The loan application is a source of information on which the lender bases his decision to make the loan. It defines the terms of the loan contract; gives the name of the borrower, place of employment, salary, bank accounts and credit references; and describes the real estate that is to be mortgaged. It also stipulates the amount of loan being applied for, and repayment terms.
Check out other glossary terms or Send us a Message and we're happy to answer your questions!
© 2023. Reck Agri. All Rights Reserved.