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Purchase Loan
(redirected from Purchase Loans)

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Purchase loan
A consumer loan taken to finance a purchase.

Purchase Loan
A loan made to a borrower to finance the buying of some asset. For example, one may take out a purchase loan to buy a house, car, or some other expensive asset one could not otherwise afford. The terms of a purchase loan vary according to the lender's rules and the borrower's creditworthiness. A purchase loan differentiates from loans used to finance intangible things, such as an education or a business. See also: Credit card, Consumer good.


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The c store purchase loans are ideal for those individuals who are planning to set-up a new business or planning to expand the existing one.
Of last week's requests, 23 percent were for refinance loans, 75 percent were for purchase loans and 2 percent were for home equity loans.
We started offering purchase loans in order to survive as a mortgage lender," Domondon explained.
 
 
 
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