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Installment Payment
The regular periodic payment that a borrower contractually agrees to make to a lender.

Institutional Lender
A financial institution that invests in mortgages, stocks, bonds, etc. and carries them in its own portfolio. Savings banks, life insurance companies, commercial banks, pension funds, and savings and loan associations are some examples of institutional lenders.

Insured loan
A loan insured by FHA, or a private mortgage insurance company.

Interest
The cost paid by a borrower for the use of money borrowed.