Application


Definition of "Application"

Tony Pykiet
  Coldwell Banker Gundaker

A request for a loan that includes the information about the potential borrower, the property and the requested loan that the solicited lender needs to make a decision. In a narrower sense, the application refers to a standardized application form called the '1003' which the borrower is obliged to fill out.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Mortgage Life Insurance

Insurance coverage to pay the balance of the mortgage if the wage earner dies. ...

Modified Life Insurance

Ordinary life insurance under which premiums are calculated so that the first few years of premiums ...

Underfloor Wiring System

Wires, such as for electricity, places beneath the floor of a structure. ...

Deferred Maintenance

Factor in real estate appraisal. A type of physical depreciation owing the lack of normal upkeep, s ...

Capital Appreciation

Increase in the value of property. The appreciation may arise for many possible reasons, such as inf ...

Asbestos

Fibrous, fire-proofing material that was used in buildings and homes for insulation. ...

Related Real Estate FAQ

What Will My ARM Loan Payment Be ?

RealEstateAgent.com calculator will compute your initial payments and estimate your future payments. ...

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Is A Treasury Index?

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mor ...

How Much Income Do I Need ?

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ...

What Is A Lien?

A lien is a claim against a property. ...

Do I Need Earthquake Insurance?

If you live in an Earthquake zone. Yes! Typically most homeowners insurance insurance coverage would ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How to become a real estate agent What is Escrow and how does it Work? Home Prices - The Extra Costs 7 Things to Consider Before Moving to a New City What do Real Estate Attorneys do?

FAQ

What is title insurance? What does an appraisal mean? What is an easement? What is a Buildable acre? Is depreciation common?