Definition, Meaning & Synonyms

ninja-loan

Noun

/ˈnɪn.dʒə loʊn/

Definition

A type of loan that requires no documentation of income, assets, or employment history.

Examples

Many borrowers took out ninja loans without realizing the potential consequences.
The housing market crash was partly attributed to the prevalence of ninja loans.
He regretted his decision to take a ninja loan because it increased his financial burden.

Meaning

Ninja loans are mortgage loans that are easy to obtain because they do not require the borrower to provide proof of their ability to repay the loan, which often leads to higher risks for lenders.