Bear Island Land Co., Inc.

~Your Recreational Real Estate Professionals~

Dictionary of Terms

~U~

 

Underwriting
The decision whether to make a loan to a potential homebuyer based on credit, employment, assets, and other factors and the matching of this risk to an appropriate rate and term or loan amount.
Usury
Charging more than the legal rate of interest for the use of money.

 

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Ely, Minnesota's most experienced Realtors, serving Buyers and Sellers in the Ely, MN area since 1995.