Line Of Credit
Definition of "Line of credit"
The maximum pre-approved amount that an individual or business can borrow without preparing a new credit request. It is a safety buffer in the event funds are needed for unexpected occurrences or emergencies. Under the line of credit provision, a check may be written whenever funds are needed. Interest is charged only on the amount borrowed. Interest incurred on the first and second homes are deductible for tax purposes.
Popular Real Estate Terms
Suppose you wish to become a legit professional in a specific domain. In that case, you have to get a license, an official permit, or a document. A license acknowledges your studies and ...
It is intended to stimulate private investment in distressed cities and urban counties by providing federal "seed money' to attract private funds for such projects as industrial parks and ...
Large, high-volume food store where customers serve themselves by going through the aisles and selecting their groceries to be paid at the cash register on the way out. ...
What Is a Real Estate Bubble? One definition for a real estate bubble is the fast increase in prices, usually driven by investors and speculators in major urban areas. Properties are ...
Significant elevation of land. Narrow upward strip. Connection of edges between different sloping surfaces. ...
Self-employed contractor who may perform work on a structure such as residential or commercial property. ...
Any commercially fabricated and widely available product designed for household and personal use. Consumer goods are available in an open market place and are competitively priced. ...
Real estate business owned by one person having all the rights and obligations. ...
Regular rental of property between the lessee and lessor for a fee. An operating lease does not satisfy the criteria for a capital lease. An example is renting an apartment. A lessee ...
Have a question or comment?
We're here to help.