Preapproval: A higher level of buyer/customer prequalification required by a mortgage lender. Some preapprovals have circumstances the debtor must meet.

Prepaid interest: Funds paid by the borrower at closing based on the amount of days left in the month of closing.

Prepayment penalty: An excellent imposed on the borrower by the…

Preapproval: A higher degree of buyer/customer prequalification required by a mortgage lender. Some preapprovals have circumstances the borrower must meet.

Prepaid interest: Funds…