If an Applicant Is Purchasing a Home as A(n)____________________, the Lender

question 73

Short Answer

If an applicant is purchasing a home as a(n)____________________, the lender will be more cautious because, during periods of high vacancy, the property may not generate enough income.

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Definitions:

Direct Labour

The labor costs of employees who are directly involved in the manufacturing or production process of goods.

Inventories

Assets held for sale in the ordinary course of business, or goods that will be used or consumed in the production of goods to be sold.

Trade Discounts

Discounts from the list price of a product given by a seller to a buyer, often based on the volume of purchase or early payment.

Billing System

A system used by businesses to issue invoices and manage accounts receivable.