Definition of "Loan application"

James  Euwer real estate agent
James  Euwer, Real Estate Agent Weichert Realtors

A form completed out by a borrower specifying personal and financial data to be considered by the lender in evaluating borrower risk. The information typically includes the following: borrower's name and address, amount and type of loan, description of security, and job and financial history. An application must be completed before a mortgage loan is approved.

 

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