Real Estate Glossary Term U – St. George Utah Real Estate

Underwriting: The process of analyzing a borrower's capability to honor repayment of a loan (evaluating his or her credit, assets, employment) along with the value of the property being purchased, to help minimize the risk involved for the party lending the purchase mo

Unilateral contract: A one-sided contract in which only one party is legally under obligation by the terms of the contract; one party promises an action to the second party, who is not legally required to respond, but if the second part does comply, then the first party is ob

Unsecured loan: A loan that is not guaranteed by collateral

Usury: The act of charging more than the maximum rate of interest permitted by law