low-doc loan
Word Rarity
Uncommon
Frequency: Zipf frequency 4.16 in modern English
16
Scrabble Score
10
Letters
3
Syllables
7
Unique Chars
Meaning
Example Sentences
- "2006, The Bulletin, Issues 6536-6544, page 61, “You can see it here in mortgages. Low-doc loans used to carry at least 1% or more of risk premium. As everybody [piled] in, that has been driven down to half a percent. These people do not have a verifiable income, and yet you can only expect them to be charged half a percent more on the interest rate.”"
- "In a no-doc or low-doc loan, the lender doesn′t require you to bring proof of your income, but you will usually have to pay a higher interest rate or extra fees to get the loan. Lenders generally charge more for no-doc/low-doc loans."
- "This kind of “no-doc loan” and its cousin, the “low-doc loan,” became quite prevalent. By 2006, low-doc loans accounted for more than one-third of all subprime mortgage originations."
Etymology
Usage
- Australian usage
- American usage
Inflected Forms
low-doc loans (plural)
low doc loan (alternative)
Frequently Paired Words
subprime
no-doc loan