The following terms were found in the Loan Glossary
beginning with the letter (L).
Please review the terms below.
Total Records Returned for (L): 4
Late charge: The penalty a borrower must pay when a payment is made after the due date.
Lien: A legal claim against a property that must be paid when the property is sold.
Lifetime cap: A provision of an ARM that limits the total increase in interest rates over the life of the loan.
Loan-to-value ratio (LTV): The relationship between the amount of a mortgage and the total value of the property.