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

Assessment District

Any geographic taxing division where the legally chosen representatives are charged with the respons ...

Decedent

One who has died with a valid will in effect. ...

Loft

Space just below the roof of a house, barn, or other structure. Upper story of a factory or war ...

Net Income

Also called net profit. Rental revenue less total expenses. The bottom line is the key indicator to ...

Hail Insurance

Coverage against hail damage to crops. Coverage is on a proportionate basis; that is, in the event o ...

Subordinate Financing

A second mortgage on a property that is not paid off when the first mortgage is refinanced. The sec ...

Related Real Estate FAQ

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership includin ...

What Are My Coverage Options?

Our agents have a wide range of coverages available, as well as an array of choices for limits and d ...

What Is An Inspection?

An inspection is a close and thorough examination of a house and property. A licensed individual usu ...

What Is A APR Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

What Is A Lease Purchase Mortgage?

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property ...

What Is PITI And What Does It Stand For?

PITI is the total monthly payment you make on a house-Principal, Interest, Taxes, and Insurance. ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

Should you Buy a Home with Cash? 10 Tips for Homebuyers How Does The Home Loan Underwriting Process Work? Build or Buy? That’s the Big Question Rent or Buy - the pros and cons

FAQ

What is a REALTOR®? What is a mortgage banker? Do I need flood Insurance? What is a loan origination fee? Why do people refinance?