic factors affecting trade
Federal Reserve · housing market · economic cycle · monetary policy · housing bubble
refinancerslenders
Those who provide loans
mortgage lenders · creditors · banks · financiers · underwriters
- refinance loanNew loan replaces old