Debt Consolidation

Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. Common loans people want to consolidate are high...

Deed

The document by which title to real property is transferred or conveyed from one party to another.

Dividend Rate

Dividend Rate is the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding...

Draw Period

A Home Equity Line of Credit (HELOC) begins with a 2- or 5-year draw period, when you can access the funds in your credit line...

Federal Home Loan Bank WISH Program

Learn more about the FHLB's WISH Program offering downpayment and closing cost assistance for home buyers.

Fixed Interest Rate

A fixed interest rate loan is a loan where the interest rate doesn't fluctuate during the fixed-rate period of the loan. This allows the borrower to...

Fixed Rate Mortgage

A mortgage in which the interest rate, principal, and interest payments remain the same for the life of the loan.

Floor Rate

An interest rate floor is the minimum interest rate possible for an interest rate associated with a loan.

Grace Periods

A description of the different grace periods and lengths associated with Members 1st loans.

Index Rate

The index rate is used as a benchmark to calculate the interest rate plus a specified margin on a loan. Members 1st commonly uses the 26-Week Treasury Bill...