Terms

Do you know what terms are you using?
Here are some common terms which you are using when you are talking or using credits.
A mortgage calculator is a tool that can help your to determine how much of a home mortgage you can afford based upon your income, other existing debts, and anticipated property taxes and possible HOA fees. It can be a helpful tool when evaluating your housing goals.
Free credit reports can be obtained from the major credit bureaus such as Experian or from other full-service institutions that offer other credit services and use the lure of a free credit report to draw you in.
A credit report provides details accounting of your credit history including any accounts that have delinquencies, late payments, all open and revolving credit accounts, etc. This is the basis of determining your FICO score and is used to determine your eligibility for future credit and loans.
American Express is a leading provider of credit. They made their name in the credit card business and are particularly well known for their business credit cards. They have since branched into many related business such as business lines of credit, and the Business ONE network.
Credit cards are the most common form of consumer credit today. Credit cards provide an instantly available source of credit that can be used to purchase items at just about any store. The rates on this form of short-term credit are relatively high. Credit cards are best used as intended - as short-term credit, and can work against you if you carry a long-term balance, due to the high interest rates and negative amortization.
Mortgage rates are an interchangeable term for mortgage interest rates and describe the annual percentage rate (APR) charge for the loan to buy a home or investment property. Mortgage rates are not directly tied to the overnight lending rates set by the 'Fed' but can be influenced by it. A typical mortgage interest rate will very between 5-10% APR.
Credit reports can be obtained from the major credit institutions or through full service credit agencies. These credit reports provide a detailed accounting of your recent financial past such as open credit accounts, debt owed, and any late or defaulted payments. This profile is the basis of determining future credit eligibility.
Student loans can be made available to students in order to finance the cost of higher education. Student loans are of two primary types - federal and private. Federal loans are the most common and come in either Subsidized Stafford loans or unsubsidized Stafford loans. These loans come at substantial savings to the student. If a student exceeds federal student loans available for a given academic year, private student loans may also be available.
A mortgage is a loan that is provided for the purchase of housing. A mortgage is typically available at between 5-10% annual interest rate and for a term of 15 to 30 years. Mortgage debt typically requires 20% down, though lesser down payments are frequently available during competitive lending times.