loan application

Definition

A document that presents a borrower's income, debt, and other obligations to determine credit worthiness, as well as some basic information on the target property.

Use loan application in a sentence

The loan application was filled out and submitted and it made us very happy to finish what we had started.

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You should always make sure that you tell the truth on any loan application because it will be checked out.

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When I wanted to buy a new car last month, I went to my bank and was required to fill out a loan application before they would give me the money I needed.

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Mentioned in these terms

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good faith estimate computerized loan origination (CLO)