Credit Application


Definition of "Credit application"

Bobby Atkins
Bobby Atkins Venture Realty

Form used to record information about a credit applicant's ability to meet his obligations in connection with a real estate purchase.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Five C's Of Credit

Considerations used by lenders in appraising a prospective homebuyer' credit application. They are: Character, Capacity (cash Flow), Capital, Collater ...

Equal Credit Opportunity Act (ECOA)

U.S. law making it illegal to discriminate when giving credit based on factors such as race, religion, color, age, national origin. A lender must resp ...

Vitrified Title

Clay-baked, glazed piping that is not damage by water. It is often used in underground drainage. ...

Section 1231

Section of the Internal Revenue Code applies to assets used in a trade or business,. In general, gains on section 1231 assets are taxed at capital gai ...

Sole Proprietorship

Real estate business owned by one person having all the rights and obligations. ...

Highway Easement

The construction of a highway right way over a privately held parcel of land. Property owners are entitled to compensation for the value of the prope ...

Popular Real Estate FAQ

What Happens When A Property Starts To Depreciate?

When a property depreciates it declines in the value of the property due to poor location, dilapidation, or other factors. ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as an annual allowance that helps you recover on you ...

What Is Joint Tenancy?

A joint tenancy is an equal, undivided ownership in a property by two or more individuals. ...

What Is A Buildable Acre?

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after excluding present and future rights-of-way, restrict ...

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 Lien?

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

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

Down Payment: Everything You Wanted to Know Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate?

FAQ

What is a Good Faith Estimate? What does preapproved mean? What are comparables or comps? What does the Real Estate Settlement Procedures Act (RESPA) require? What is zoning?