Borrow

Definition

  • Sand, gravel, or other material used for grading.
  • Take and use money from a person or financial institution under the promise to pay it back.

Synonyms
receive, promise to return, indebted, take on loan, temporally attain

Related Terms and Acronyms

  • Amount Financed Definition,
    • The principal that is financed. It could include the cost of the purchase and other items rolled into the payments.
  • Borrower Definition,
    • A person who borrows money or obtains a loan.
  • Covenantor Definition,
    • A person who promises to be responsible for the repayment of a loan.
  • Credit Line Definition,
    • The maximum money amount available in an open-end credit arrangement such as a credit card or overdraft protection.
  • Home Loan Definition,
    • A loan used to buy a home is referred to as a "mortgage."
  • Mortgage (mtg) Abbreviation, Important,
    • A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • Mortgage Broker (MB) Acronym, Important,
    • One who finds clients perspective lenders at generally no cost. Mortgage Brokers have a special relationship with lenders and can offer their clients the best rates and service. CanEquity goes through great lengths to ensure you are serviced by the best Mortgage Brokers in Canada.
  • Mortgagor Definition,
    • The borrower in a mortgage transaction.
  • Operating Loan Definition,
    • A loan intended for short-term financing, supplying cash flow support or to cover day-to-day operating expenses.
  • Personal Loan Definition,
    • A loan made for personal, family, or household use as opposed to a business-type loan or a long-term mortgage loan to finance real estate.
  • Spread Definition,
    • The difference between the interest rate charged to borrowers and the interest rate paid to depositors.
  • Sub-prime Borrower Definition,
    • A borrower with a less-than-perfect credit report due to late payments or a default on debt payments.
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