Additional Property

Importance: 0.57

Is a company: no

Is a proper noun: no

Address of real estate that a person owns that is not being financed.

Tandem Loan — Bank,
- When one asset, usually a house, has two loans taken out on it.
Loan Application — Bank,
- A document in which a prospective borrower details his or her financial situation to qualify for a loan.
Subordinate Loan — Bank,
- A mortgage whose priority is below that of another mortgage; i.e., a second or third mortgage or a home-equity loan.
Junior Mortgage — Definition,
- A loan that is subsequent to the claims of the holder of a prior (senior) mortgage.
Second Mortgage — Definition, Important,
- A mortgage which ranks after a first mortgage in priority on a registered land title.
Second Home — Definition,
- An additionally purchased property, often a vacation or a rental property.