![]() ![]() However, it can be segmented by day of the week, time, geography, and portions of the population. MORE ABOUT CARRIAGE: Carriage figures will grow as the queried length of time grows. This is especially true for standalone programs, limited series or non-prime time programming. Data are first reported for four weeks into the future and updated daily as time moves closer to date of broadcast.įORMULA: The number of different stations airing a program across a specified time period. There are between 349 and 379 PTV analog stations depending on the definition of “station.”ĮXAMPLE: Two hundred stations are carrying a program across a specified week. ![]() Revolving Credit: A line of credit that allows the borrower to withdraw funds multiple times up to a certain dollar amount, repay those funds, and then start the cycle over again.In a month, a carriage query shows the number of stations that carried the program increased to 226.ĭEFINITION: The percentage of U.S. Refinancing: To finance something again, typically changing a loan’s terms and interest rate. Principal : The actual amount of a loan, not including interest. It is largely based on the federal funds rate. ![]() Prime Rate: A benchmark or guideline interest rate the bank establishes from time to time and uses in calculating an appropriate rate for a particular loan. The Bank of Washington’s P2P payments system is called Pay People. Recipients will receive an email or text message with instructions to provide their personal and bank information in order to collect funds. Person to Person (P2P) Payments: Allows customers to send money to other people from their Digital Banking with just an email address or mobile number. Individual Retirement Account (IRA): An account into which a customer can make a deposit and earn interest for retirement, and the deposits are not taxed until withdrawn. ![]() Interest Rate: The amount charged by a lender to borrow funds, paid for over time, typically noted on an annual basis, known as the Annual Percentage Rate (APR). This is frequently set up as a home equity line of credit (HELOC), against which the borrower can draw at any time. Home Equity Loan: A type of real estate credit in which the homeowner borrows against the value of his or her residence through a second mortgage. The buyer would put their funds in escrow pending the inspection, and the seller then has confidence that the buyer has sufficient funds for the purchase. Or, for example, if someone agrees to sell their home pending an inspection, the buyer and seller may use escrow. It is best known in the context of real estate, specifically in mortgages where the mortgage company establishes an escrow account to pay property tax and insurance during the term of the mortgage. This amount is typically based on a percentage of the full purchase price of the good/service, and is not financed through the loan.Įscrow: Generally refers to money held by a third-party on behalf of transacting parties. For example, an employer could direct deposit a paycheck into their employee’s checking account.ĭown Payment: The amount of money that customers are expected to pay up-front when financing a good/service. The co-signer is jointly responsible for the repayment of the loan.ĭirect Deposit: The electronic transfer of funds directly into a customer’s account. Our lenders will advise you on what funds, if any, will be needed at a closing.Ĭollateral: Specific property pledged by a borrower to secure a loan.Ĭo-signer: An individual who signs a note to guarantee a loan made to another party. The APR results from an equation that considers the amount financed, the fees and the length of the loan.Īppraisal: A professional evaluation of the market value of an asset (example: a home) by an independent expert.Īvailable Balance: The portion of an account balance on which the Bank of Washington has placed no restriction, making it available for immediate withdrawal.Ĭlosing: When discussing buying homes, this is when the deal is sealed! This is the meeting where the property and funds legally change hands.Ĭlosing Costs: The expenses buyers/sellers incur to complete a real estate transaction. If something isn’t clear, please ask us! In the meantime, we have compiled a list of some of the most commonly used terms and their definitions.Īmortization: The gradual reduction of a loan, or other obligation, by making periodic payments of principal and interest.Īnnual Percentage Rate (APR): The true cost of credit on a yearly basis expressed as a percentage. Translating financial lingo can sometimes be a burden! We want to ensure that all of our customers have a clear understanding of everything we discuss. ![]()
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