Sentences with phrase «as the borrower meets»

The loan typically does not become due, as long as the borrower meets the loan obligations.

As long as the borrower meets income and credit criteria, NFCU releases your cosigner at the requested time.

The number of conventional to FHA refinances has almost doubled in the last year, and as long as borrowers meet a few simple requirements, they will qualify for a more reliable FHA refinance.

The loan typically does not become due, as long as the borrower meets the loan obligations.

As long as the borrowers meet the debt to income ratio guideline they may choose to move to a shorter term.

Not exact matches

Today, banks don't typically want to deal with the smaller loan amounts (even for creditworthy borrowers), and in some circumstances many micro lenders are willing to work with startups the bank would shy away from, as well as small business owners who just don't meet the rigid lending criteria of a bank.

A technical loan default is when a borrower fails to meet a specific component of their loan compliance such as failure to comply with a non-financial covenant or a failure to deliver reports and financials on time.

In fact, pretty much anybody who cares enough about the borrower's future to help them out can be a cosigner, as long as they are at least 18 years old, a U.S. citizen or permanent resident, and meet the lender's credit and income requirements.

In addition to meeting the requirement described above, to qualify for the PAYE Plan you must also be a new borrower as of Oct. 1, 2007, and must have received a disbursement of a Direct Loan on or after Oct. 1, 2011.

Once the human underwriter gives you the green light, you have credit approval, which means that you, the borrower, meet the lender's guidelines and can close as long as the property also complies with the lender's requirements.

So, if you've met the criteria of all 5 C's and are also applying for a large loan, it's more likely that banks will be competitive to win your business as a worthy borrower.

However, this provision can be waived under certain circumstances for public agency borrowers having senior bonds under preexisting indentures so long as certain conditions are met, as further discussed in Section 2 - 1 above.

These specifications, which would come to be known as «FHA guidelines», require lenders to check debt - to - income ratios for all borrowers; to verify adequate assets for a downpayment of 3.5 % or more; and to verify that the subject property meets minimum FHA standards.

In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on - time full principal and interest payments as indicated in the borrower's credit agreement during the repayment period (excluding interest - only payments) immediately prior to the request.

Although this is often regarded by borrowers as a positive aspect of the loan, some do not like the fact that these regulations increase the number of requirements borrowers must meet in order to qualify.

Please meet with a licensed loan originator for more information as programs are available only to qualified borrowers.

A financial institution will approve a borrower for up to a set amount and the borrower has full use of the funds as long as they don't overdraw the account and continue to meet their monthly payments.

• Further explain a reverse mortgage • Tell you about reverse mortgage product options • Go over reverse mortgage costs, such as the total annual cost • Help you determine your borrower eligibility • Help you determine if you can afford a reverse mortgage • Help you determine if you can meet all financial obligations such as maintaining your taxes and insurance • Expose you to alternative options like tax deferral programs, grant money, financial assistance, etc. • Explain how your choice can impact your heirs and estate • Go over loan comparisons

However, as a reaction to the surge of poor credit borrowers and the high demand for flexible loan programs, lenders have recognized a growing (and profitable) lending market and have started designing poor credit home loans to meet the surge.

If a loans meets the following tests, it is covered under the law: 1) For a first - lien loan otherwise referred to as the original mortgage on the property - the Annual Percentage Rate (APR) exceeds by more than 8 percentage points compared against the rates on Treasury securities of comparable maturity; 2) For a second - lien loan otherwise referred to as a 2nd mortgage - the APR (Annual Percentage Rate) exceeds by more than 10 percentage points compared to the rates in Treasury securities of comparable maturity; or the total points and fees payable by the borrower at or before closing exceed the larger of $ 561 or 8 % of the total loan amount.

If you believe that your loan was incorrectly placed in default, you should first consider whether you have met all of your responsibilities as a borrower.

A reverse mortgage allows homeowners 62 and older to convert a portion of their home equity into usable funds without having to repay the loan for as long as the loan obligations are met.1 The fact that reverse mortgages do not require monthly mortgage payments2 often leaves potential borrowers with questions about when the loan -LSB-...]

If you believe that you've met all of your responsibilities as a borrower and that your loan was placed in default in error, you must contact your loan holder and provide evidence that your loan should not be in default status.

Borrowers that may be otherwise ineligible for an FHA - insured mortgage due to waiting period for bankruptcies, foreclosures, deeds - in - lieu, and short sales... may be eligible for an FHA - insured mortgage if the borrower (A) can document that the delinquencies were the result of an Economic Event as defined in this letter, (B) has completed satisfactory Housing Counseling, as described in this letter, and (C) meets all other HUD requirements.

The property used as collateral guarantees repayment of the loan in case the borrower fails to meet the monthly payments.

With federal loans, there are plans based on income and also forgiveness programs for borrowers meeting eligibility criteria, such as working in certain public service jobs or teaching in certain schools or educational service agencies serving low - income families.

By using your vehicle as collateral, borrowers must consent that their title can have a lien placed against it by the lender or have their vehicle repossessed for nonpayment and or failing to meet the lender's obligations.

However, cancellations from HAMP trial plans remain high as many borrowers who received temporary modifications were not able to meet eligibility requirements such as verifying their income and successfully making trial payments.»

The idea was that borrowers, who retained the title to their homes, would never be forced out, as long as they met the requirements of the loan.

In order to make the best decision, you'll have to look beyond rates and find the lender that can meet your top priorities as a borrower.

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.

We offer the flexibility to create small business loans with terms that meet your specific needs as a borrower.

As a result, the ability to use rent history and utility bills makes it much easier for borrowers to meet FHA lender qualifications.

As with any home - secured loan, the borrower must meet their loan obligations: keeping current with property - related taxes, insurance, maintenance and any homeowners association fees; failure to pay these amounts may cause the loan to come due, may subject the property to a tax lien or other encumbrances, or may result in the loss of the home; 4.

As a result, borrowers who use conforming loans (which meet the size restrictions used by Freddie Mac and Fannie Mae) often qualify for lower mortgage rates than those who use jumbo loans (which are too big to be sold to Fannie or Freddie).

This type of mortgage allows homeowners 62 + years old to convert a portion of their home equity into usable funds without having to repay the loan for as long as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider -LSB-..as long as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider -LSB-..as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider -LSB-..As you evaluate this financing option consider -LSB-...]

A reverse mortgage allows homeowners 62 and older to convert a portion of their home equity into usable funds without having to repay the loan for as long as the loan obligations are met.1 The fact that reverse mortgages do not require monthly mortgage payments2 often leaves potential borrowers with questions about when the loan needs to be repaid.

The loan obligations require the borrower to pay for their own homeowners» insurance, property taxes, and maintain their home in accordance with guidelines mandated by the Department of Housing and Urban Development.1 As long as these terms are met; monthly mortgage payments are not requireAs long as these terms are met; monthly mortgage payments are not requireas these terms are met; monthly mortgage payments are not required.

Borrowers must also meet financial eligibility criteria as established by HUD.

That means prospective borrowers will need to meet the same credit, debt - to - income, residual income and other requirements as a veteran purchasing an existing home.

It is critical... that borrowers who pursue rehabilitation understand that it can only be successfully completed once and, as such, may not be the most suitable option for borrowers who may not be able to continue to meet their monthly payment obligations once they return to current status.

A reverse mortgage becomes due when the borrower fails to meet the loan obligations or no longer occupies the home as their primary residence.

As long as you meet the basic borrower eligibility requirements, you can submit your request for a personal loaAs long as you meet the basic borrower eligibility requirements, you can submit your request for a personal loaas you meet the basic borrower eligibility requirements, you can submit your request for a personal loan.

As a result, the pressure on the borrower to meet to the expectations of lenders is lessened.

According to the 2018 CALHFA guidelines, there are certain eligibility requirements that must be met by the borrower as well as the property in question.

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).

The borrower must meet credit and income requirements as outlined by VA underwriter.

Borrowers must continue to meet ongoing property obligations such as homeowner's insurance and property tax payments.

A VA loan also protects borrowers who apply for a VA loan by giving them specific protections such as guarantees from new home builders that the home they buy meets VA specifications and provides compensation for structural defects if a new home bought with a VA mortgage is found to have livability issues.

To qualify for student debt cancellation in bankruptcy, the borrower must prove to the court that they are unable to meet a minimum standard of living as a result of their student loan debt.