Purchase loan

(redirected from Purchase Loans)

Purchase loan

A consumer loan taken to finance a purchase.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
ENPNewswire-September 2, 2019--ABA-2018 HMDA Data Show Slight Increase in Home Purchase Loans
BANKING AND CREDIT NEWS-August 16, 2019--Access Bank to offer smartphone purchase loans
M2 EQUITYBITES-August 16, 2019--Access Bank to offer smartphone purchase loans
Global Banking News-August 16, 2019--Access Bank to offer smartphone purchase loans
THE AVERAGE value of property purchase loans ticked up last month.
Even with rising mortgage rates, purchase loans still accounted for 88 percent of closed loans to Millennial borrowers in October, four percentage points higher than a year ago.
August's best offers for borrowers with the best profiles (the 95th percentile of borrowers) had an average APR of 4.32% for conforming 30-year fixed purchase loans, up from 4.31% in July.
Veterans United Home Loans reported purchase loans in the state were up 80 percent in 2018 as compared to five years earlier.
As stated there, the Government plans to subsidize rates of remuneration of agricultural equipment rental purchase loans, the press release runs.
Yesterday, the Malaysian Automotive Association (MAA) issued a statement claiming local carmakers Perusahaan Otomobil Kedua Sdn Bhd (Perodua) and Proton Holdings Bhd, would be hit the most by the continued enforcement of strict lending guidelines including for hire purchase loans.
Bhutta and Ringo focus mainly on the increase in the number of home purchase loans induced by the premium cut.