Note (original note)

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Note (original note)

Note (original note)

A document signed by the borrower of a loan and stating the loan amount, the interest rate, the time and method of repayment and the obligation to repay.

RELATED TERMS
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Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.

Loan
A sum of borrowed money (principal) that is generally repaid with interest.

Interest
Money paid to a lender as compensation for money that is borrowed.

Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.

SIMILAR TERMS
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Note
A written instrument acknowledging a debt and promising payment

Note rate
The interest rate stated on a mortgage note.

PREVIOUS AND NEXT TERMS
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Non-recurring closing costs
One-time fees paid at a real-estate settlement, including origination, appraisal, points, title insurance and credit report.

Non-resident alien
A person who is not a permanent resident or a citizen of the United States, and who is generally taxed on income from U.S. sources.

Non-status mortgage
For lenders without the borrower offering any proof of income and without a previous mortgage history.

Notary Public
A public officer who is authorized to witness and verify certain documents (e.g., contracts, deeds, mortgages).

Note
A written instrument acknowledging a debt and promising payment

Note (original note)

Note rate
The interest rate stated on a mortgage note.

Notice of cessation
A notice that gives subcontractors 30 days and gives prime contractors 60 days to file liens from the date of cessation of work.

Notice of completion
A document recorded to give constructive notice that a building job has been completed.

Notice of default
A formal written notice to a borrower that a default has occurred and that legal action may be taken.

Notice of deliquency
In junior financing, where the borrower gives the senior lender permission to notify the junior lender in the event of a default.

This dictionary contains 6433 terms.

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