Additional security fee
The mortgage definition for Additional security fee:
An up-front, one-off fee paid to the lender to protect against the borrower defaulting on the loan. This is usually charged on mortgages of more than 75% of the property value. Also known as Indemnity Guarantee Premium and Mortgage Indemnity Premium.
Additional principal paymentAdditional principal payment
Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan.
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