Do not call it a loan. That is not a marketing preference — it is the legal characterization that produces the priority position, the transferability, and the non-recourse treatment, and loan language with a credit officer invites the wrong analysis from the wrong department and two weeks unwinding it. Twelve say-this/not-this pairs with why each matters, including the most consequential correction a broker will make: only the annual installment is senior, not the balance. A credit officer who believes the full balance primes them will decline before you finish the sentence. Includes a two-sentence answer for when a credit officer asks what this is and you have one chance — and the instruction to stop talking afterward, because the next question tells you which substantive answer to give.
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