Sentences with phrase «actually qualifying borrowers»

In other words, lenders will now be obliged to do what they should have been doing all along, i.e. actually qualifying borrowers before selling them a mortgage.

Not exact matches

But only a small percentage of borrowers will actually qualify for those advertised rates.

So technically, they are still providing private educational loans but the chances of a borrower actually being qualified for the loan is very slim.

At even 1 % higher interest rates, borrowers will actually qualify for less.

That means borrowers must be able to qualify for their mortgage using a higher interest rate than they will actually be paying on their mortgage.

But only a small percentage of borrowers will actually qualify for those advertised rates.

A qualified mortgage is one that is free from terms that can prove risky to borrowers, like loans that span more than 30 years or payment structures that allow the borrower to pay less interest than is actually owed (which causes the loan to be more expensive over the long run).

While the cosigner can't improve the credit score that's looked at to price or qualify for the loan, the cosigner's income will be added to the borrower's income in deciding the size of the loan in which they'll actually qualify.

Actually, most borrowers qualify for student loan forgiveness through one of these «secret» ways.

The quarterly Federal Reserve survey of senior loan officers released Aug. 3 found that a significant number of lenders say their bank has actually made it somewhat harder for subprime borrowers to qualify for a loan.

Often times realtors do this because they have been burned by a mortgage broker who did not properly underwrite the client and blew the deal at the last minute when the borrower did not actually qualify for the loan the mortgage broker said they would.

The guidelines — or «stress test» — issued by the Office of the Superintendent of Financial Institutions (OSFI) on October 17, 2017, will mean that lower - risk home buyers (those with more than 20 per cent down on their new home) will join higher - risk borrowers in having to qualify for a mortgage at a higher interest rate than the one at which they will actually borrow.

So the borrower actually qualified for more by putting more money down (the extra down payment was offset by the decreased reserve requirements).