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Glossary of Terms > S > Smart Loans

Smart Loans

A less-common for option mortgages. The buyer can choose from four payment options each month: -- Paying interest only -- Making a fully-amortizing payment based on what would amount to a 15-year loan -- Making a fully amortizing payment on a 30-year loan -- Deferring the interest and making a "minimum payment" of a pre-determined amount

S Terms

Scenario Analysis

Scheduled Mortgage Payment

Second Mortgage

Secondary Market

Secured Loan

Seller Financing

Servicing

Settlement Costs

Shared Appreciation Mortgage

Short Sale

Single-Family Home

Smart Loans

Stated Assets

Stated Income

Subprime Lending

Survey