Net Cash Flow
Cash remaining after specified operating expenses and debt obligations are deducted from income.
HELOC EXPERT GLOSSARY
Glossary: N
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N
Terms Starting with N
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Net Cash Proceeds
Cash remaining to the borrower after applicable payoffs, financed amounts, fees and closing adjustments.
Net Operating Income (NOI)
Property income after specified operating expenses but before debt service, depreciation and certain other items, depending on the calculation.
Non-Occupant Co-Borrower
A co-borrower who does not occupy the secured property as a principal residence.
Non-Owner Occupied
Property not occupied by the borrower as the borrower’s primary residence.
Note
The promissory document stating the borrower’s repayment obligation.
Notice of Right to Cancel
A disclosure describing a consumer's rescission rights for certain credit transactions secured by a principal dwelling.