loan applicant
Prospective money borrower
A loan applicant is a person or entity seeking to borrow money from a lender.
The term appears in banking, mortgage, and credit contexts: The loan applicant must provide proof of income.
Banks evaluate applicants based on creditworthiness, income, and debt levels before approving or denying the request.
- creditRecognition or payment deferral
- mortgageSecured home loan
- approvalFavorable opinion given
- debtMoney owed another
- collateralSecurity for debt
cosigner · income · proof of income · bank statement · paperwork · interest · interest rate · rejection · financial · qualify · preapproval · approval letter · credit score · down payment · closing costs · waiting · anxious · sweaty palms
- applicantscandidate, hopeful, prospect, interviewee, asylum seeker
- bank customersdepositor, account holder, borrower, new customer, loyal customer
- loan partiesborrower, lender, cosigner, creditor, debtor