Dry Loan

Dry Loan
A mortgage where the funds are supplied after all of the required sale and loan documentation has been completed and reviewed. For the buyer and seller, dry loans provide more insurance that the transaction will be completed without problems. Conditions surrounding the requirements of dry loans differ based on state laws.

In a dry-funded mortgage, the seller will not receive any money until all necessary paperwork has been reviewed by the lending financial institution. Waiting for the documentation to be processed before any funds are transferred ensures the legitimacy of the sale. This process deters fraudulent activities in real estate transactions.


Investment dictionary. . 2012.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Dry Closing — A type of real estate closing in which the entire closing requirements are fulfilled except the disbursement of funds. In a dry closing all involved parties agree that the closing can still happen and the funds are transfered as soon as possible… …   Investment dictionary

  • Marketing loan repayment provisions — In United States agricultural policy, a marketing loan repayment provision is a loan settlement provision, first authorized by the Food Security Act of 1985 (P.L. 99 198), that allowed producers to repay nonrecourse loans at less than the… …   Wikipedia

  • Cinema of Turkey — Dry Summer won the Golden Bear at the 14th Berlin International Film Festival Turkish cinema is an important part of Turkish culture, and has flourished over the years, delivering entertainment to audiences in Turkey, expatriates across Europe,… …   Wikipedia

  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

  • Pakistan — /pak euh stan , pah keuh stahn /, n. 1. Islamic Republic of, a republic in S Asia, between India and Afghanistan: formerly part of British India; known as West Pakistan from 1947 71 to distinguish it from East Pakistan (now Bangladesh).… …   Universalium

  • china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material …   Universalium

  • China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast …   Universalium

  • ECONOMIC AFFAIRS — THE PRE MANDATE (LATE OTTOMAN) PERIOD Geography and Borders In September 1923 a new political entity was formally recognized by the international community. Palestine, or Ereẓ Israel as Jews have continued to refer to it for 2,000 years,… …   Encyclopedia of Judaism

  • India — /in dee euh/, n. 1. Hindi, Bharat. a republic in S Asia: a union comprising 25 states and 7 union territories; formerly a British colony; gained independence Aug. 15, 1947; became a republic within the Commonwealth of Nations Jan. 26, 1950.… …   Universalium

  • Liberia — Liberian, adj., n. /luy bear ee euh/, n. a republic in W Africa: founded by freed American slaves 1822. 2,602,068; ab. 43,000 sq. mi. (111,000 sq. km). Cap.: Monrovia. * * * Liberia Introduction Liberia Background: Seven years of civil strife… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”