Package Loan: A real estate loan used to finance the purchase of both real property and personal property, such as in the purchase of a new home that includes carpeting, window coverings and major appliances.

 

Related Words

Package Loan: A real estate loan used to finance the purchase of both real property and personal property, such as in the purchase of a new home that includes carpeting, window coverings and major appliances.

Parallel Loan: A process whereby two companies in different countries borrow each other's currency for a specific period of time, and repay the other's currency at an agreed maturity for the purpose of red . . . View Full Definition

Participation Loan: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender.

Personal Loan: Loans available from banks and other financial institutions to private individuals for personal use such as the purchase of a motor vehicle, holiday or similar item are personal loans. Repay . . . View Full Definition

Packager: Entity that puts together the tour product.

Package Mortgage: A mortgage on a house and property in the house.

Open-End Loan: A loan that permits the borrower to draw money from time to time up to a credit limit. A home equity line of credit (HELOC) is an open-end loan secured by a home.

Package: Tickets or services bundled together and sold at single all-inclusive price.

Piggyback Loans: A loan divided into two parts with one lender taking a secondary security position.

Package Tour: A tour that includes pre-paid transportation, accommodations and/or some combination of other tour elements, such as meals, transfers, sightseeing or car rental. A package tour may include m . . . View Full Definition