Loans

 

rate = a fixed amount of money that is charged or paid for something interest rate = the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. terms = conditions retirement = the fact of leaving your job and stopping work, usually because you have reached a particular age mortgage = a legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title(=the legal right to own something) of the debtor's property, with the condition that the conveyance(=handing-over) of title becomes void(=not valid or legally binding) upon the payment of the debt commitment = a promise to do something or to behave in a particular way assets = a thing of value, especially property, that a person or company owns, which can be used or sold to pay debts income = the money that a person, a region, a country, etc. earns from work expenses = the money that you spend on something residence = the state of living in a particular place pay stub = a piece of paper that is given to an employee with each paycheck and that shows the amount of money that the employee earned and the amount that was removed for taxes, insurance costs quarterly statement = a summary or a collection of a company's financial statements, such as balance sheets and income statements, issued every three months pretax = (of income or profits) considered or calculated before the deduction of taxes gross monthly household income = your basic employment income, trade/self-employed income, overtime pay, allowances, cash awards, commissions, and bonuses standard debt ratio guideline = a typical instruction given for counting the percentage of your gross monthly income that is used to pay your monthly debt and determines your borrowing risk stretch the figure = increase an amount downturn = a decline in economic, business, or other activity. equity = the value of a company’s shares down payment = an initial payment made when something is bought on credit rebate = a partial refund to someone who has paid too much for tax, rent, or a utility