Selfemployed Borrower

Definition of "Self-Employed Borrower"

A borrower who must use tax returns to document income rather than information provided by an employer.

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Related Real Estate Glossary terms

Managed Competition

Government-supervised health care system with economic incentives for providers and consumers. ...

Internal Revenue Code: Section 501 (c)

Portion of the federal tax code that determines which organizations are exempt from federal income t ...

Credit Scoring

Objective method of appraising an applicant's credit standing by assigning values to factors such as ...

Quick Assets

Liquid property that can be converted easily to cash. For example, a policyowner can borrow readily ...

Comprehensive Crime Endorsement

Attachment to a commercial package policy to cover counterfeit currency, depositor's forgery, employ ...

Buying Power Index (BPI)

Average of income, retail revenue, and population of a locality as a percentage of the entire United ...

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What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing ...

How Can I Figure Out My Debt-to-income Ratio?

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of ...

What Is A Second Mortgage?

A second mortgage is a type of mortgage on property that has alien already on the first mortgage. Th ...

What Is Freddie Mac?

Freddie Mac is a name for the Federal Home Loan Mortgage Corp., which is a financial corporation cha ...

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