Define: credit utilization Definition: Credit utilization is the comparison between the amount of credit available and the amount currently used.
Define: appraisal Definition: An appraisal is an estimation of a property's value.
Define: secondary residence Definition: A secondary residence is a property in which the owner(s) lives in part of the time.
Define: secure (financing) Definition: To secure financing for a property is to both successfully apply and qualify for a mortgage loan.
Define: bankrupt Definition: To be bankrupt means that one's outstanding debts are being restructured in order to pay back your creditors.
Define: mortgage Definition: A mortgage is a loan that borrowers take out in order to purchase a home.
Definition: income Income is the money received, on a regular basis, for work performed.
Definition: rent (verb) To pay someone for the use of something or occupancy of somewhere.
Definition: property tax A property tax is a levy on the value of the property by government authority.
Definition: (home) buyer A home buyer is a person who is looking to purchase a new home.
Definition: (home) seller A (home) seller is the person who puts a home on the market for sale.
Definition: property address The property address is a way to define or pinpoint where a piece of property is located.