Sentences with phrase «as the borrower lives»

Cash payouts can be received in a lump sum, as a line of credit, or in installments for as long as the borrower lives in the house.

Unlike ordinary home equity loans, a HUD reverse mortgage does not require repayment as long as the borrower lives in the home.

Borrowers may choose one of five payment options: (1) term, which gives the borrower monthly payments for a fixed period selected by the borrower; (2) tenure, which gives the borrower a monthly payment from the lender for as long as the borrower lives and continues to occupy the home as a principal residence; (3) modified tenure, which combines the tenure option with a line of credit; (4) line of credit, which allows the borrower to make withdrawals up to a maximum amount, at times and in amounts of the borrower's choosing; and (5) modified term, which combines the term option with a line of credit.

As long as a borrower lives in his or her home, HUD does not require repayment of the money borrowed through a reverse mortgage.

As long as the borrower lives in and maintains the home, there is never any repayment obligation.

Not exact matches

The traditional car - buying process encourages overspending, because dealers and lenders know borrowers will make the payments even as the rest of their financial lives suffer.

As student debt becomes more and more common, it is critical that borrowers understand how much student loan interest rates can affect the total payment over the life of a loan.

Government - backed FHA mortgages, which have a 3.5 % minimum down payment, can be a more affordable option for those seeking a smaller up - front cost — though, as mentioned above, all FHA borrowers must pay monthly insurance costs for the life of the loan.

For a home to be eligible for a HECM reverse mortgage, the borrower must live in it as their primary residence.

Maybe commissions should be paid out over the life of the mortgage, so if the borrowers default, the commisson evaporates as well.

Borrower «A» (who used a 30 - year mortgage loan) ended up paying nearly three times as much in total interest over the life of the loan.

So it's important for borrowers, especially recent grads, to think about the best places to live — the cities in which they're not only likely to find a well - paying job, but also where rents and other living expenses aren't so exorbitant so as to add to their pile of debt.

Borrowers are required to live in a rural area, as defined by the USDA.

Borrowers can combine income with other occupants (such as roommates or family members) or non-occupants (such as a parent or other family member who will not live in the home) in order to qualify for the loan.

The average monthly student loan payment for borrowers aged 20 to 30 years is $ 351, which is enough to keep many of them from being able to afford the common trappings of post-graduate life, such as homeownership.

This creature ends up actually being a little person, a 14 year old girl named Arriety (Bridgit Mendler) who lives with her two parents (Will Arnett and Amy Poehler) who are borrowers who are small people who «Borrow things such as soap, cookies, and other small things that humans don't need when they disappear.

The story tells the tale of a family of four - inch - tall people, called Borrowers, who live hidden about the humans or beans as they are called in the film.

Research on student loan debt shows that, as loans climb higher, they weigh on borrowers» most intimate and personal life decisions.

Duncan said the bill would allow 25 million student loan borrowers to refinance outstanding student loans at lower interest rates and save the typical student as much as $ 2,000 over the life of their loan.

Addressing these concerns will require OverDrive and our library partners to cooperate to honor geographic and territorial rights for digital book lending, as well as to review and audit policies regarding an eBook borrower's relationship to the library (i.e. customer lives, works, attends school in service area, etc.).

I'd not previously realized this more nasty aspect of the publishers» attack on public libraries, requiring «OverDrive and our library partners to cooperate to honor geographic and territorial rights for digital book lending, as well as to review and audit policies regarding an eBook borrower's relationship to the library (i.e. customer lives, works, attends school in service area, etc.).»

1 Borrowers must still live in the home as their primary residence, continue to pay required property taxes, homeowners insurance, and maintain the home according to FHA requirements.

So, if you put down less than 10 percent, as most FHA borrowers do, you must pay MIP for the entire life of the loan.

As seen in the table below, which compares a traditional loan to one with a 10 year interest - only period, interest - only loans can actually end up costing a borrower thousands more over the life of the loan.

The FHA reverse mortgage has many compared to traditional home equity loans: no payment is necessary until the borrowers no longer use their home as the primary dwelling, for example, if the home is converted into a rental property or if the borrowers move into an assisted living community.

Drawbacks: Borrowers living outside Region's 15 states of influence will have difficulty obtaining a credit line, as line of credit applications require a branch visit.

For a home to be eligible for a HECM reverse mortgage, the borrower must live in it as their primary residence.

It also serves as life line for borrowers that would have ordinarily be disqualified for personal loans as a result of their poor credit score.

As of July 2016, borrowers living in the following states are excluded from the BorrowersFirst application process:

To be eligible, borrowers must be at least 62 years old and live in their home as a primary residence.

One way is as a lump sum payment.3 The pitfall associated with this payment method is that the funds could run out quickly, leaving the borrower unable to cover their costs of living.

Uniform disclosures of a variety loan terms, such as APR, interest rates, fees, estimated monthly payments, total payments over the life of the loan, borrower benefits, the term of the loan, etc..

You must continue to live in your home and are financially responsible for it Reverse mortgages require the borrower (s) to live in the home as their primary residence, continue to pay for homeowners insurance and property taxes, and maintain the house in accordance with FHA guidelines.

A lawsuit loan is a personal loan that can help a borrower fund his or her legal case or help him or her pay for living expenses as their lawsuit settles.

Borrowers can use money from a bad credit mortgage to pay for living expenses, tuition or home renovations as long as they promise to pay on time.

As long as the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablAs long as the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablas the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablas their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payable.

Reverse mortgages do not require monthly payments and do not become due until the last borrower no longer occupies the home as their primary residence or fails to meet the loan obligations.5 Retirees may be able to improve their monthly cash flow and live a more comfortable lifestyle, by using a reverse mortgage to pay off their home or simply access their home equity to supplement their retirement income.

Borrower «A» (who used a 30 - year mortgage loan) ended up paying nearly three times as much in total interest over the life of the loan.

In a balloon loan the borrower has the considerable flexibility to utilize the available capital during the life of the loan, as most of the repayment is deferred until the end of the payment period.

Reverse mortgages allow homeowners (age 62 and over) to convert a portion of their home's equity into cash that generally doesn't need to be paid back as long as the borrower (s) lives in the home.

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.

The basic requirements to qualify for a reverse mortgage loan include: the youngest borrower on title must be at least 62 years old, live in the home as their primary residence and have sufficient home equity.

Government - backed FHA mortgages, which have a 3.5 % minimum down payment, can be a more affordable option for those seeking a smaller up - front cost — though, as mentioned above, all FHA borrowers must pay monthly insurance costs for the life of the loan.

If the borrower would like to set up a line of credit as an emergency fund, or receive monthly payments to help offset their cost of living they will be better suited to a variable interest rate loan.

A reverse mortgage loan typically does not require repayment for as long as the borrower (s) continues to live in the home as the primary residence, pays property taxes and insurance, and maintains the home according to the Federal Housing Administration (FHA) requirements, or until the last homeowner has passed away or has moved out of the property.

A reverse mortgage is a home loan available to seniors aged 62 and older that does not have to be repaid as long as the borrower continues living in the mortgaged home.

Live transfer mortgage leads which are also referred to as, hot transfer leads occur when a lead generation firm transfers a phone call with a potential borrower to a mortgage professional.

It represents both our commitment to providing military borrowers and their families with the best possible service, and as a meaningful symbol of an important milestone in their life — becoming a homeowner.

FHA insures that borrowers can live in their home as long as basic loan obligations are met (homeowner's insurance in force, property tax payments current and the home is maintained in good condition).

Today, FHA One to Four Family Mortgage Insurance is still an important tool through which the Federal Government expands home ownership opportunities for first time homebuyers and other borrowers who would not otherwise qualify for conventional loans on affordable terms, as well as for those who live in underserved areas where mortgages may be harder to get.