Character
This numerical "score" is the most common way lenders gauge a borrower's reputation.
What is a Credit Score?
To prove you can pay back a loan, you usually show a "stub" from this.
What is a Paycheck?
There is a "____ ________" you pay upfront when buying a car.
What is a Down Payment?
If you don't pay your car loan, the bank will do this to the car.
What is Repossess/Take it?
This "Condition" refers to the Reason you need the money, like buying a car vs. going on a shopping spree.
What is Purpose of Loan?
This "C" is basically the bank asking: "Is this person a responsible human?"
What is a Character?
If your monthly bills are higher than your ________, you have low capacity.
What is Income?
This term means the total value of everything you own minus what you owe.
What is Net Worth?
Collateral acts as a "security ________" for the bank in case you disappear.
What is a Security Deposit?
High ________ rates make it more expensive to borrow money.
What is Interest?
If you always pay your phone bill on time, you are building a good credit ________.
What is History?
A student with a part-time job has more of this "C" than a student with no job.
What is Capacity?
Lenders like to see that you have money in this type of "Account" at a bank.
What is a Savings Account?
This is the most common piece of collateral used for a mortgage.
What is a House?
Lenders look at this "S" word to see if your Job is in a field that is growing or shrinking.
What is Stability?
To check your character, a bank will look at this "Report" of your past bills.
What is a Credit Report?
This "D-T-I" ratio compares how much you owe to how much you earn.
What is Debt-to-Income?
If you have $2,500 in the bank and $700 in debt, your "Net Worth" is this amount.
What is $1,800?
This is a someone (usually a parent) who promises to pay if you can't.
What is a Co-Signer?
This "Condition" describes a time when the Economy is doing poorly and many people are losing their jobs.
What is a Recession?
This is the name for the 7-year "black mark" on your record if you can't pay any debts.
What is Bankruptcy?
Even with a high salary, if you have too many ________, your capacity is low.
What are Debts?
If you have "Skin in the game," it means you've invested your own ________.
What is Cash/Money?
True or False, equipment is often allowed to act as collateral?
What is False?
If you are starting a business, a lender will check this "Condition" to see if you have many similar businesses nearby.
What is Competition?