Loan definition: A loan is a sum of money that you borrow . | Meaning, pronunciation, translations and examples.
Sec. 47-202. Definitions. In the declaration and bylaws, unless specifically provided otherwise or the context otherwise requires, and in this chapter:
Listed below are the definitions of some basic loan terms that will help you to understand the loan summaries that are provided in this section. Capitalization.
An FHA 203(k) loan is a type of government-insured mortgage that allows the borrower to take out one loan for two purposes – home purchase and home renovation. An FHA 203(k) loan is wrapped around.
Need help understanding mortgage loan originators? Please use our definitions on this page as a helpful resource for you.
1321.01 Small loan definitions. (A) As used in sections 1321.01 to 1321.19 of the Revised Code: (1) "Person" includes individuals, partnerships, associations, trusts, corporations, and all other legal entities.
Learning Center Glossary This glossary is provided as an educational tool for the Seller/Servicers to use. In the event there is a conflict between terms defined in this glossary and identical or substantially similar terms defined in the glossaries to the freddie mac single-family guide, Freddie Mac Multifamily Seller/Servicer Guide or Freddie mac loan selling advisor ® User Guides, the.
Definition of loan: Written or oral agreement for a temporary transfer of a property (usually cash) from its owner (the lender) to a borrower who promises to return.
The exact amount of the loan and interest rate varies depending on your income, debt, credit history, and a few other factors. There are many different types of loans you can borrow. Knowing your loan options will help you make better decisions about the type of loan you need to meet your goals.
A loan may be guaranteed by collateral, meaning that the lender either keeps an asset belonging to the borrower until the loan is repaid or has the right to seize such an asset in the event of default. Often, loans are obtained to purchase a major asset, such as a house. These loans are generally guaranteed by the asset they are used to buy.