| Personal Loan | An amount of money borrowed from a bank or other lender by an individual. |
| Phase I | An evaluation and report prepared by a professional consultant who reviews a property - both land and improvements - to ascertain the presence or potential presence of environmental hazards at the property. This Environmental Site Assessment (ESA) provides a review and makes a recommendation as to whether further investigation is warranted (a Phase II Environmental Site Assessment). |
| Points | A point equals 1 percent of a mortgage or other loan. Some lenders charge "origination points" to cover expenses of making a loan |
| Prime Rate | An artificial rate set by commercial bankers. Many banks will use the Wall Street Prime rate. This is a rate set by the top lending banks in the country. |
