"Lender credit" refers to a situation where the lender provides money to the borrower instead of the borrower paying fees or points upfront. This financial assistance can help reduce the cost of obtaining a loan, such as a mortgage or personal loan.
Sentences with «lender credit»
In addition, Guaranteed Rate's addition of lender credits greatly reduced the loan fees on several of the estimates we received. (valuepenguin.com)
In particular, it gives borrowers many different options for buying mortgage points or taking lender credits in order to balance interest rates and closing costs. (valuepenguin.com)
In third column, the borrower chooses to receive lender credits to reduce closing costs. (homebuyinginstitute.com)