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Asset
an item of value which in a loan application commonly includes property, savings, shares, super, motor vehicles and general household contents
The lender will charge you a default or penalty interest rate if you fall behind on your payments. This is usually applied to the amount that is past due. In other situations, however, this fee will be applied to the total loan amount.
Learn MoreWhen considering a home loan application, lenders will typically consider your assets such as inventory, property, accounts receivable, stocks, vehicles.
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