FICO® Score

FICO® Scores are the credit scores most lenders use to determine your credit risk. You have three FICO® Scores, one for each of the three credit bureaus...

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.

Foreign Merchant Transaction Fee

Foreign merchant transaction fees are normally assessed by your debit or credit card issuer and are usually charged a percentage...

Grace Periods

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

Home Equity Line of Credit (HELOC)

A home equity line of credit (often called HELOC) is a loan in which Members 1st agrees to lend an amount of money within an agreed period (called a term)...

Home Value

Home values are calculated from sold prices, public records of assessed value, and area real estate information. While these estimates can help planning a...

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...

Inspections

An examination of property for various reasons (such as a termite inspection) to see if required repairs were made before funds are released, etc.