Lending and Underwriting

Lender view of whether the borrower can realistically carry the requested credit payment load.

Borrower-risk and affordability terms used when Canadian lenders review a credit application.

A borrower profile is the overall picture a lender forms from the borrower's credit file, application details, and repayment capacity.

A co-signer is a person who agrees to share responsibility for a credit obligation with the primary borrower.

Conditional approval means the lender is willing to approve the request if stated follow-up conditions are satisfied.

A counteroffer means the lender did not accept the original request as submitted but is willing to offer different terms or a smaller amount.

Formal request for credit that can trigger bureau review, verification, and a real underwriting decision.

Overall lending judgment built from credit history, affordability, recent activity, and broader borrower risk.

Affordability measure comparing debt obligations with income during consumer-credit underwriting.

Notice telling the borrower that a credit request was not approved and sometimes why.

Confirmation of job status or employer details used during underwriting and income review.

A guarantor is a person who promises to support repayment if the borrower fails to meet the obligation.

Confirmation of stated income used to assess affordability and repayment capacity during underwriting.

Instant approval means the lender's system produced a quick approval decision without sending the application into a longer review path.

Manual review means a lender employee or underwriter is looking at the application more closely instead of relying only on automation.

Stronger early lending signal than prequalification, but still short of final approval.

Early estimate of borrowing fit based on limited information before full underwriting.

Application under review means the lender has not finished the decision and is still assessing the submitted request.

Lender review process that turns an application, file, and income details into an approval decision.