Low-documentation Loan at Real Estate Glossary

What is it? A mortgage that requires only minimal verification of income and assets.

Real Estate Definition Added By: Charlie

Send To Friends!

If you'd like to send the Low-documentation Loan definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Low-documentation Loan. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Real Estate Terms:

Real Estate Term Illusory Contract is An apparent contract that is not a contract because the parties have not agreed to be bound.

Real Estate Term Prequalify is Determine the maximum loan amount a prospective buyer qualifies for prior to showing them properties. Failing to prequalify may result in wasted efforts showing the prospect properties they cannot afford to purchase. (See back-end qualification, front-end

Real Estate Term Hypothecate is To pledge real or personal property as security for a loan or other obligation without surrendering possession of the property. The borrower retains the rights of control and possession, and the lender secures an underlying equitable right in the pledged

Real Estate Term Conservator is A guardian, protector, preserver or receiver appointed by a court to administer the person and property of another (usually an incapable adult) and to ensure that the property will be properly managed. A conservator may not need a real estate license to s

Real Estate Term Secret Profit is Refers to a broker making an undisclosed profit at the sellers expense; for example, when the broker has an undisclosed relative buy the listed property and then resell it to a buyer whose earlier offer was never presented to the seller.