Amortization Paying off a loan in equal installments that are mostly interest at the start and mostly graphics card at the end. The crossover is year twenty-two. See a schedule
Adjustable-rate mortgage ARM A rate that changes over time. Ours tracks the temperature of your power connector in degrees Celsius, so please push the plug all the way in.
Balloon payment The whole balance, due in one go at the end. Featured on our Diamond Hands plan for borrowers who believe the card will be worth $9,000 again.
Closing costs Fees you pay to finish the loan, on top of the down payment. Ours come to 41% of what you borrowed. Fee by fee
Conforming loan Conforming instance An instance of 40 players or fewer, within our lending limits. Qualifies for our best rates.
Debt-to-income ratio Debt-to-Inference ratio Monthly debt payments divided by how many AI-generated frames you get per real one. With frame generation on, everyone qualifies.
Discount points A fee paid up front to lower your interest rate. Not to be confused with "frame-rate points", which are what you lose by enabling ray tracing.
Equity The share of the card you actually own. After five years of payments, it's roughly the left fan.
Escrow Money we collect each month and hold for your bills. Here, that's electricity and thermal paste. We'd collect for the fire department too if they let us. See a statement
Jumbo loan Jumbo instance An instance above the conforming limit: 80 players, or 100 and up on Basis. A higher rate, a larger down payment, more friends.
Loan-to-Avatar ratio What you owe, divided by the number of friends you can render. A standard loan at a full 80-player instance is $90 a friend.
Loan-to-value ratio Loan-to-VRAM ratio What you owe, divided by gigabytes of memory. A standard loan with 20% down is $225 per GB. Anything above that requires Private Melting Insurance.
Private mortgage insurance Private Melting Insurance Required if you put less than 20% down. It doesn't protect you. It protects us, from your 12V-2x6 connector.
Private Mirror Insurance Required for any borrower who spends more than an hour a night in front of a mirror, which renders everyone twice. Not to be confused with Private Melting Insurance, which you may also need.
Pre-approval A lender's promise to lend you money, made before there's anything to buy with it. For a 5090, that's the permanent state of affairs. Get pre-approved
Refinance Replacing your loan with a new one. Usually done when the next card comes out, so you can owe money on two generations at once.
Reverse mortgage A loan for owners of older cards that pays them against the card's value. The card's value is the problem. Unlock your equity
Underwater Owing more than the card is worth. Different from "water-cooled", although with a bad custom loop you can be both.