The lender’s process of judging if a borrower is creditworthy and capable of making payments on a loan.
Price per unit is the cost of purchasing an apartment community based on the purchase price and the number of units. The price (or cost) per unit is calculated by dividing the purchase price by the number of units. For example, a 200-unit apartment community purchased for $12,200,000 has a price per unit of $61,000.
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