HOW MUCH DO YOU KNOW ABOUT GETTING A LOAN?
There comes a time when everyone wishes they learned a little more about personal finance and a little less about the Pythagorean theorem in high school. So we created Crash Course, a series of quick videos to explain financial terms in simple humanspeak. Now you can learn the financial terms and mumbo jumbo about getting a loan using the best learning tool out there—real-life analogies. These terms are vital to understanding how the borrowing process works in relation to buying a home, taking out a loan, and having good credit.
RECURRING COSTS
Buying a home can end up costing a lot more than you might have anticipated thanks to recurring costs. We’ll explain what these are using something all too familiar—an unexpectedly expensive brunch with friends.
AMORTIZATION
Amortization is just a fancy way of saying, “paying back a loan.” But we’ll break it down using the analogy of training to run a race.
CREDIT SCORE
When it comes down to it, your credit score is a little like a dating profile. It may sound odd, but we’ll compare the two to explain how your credit score is determined.