Google
 
LendingRisk.com Mortage Industry Dictionary

Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.

Click on the first letter of the term you wish to find.
[ Lookup | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z ]

Home Improvement Loan

A refinance loan purpose type in which some or all of the borrowed funds are used to repair, remodel, renovate, rehabilitate, or otherwise improve the borrower's home. When the financing for such improvements is a first mortgage, the transaction is treated as either a Purchase or a Limited Cash-Out Refinance transaction.

See Cash-Out Refinance
See Limited Cash-Out Refinance
See Loan Purpose Type
See Mortgage Loan Purpose Type Overview
See Refinance

Suggest A Term

Return to top

Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.