A FICO score, more commonly known as a credit score, is a three-digit number that is used to assess how likely a person is to repay the credit.| Corporate Finance Institute
A mortgage is a type of loan secured by real property. There are residential and commercial mortgages, with risk characteristics that are unique to each.| Corporate Finance Institute
A principal payment is a payment toward the original amount of a loan. A principal payment is one made on a loan that reduces the remaining loan amount due.| Corporate Finance Institute
Looking to boost your finance career resources? CFI offers in-depth guides and tips to elevate your profession. ✓ Unlock success with us today.| Corporate Finance Institute
An interest rate refers to the amount charged by a lender to a borrower for any form of debt given, generally expressed as a percentage of the principal.| Corporate Finance Institute