Resident Alien

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • permanent resident

Definition of Resident Alien

  1. A person who is living as a legal permanent resident, but is not a citizen of that country.

Related Terms and Acronyms

  • Verification of Employment (VOE) Acronym, Important,
    • Confirmation that a loan applicant is telling the truth about where he or she works and how much he or she makes.
  • Province of Domicile Definition,
    • The province where an individual lives or intends to live permanently or for a long term, regardless of the individual's current location.
  • Credit Rating (CR) Acronym, Very Important,
    • A judgement of a person's ability to repay debts. The rating is often based on a person's current and projected income and past debt payment history. Also called a credit score.
    A metric to measure the credit worthiness of a debtor.
  • Non-Resident Alien (NRA) Acronym,
    • A person who is not a permanent resident or a citizen of Canada, and who is generally taxed on income from Canadian resources.
  • Low-documentation Loan Definition,
    • A mortgage that requires less income or asset verification than conventional loans. Low-documentation loans are designed for the entrepreneur or self-employed, for recent immigrants, or for borrowers who cannot or choose not to reveal their financial information. A substantial down payment and excellent credit history are generally required. This type of loan will also yield a higher interest rate.
  • Social Insurance Number (SIN) Acronym, Canada, Very Important,
    • Every person who has an income or pays taxes must apply for this number, which is assigned by the Government of Canada. You must, by law, provide this number to financial institutions with which you have an interest-bearing deposit account.
    A nine-digit number that you need to work in Canada or to have access to government programs and benefits. Banks may also request your SIN for tax purposes or to verify credit checks.
  • Alien Abduction Insurance (AAI) Acronym, Cosmos,
    • Insurance that covers costs resulting from alien abductions.
    An extra-terrestrial abduction policy.
  • Document Needs List Definition,
    • An inventory of papers a lender needs to underwrite a loan, usually including pay-cheque stubs, bank statements and tax returns.
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