Terms with Tag Credit
- Fonds Communautaire d'Emprunt de la Mauricie (FCEM) — Acronym, Quebec, Canada,
- Providing access to financing, consulting and support to individuals and businesses with limited access to conventional financial services.
➥ French acronym for Mauricie Community Loan Fund - Good Credit — Definition,
- Someone who carries little credit risk.
- Gross Debt Service (GDS) — Acronym, Very Important,
- The total monthly mortgage (or rent) payments, property taxes, utilities and maintenance fees as a percentage of gross monthly income.
➥ Used by mortgage lender underwriters to determine one's ability to qualify for a mortgage loan. - Home Equity Credit Line (HECL) — Acronym, ➥ More commonly known as Home Equity Line of Credit (HELOC).
- Home Equity Line of Credit (HELOC) — Acronym, Very Important,
- An open-ended loan, paid as revolving debt, that is backed by the equity in the property.
➥ Also known as a Home Line of Credit. - Institut Canadien du Crédit (ICC) — Company, Canada, ➥ French acronym for Credit Institute of Canada.
- Interest-Crediting Methods — Definition,
- A number of methods used to establish how interest is accrued, owed and dispersed to the parties due.
- Joint Credit — Definition,
- Credit that is issued to two people based their credit reports and their combined assets and incomes. The repayment of joint credit is the responsibility of both parties.
- Limited Income Verification (LIV) — Acronym,
- Loan Management Account (LMA) — Acronym, United States, ➥ Demand line of credit offered by Bank of America.
- Low to Moderate Income Borrower (LMIB) — Acronym,
- Merged Credit Report — Definition,
- A summary of one's credit history from the big two credit bureaus: Equifax and Trans Union.
- No Credit History — Definition,
- To have no record of an individual's credit worthiness.
- No Income No Asset (NINA) — Acronym,
- No Income Verification (NIV) — Acronym,
- Non-refundable Credit — Definition,
- Tax credits reduce your tax liability dollar-for-dollar. Non-refundable credits can get your tax bill down to zero.
- Ontario Association of Credit Counselling Services (OACCS) — Company, Grimsby, Ontario, Canada,
- Opened End Line (OEL) — Acronym,
- Repossess (REPO) — Acronym,
- Revolving Credit — Definition,
- A line of credit that does not have a specified repayment schedule but may require a minimum payment to cover interest and contribute to paying off principal. Typical of credit card loans, chequing account cash reserve or overdraft accounts that have pre-approved lines of credit.
- Secured Credit Card — Definition,
- A credit card that a cardholder secures with a savings deposit to ensure payment of the outstanding balance if the cardholder defaults on payments. It is used by people new to credit, or people trying to rebuild their poor credit ratings.
- Self Employed (S/E) — Acronym,
- Société du Crédit Agricole du Canada (SCA) — Company, Canada, ➥ French acronym for Farm Credit Canada.
- Total Debt Service (TDS) — Acronym, Important,
- The ratio of a borrower's total monthly debt payments to his or her monthly gross income. Lenders use this ratio to determine how much of a loan a borrower is qualified for.
- Total Loan to Value (TLTV) — Acronym,
- Verbal Verification of Employment (VVOE) — Acronym,
- Verification of Deposit (VOD) — Acronym,
- Verification of Employment (VOE) — Acronym, Important,
- Confirmation that a loan applicant is telling the truth about where he or she works and how much he or she makes.
- Verification of Loan (VOL) — Acronym, ➥ A document signed by a lender or creditor verifying that a loan was approved.
- Verification of Mortgage (VOM) — Acronym,
2.
Fonds Communautaire d'Empru... -
Gross Debt Service
Gross Debt Service
