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Loan
Loan A sum of borrowed money (principal) that is generally repaid with interest.
RELATED TERMS--------------------------------------
Interest
Money paid to a lender as compensation for money that is borrowed.
SIMILAR TERMS--------------------------------------
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Livery of seizin
Under common law, the process of transferring title.
Live-work space
A dwelling, such as a loft, in which the occupant both lives and conducts business.
Living trust
A trust agreement, which the title to property and assets can be transferred into, thereby avoiding probate.
Load factor
Multiplier to a tenant's useable space of a building's common area, expressed in percentages.
Load-bearing wall
Any exterior wall, and any interior wall that supports its weight and the weight of other parts of the building above it.
Loan
Loan application
A lender's initial sourse of information on a borrower-applicant and the collateral involved; stipulates the amount of money requested and repayment terms.
Loan application fee
A sum charged by a lender for accepting a document in which a prospective borrower details his or her financial situation to qualify for a loan.
Loan broker listing
A mortgage loan broker's contract with a buyer to obtain a loan.
Loan commitment
A lender's agreement to lend a specified amount of money which must be exercised within a set time limit.
Loan consolidation
When one large loan is taken out to pay off a variety of smaller loans held with different providers. A mortgage can be used for this purpose and in some cases can work out cheaper as mortgage rates tend to be cheaper than personal loan interest rates.
This dictionary contains 6433 terms. |
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