Mortgages Analyzed
Mortgages Analyzed
Mortgages Analyzed
 
Joint Applicant

What is Joint Applicant?

Definition
Joint Applicant is a person who applies for a loan simultaneously with another applicant for a joint or shared loan and agrees to be jointly and severally liable on the loan.
What It Means
A joint applicant is contractually liable for the loan and shares the responsibility for making the periodic payments. A joint applicant can be an individual, trust, corporation, or any other legal entity.
Other Names
Co Applicant
Category
People

Related Terms

  • Applicant: A person or an entity that is seeking or requesting a mortgage loan.... Read More
  • Mortgage Loan: A mortgage loan is a financial transaction where the lender agrees to lend a certain sum of money to the borrower against the promise and reasonable e... Read More
  • Obligor: The borrower in a mortgage transaction.... Read More
  • Borrower: A person who obtains a certain sum of money from a lender against the promise to repay the principal money along with the interest and fees. Also know... Read More
  • Borrowing: Borrowing is the act of obtaining money or equivalent from the lender against the promise to repay the principal money along with the interest and fee... Read More
Source :www.MortgagesAnalyzed.com

Comments

comments powered by Disqus
Finance
Know all there is to know about the US Mortgage Industry. We help you to make a well informed decision.
Finance
Loan Products
Confused about the choosing right loan product for you? We help you decide the loan product that suits your needs best.
Loan Products
Documents
Here you will find all there is to know about the forms, papers & documents required for Home Loan Mortgage and much more.
Documents