ASBA is SEBI's IPO application process for all investor categories. Investors' account remains blocked until shares are allotted. Process coexists with cheque payment method
FHA insures loans provided by FHA-approved lenders. Program originated during Great Depression to protect lenders. Requires minimum FICO score of 580 for 3.5% down payment. Houses must be owner-occupied for at least one year
A lien is a legal claim to property used as collateral for loans. Creditors can seize and sell assets if the borrower fails to repay. Liens can be voluntary or involuntary through court judgments
Conventional loans aren't backed by government agencies like FHA or VA. Minimum credit score is 620, with 740+ score offering best rates. Down payment can be as low as 3%, but higher payments may lower rates
LTV compares mortgage loan amount to property's current appraised value. Formula: Loan Amount ÷ Appraised Property Value. Higher LTV indicates higher credit risk and higher interest rates