Line Of Credit
Definition of "Line of credit"
The maximum pre-approved amount that an individual or business can borrow without preparing a new credit request. It is a safety buffer in the event funds are needed for unexpected occurrences or emergencies. Under the line of credit provision, a check may be written whenever funds are needed. Interest is charged only on the amount borrowed. Interest incurred on the first and second homes are deductible for tax purposes.
Popular Real Estate Terms
Same as term capitalization rate: Also called cap rate or income yield. A useful way to compute the rate of return on a real estate investment. It equals the net operating income (NOI) for ...
Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...
Generally, a legal notice implies a method of official notification to an individual, organization, company, or the public that a particular event is about to occur. We can call a ...
Having two families live in a residence designed for only one family. This violates single-family residence zoning. ...
History of an individual's credit financial transactions including a detailed payment analysis. The creditor history is critical for performing a credit analysis to develop a credit rating. ...
Single mortgage or other encumbrance that covers more than one piece of real estate. ...
One who receives real property under a will. ...
A charge based on the asset value of a real estate security portfolio to manage it. For an open-end mutual fond, the management charge is included in the selling cost of the security. ...
The loss of an access right to a parcel of property through another property owner's property. This could materially affect the value of the property denied access. ...
Have a question or comment?
We're here to help.