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Mortgage glossary
Whether you are buying a home or refinancing, applying for a mortgage is a big step. Use our mortgage glossary to help you through the process. Our comprehensive glossary of mortgage loan terms is even used by loan officers and real estate professionals. Bookmark our mortgage glossary as a quick mortgage definitions and vocabulary reference. |
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- Joint credit
When a couple asks for a loan based on joint credit, both their assets and incomes and both their credit reports are weighed by the lender. It can result in a higher amount being available, but puts both parties on the hook for repaying the debt.
- Joint liability
With joint credit comes joint responsibility: With joint liability, both parties to the loan must repay a debt.
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| National
mortgage rates |
| 11/21/2009 4:56:19 AM
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