Sentences with phrase «other borrowers use»

Other borrowers use their proceeds as a line of credit, using home equity as a strategic financial retirement tool to reserve a line of credit that grows automatically over time.

Other borrowers use their proceeds as a line of credit, using home equity as a strategic financial retirement tool to reserve a line of credit that grows automatically over time.

Not exact matches

A number of operational features were required to implement such an overnight reverse repo, or ON RRP, facility: It would need same - day settlement; 16 the operation would need to be run predictably, every day, and as late in the day as possible, to give lenders time to bargain with other counterparties using the outside option of investing with the Federal Reserve; 17 an appropriate spread below IOR would be required to ensure that the facility neither induced large changes in the structure of money markets nor lost the ability to support interest rate control; 18 and the operations would need enough unused capacity that lenders could credibly propose to leave borrowers that did not offer an adequate interest rate.19

For borrowers who are otherwise tempted to use the loan funds for other purposes, this may be helpful.

For borrowers who qualify for the lowest rates or who want to use a loan for reasons other than debt consolidation, Discover may be a better option than Payoff.

As more small - business borrowers joined the formal economy, they began using other banking services such as checking and savings accounts, mortgages and other financial products.

Nevertheless, the early experience suggests that, while the resilience of both borrowers and lenders has no doubt improved, the initial effects on credit and some other indicators we use to assess risk may fade over time.

Borrowers can use cash - out refinancing to refinance conventional, FHA or other non-VA loans to a VA mortgage.

Borrowers can make a down payment as low as 3 % of the cost of the property, and they may use funds from other sources (including gifts, cash on hand, and down payment assistance programs) to make the down payment.

The borrower's stock holdings or other investments are used as collateral against the loan.

SBA Form 159 is used when a borrower receives help from certain third parties to help complete other SBA Forms.

The collateral on a loan is the property or other business asset used as security in case the borrower doesn't fulfill the loan.

The mortgage lender uses these and other documents to verify the borrower's income, debts and assets.

Unlike past lending policies, borrowers can now use gifts from others, partnership funds and personal loans for the down payment.

On the other hand, it can be ged by the lenders on the loan made available to another person called borrower for use so that the person (borrower) can repay in a future time.

However as time goes by Amazon may realize they are missing out — at present they are talking about coming to an arrangement with Overdrive [download platform company which supplies rentals to public libraries] to make their stock available to borrowers using other devices.

Credit scores do nothing more than give a probability that a borrower will make good, based primarily on his history of paying other people back, but also considering such measures of financial stress as how many times he has asked for a loan recently and the credit lines to credit used ratio mentioned above.

A cash - out refinance replaces a borrowers» current mortgage with a larger loan and uses the home's equity to provide additional funds for other purposes, such as debt consolidation, home improvement projects, and more.

Personal loans are much easier to get than other type of loans such as mortgages, typically only using a few credit checks to qualify borrowers.

Banks know this and often use other sources to sort borrowers into one of two piles.

By refinancing the bad credit auto loan the borrower can access perhaps $ 5,000 of what has already been cleared and use it for other purposes, while the repayments can be less than the existing repayments, thereby freeing of more funds.

Other remedies a borrower might consider is to get a co-signer for the loan, which might reduce the required collateral, or to borrow using an SBA - guaranteed loan, which will not be declined solely on the basis of inadequate collateral.

As used in this paragraph, a «Covered Borrower» means any person who, at the time such person becomes obligated on a loan transaction or establishes an account for consumer credit, satisfies the requirements under any one or more of the following classifications, or is otherwise under applicable laws deemed to be a «Covered Borrower» under the Military Lending Act, 10 U.S. Code Section 987: (a) An active duty member of the Army, Navy, Marine Corps, Air Force or Coast Guard, or a person serving on active Guard and Reserve duty (a person described in this clause (a) of the definition of «Covered Borrower» is hereinafter referred to as a «Service Member»); or (b) Any of the following persons, relative to a Service Member: (1) The spouse; (2) A child under the age of 21; or (3) If dependent on the Service Member for more than one half of such person's support, any one or more of the following persons: (i) A child under the age of 23 enrolled in a full time course of study at an institution of higher learning; (ii) A child of any age incapable of self support due to a mental or physical incapacity that occurred before attaining age 23 while such person was dependent on the Service Member; (iii) Any unmarried person placed in legal custody of the Service Member who resides with such Service Member unless separated by military service or to receive institutional care or under other circumstances covered by Regulation; or (iv) A parent or parent - in - law residing in the Service Member's household.

In doing so, the borrower can take cash out of their equity to use for other purposes while preserving their first lien.

Borrowers, on the other hand, need to be careful that they are using reputable online companies with which to conduct their business and facilitate their loan applications.

Credit scores are ratings used by banks and other lenders to indicate the creditworthiness of a potential borrower.

This leaves the borrower with more money from their paychecks to use for other purposes.

A reverse mortgage is much like other mortgages in which borrowers use their home equity to pay other expenses; however, a reverse mortgage has special terms for people age 62 and older.

In general, cosigners are used to help borrowers with poor credit or other deficiencies get approved for a loan.

Another set of rules, however, apply when borrowers use the excess for other purposes.

Interest - only jumbo loans allow the jumbo loan borrower to use their capital for other investment and / or ventures

Some borrowers use their proceeds to completely pay off all credit card or other bills they may have.

The remaining 25 % of borrowers use their loan for home improvement, business funding, medical or healthcare financing or other purposes.

Use to be that if a borrower had other compensating factors such as a large reserve of liquid assets then they would approve the loan with a higher than normal debt to income ratio.

With the HECM for Purchase reverse mortgage, the borrower provides a down payment using the sale of the previous home or other savings.

For borrowers who qualify for the lowest rates or who want to use a loan for reasons other than debt consolidation, Discover may be a better option than Payoff.

A cash - out refinance replaces a borrowers» current mortgage with a larger loan and uses the home's equity to provide additional funds for other purposes.

If a borrower needs the bulk of their reverse mortgage payment immediately, they can receive it as a lump sum payment.6 A lump sum is recommended if the borrower has an immediate need to use a large amount of money to pay down existing debts, make renovations to the home, pay for healthcare expenses, or for any other reason.

Lots of tenant loan borrowers use their tenant loans to buy furniture, appliances, or even cars; others might use their tenant loans for paying for education or other expenses.

Many borrowers use their home improvement loans to add additional rooms or bathrooms to their home, build or renovate their garage, put in a swimming pool, and many other projects.

Borrowers who accept them can end up having to forfeit application fees or other monies to the lenders they planned on using.

Structure: The funds may be used to fund up to 100 % of the Borrower's cash requirement to close, including the down payment, closing costs, pre-paid items and other related mortgage loan fees and expenses.

PenFed allows borrowers to structure ARMs using 10/1, 3/1, 5/5 and 15/15 terms, which are adjustable - rate structures that we rarely see offered by other providers.

Due to these details, fixed rate reverse mortgages are usually best for borrowers who plan to use their reverse mortgage funds all at once, such as to pay off an existing mortgage or other debt, or to make major home repairs or modifications.

In this way, borrowers may use it to add to their existing fixed income every month, to supplement their other retirement accounts, or as a stand by account so money is readily available in the case of an emergency.

When you browse through the different accounts, loans and credit cards offered by a bank or credit union, you will find that APR is used to describe loans, credit cards and other products which involve the customer as a borrower, while APY is commonly attached to those in which the customer is earning interest as a lender.

All other borrowers applying for borrower defense MUST submit their application using one of the U.S. Department of Education (ED) borrower defense application forms provided in the sections below.

You can use all of one borrower's entitlement and save the other for future use.

Other borrowers like the idea of using the home as a rental property — while you can't purchase a home with this as your intent, it's possible to buy with a VA loan, live in the property for a while and then rent it out to others upon relocating.

Debt consolidation loans: These are loans given by banks, which the borrower uses to pay off all other debts.