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The Loan Process	Tips and Tricks	FAQs	Glossary

Glossary




		Underwriting The decision whether to make a loan to a potential home buyer based on credit, income, employment history, assets, etc.

		Undivided Interest An ownership right to use and possess a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property.

		Unincumbered Property Real estate with free and clear title.

		Unimproved Property Land that has received no development.

		Unrecorded Deed A document that transfers title from the grantor to the grantee without recording (i.e. providing public notice).

		Usury Charging a rate of interest greater than that permitted by law.