Why are terms and conditions like interest rate, time period, guarantee, mortgage etc necessary for giving a loan? Explain with anexample for each condition.

Why are terms and conditions like interest rate, time period, guaran

1.	Why are terms and conditions like interest rate, time period, guarantee, mortgage etc necessary for giving a loan? Explain with anexample for each condition.
Answer» TION:Loan terminology glossary The terms and definitions that follow are meant to give simple, informal meaning for words and phrases you may see on our Web site that may not be FAMILIAR to you. The SPECIFIC meaning of a term or phrase will depend on where and how it is used, because the relevant documents, including signed agreements, customer disclosures, internal Program POLICY manuals and industry usage, will control meaning in a particular context. The terms and definitions that follow have no binding effect for purposes of any contracts or other transactions with us. Your CAMPUS Housing Programs Representative or the Office of Loan Programs staff will be happy to answer any specific questions you may ha