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Beneficiary: The lender on the note secured by a deed of trust. Borrower: An eligible person as specified in an executed Certification of Eligibility, prepared by the appropriate campus representative, who will be primarily responsible for the repayment of a Program loan.

Bridge Loan: A temporary loan, usually less than 12 months, provided to a borrower when the net proceeds from a sale of a prior residence are not available for the purchase of a new home. It is intended that a bridge loan will be paid off with the net proceeds from the prior residence's sale. Close of Escrow: The meeting between the buyer, seller and lender (or their agents) where the property and funds legally sign up for a personal loan hands.

Certification of Eligibility : Form signed by campus representative certifying that the applicant is eligible for Program participation and the amount of the loan allocation.

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