Glossary of Terms - N
To better understand some of the industry terms and technical language used during the process of borrowing money for real estate purchases, search our glossary index. You will be talking the talk with one of our mortgage professionals in no time! If you still have questions, contact us.
A loan in which the outstanding principal balance goes up instead of down because the monthly payments are not large enough to cover the full amount of interest due. Also called deferred interest.