APR
Annual Percentage Rate — the yearly cost of borrowing, expressed as a percentage that includes interest plus most fees.
ACH
Automated Clearing House — the network used to electronically move funds between US bank accounts.
Direct Deposit
An electronic transfer of funds straight into your bank account, typically faster than a paper check.
Installment Loan
A loan repaid through a fixed number of regular payments — often monthly — over a set term.
Loan Agreement
The signed contract between you and the lender that lays out the loan amount, rate, term, fees, and repayment schedule.
Soft Inquiry
A credit check that doesn’t affect your credit score, used for pre-qualification or matching.
Hard Inquiry
A credit check that may impact your credit score, often used by lenders during final approval.
Truth in Lending Act
A US federal law requiring lenders to disclose the full cost of a loan in clear, comparable terms.
