Credit Limit

Definition of "Credit limit"

Maximum credit a prospective buyer may be given. An example is the maximum mortgage a prospective home buyer may receive from the bank.

Search Real Estate Glossary

Related Real Estate Glossary terms

Proprietary Insurer

For-profit insurance company, such as a mutual or stock company or Lloyd's of London association. Pr ...

Dedication

Property given and accepted as a grant to the public. ...

Asset Adequacy Tested Reserve

Required reserve to satisfy all life insurance policy obligations and expenses according to the appo ...

Corporation Sole

Corporation having only one person, A corporation sole is primarily used for the purposes of a nonpr ...

Buy Down

Cash payment to a lender so as to lower the interest rate on a loan a borrower must incur. The lower ...

Equity Among Policyowners

Grouping of applicants for life insurance according to expected mortality, so as to produce an under ...

Related Real Estate FAQ

What Do I Need To Know About Indemnity Insurance?

A principle of insurance which provides that when a loss occurs, the insured should be restored to t ...

Do I Need Life Insurance?

Whether you are a .boomer. an .X-er. or an .empty Nester. it is never to or too late . to think abou ...

What Is A Mortgage?

A mortgage is a legal document that pledges your property as security (like collateral) for a loan. ...

What Is Homeowners Insurance?

Homeowners insurance is an insurance policy that combines personal liability insurance and hazard in ...

What Is A Buydown?

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate be ...

What Is Joint Tenancy?

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

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

Agents join here

Add our widget on your Website

Real Estate Advice

How To Get A Loan with Bad Credit Top Five Reasons Your Home Offer was Rejected Mortgage Loan Types What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? Is it better to buy or sell a home first

FAQ

What do I need to know about Individual Health Insurance? What is the Tax Benefits of Buying a Home? What is a private Mortgage? What is a REALTOR®? How Much Income Do I Need ?