Sentences with phrase «because conventional lenders»

This makes it imperative for each person to have a high credit rating, because conventional lenders will charge you based on the spouse with the lowest score.

Not exact matches

These two approaches are drastically different and, because of how DTI is calculated in each scenario, it becomes a lot easier to get approved to live in a rental property when you're using a conventional mortgage via Fannie Mae as compared to a VA loan via an approved VA lender.

The conventional mortgage loan via Fannie Mae or Freddie Mac, which is available with nearly every mortgage lender, may be cheaper than the FHA refinance because you may be able to reduce or drop your mortgage insurance altogether.

For all conventional residential mortgages there will not be a fee because the mortgage consultant will shop the market for you and find a lender that doesn't charge a fee AND will beat your current lender's mortgage renewal rate!

Perhaps you need to focus on a lender that offers FHA loans because your credit score is too low for a conventional mortgage.

FHA has to operate within a different set of rules than conventional lenders (for example they are not allowed to reduce the principal balance of mortgages because it's prohibited by law).

Home buyers turned away by conventional lenders — because of, say, gaps in their work history or a recent divorce — can prove to be reliable borrowers, he said.

This is because conventional loan borrowers are typically seen as safer investments for lenders, so the insurance requirements are less stringent.

Because the FHA insures lenders against loss, recently, FHA mortgage rates have been lower than rates for non-insured, comparable conventional loans.

These low - down - payment loans have waxed and waned in popularity over the years depending on what other loan products are available from lenders; but after the housing crisis, many borrowers turned to FHA lenders because FHA loan guidelines are generally looser than conventional loan requirements.

Hard money lenders do take on more risk with their loans, and because of this heightened risk, interest rates are generally higher than conventional loans.

For those of you who are such industry dinosaurs that you remember how to do a FLEX 97 loan with Lender Paid Mortgage Insurance (LPMI), you're in luck because, aside from 95 % conventional with single premium financed mortgage insurance (SPMI), the time has come where this is the best high loan - to - value product for purchases.

Because of the decline in housing locally, many existing homeowners simply do not have enough home equity to qualify for a mortgage refinance loan with a conventional lender.

Because conventional loans are not backed by the government lenders follow stricter underwriting guidelines which require good credit, a strong financial status and lower loan - to - value ratios.

Because there's additional paperwork, conventional loans often require more manpower from your lender, and that increases the likelihood of fees.

Accordingly, if you're approved for a conventional loan but have a low credit score or income, you're likely to pay higher interest rates and more in insurance charges than you would for an FHA loan; this is because it's riskier for lenders to offer a conventional loan to you without the backing of the government.

Interest rates for renovation loans are usually one - eighth to one - quarter of a percentage point higher than they are for a conventional mortgage because these loans are riskier for the lender.

Because of these beliefs, we provide funding opportunities for entrepreneurs where conventional lenders won't.

USDA - In the past, many consumers that resided in rural areas had difficulty obtaining financing because most of the conventional lenders were not interested in extending credit in non-suburban or metro regions of the country.

In the mortgage industry, conventional loans are considered «prime» or «A paper,» because they merit the best mortgage rates and terms from the lender or bank.

Because sellers, unlike conventional lenders, do not charge loan fees or points, seller - financed costs are generally less than those associated with conventional home loans.

I can't go with a conventional equity loan because the seller doesn't want to sign a purchase agreement for that length of time, and I can't take out a loan without knowing whether the property will be sold before the funds come through, which is why a reached out to hard money lenders - they are much faster.

They're integral to home sales because they give lenders a market in which to sell their conventional loans so they can maintain liquidity for new lending.

Because lenders rarely do anything for free, the cost for an interest - only mortgage might be a bit higher than a conventional loan.

When a borrower selects a private lender it's because the property being financed falls outside of current industry guidelines due to any variety of factors, thus making it ineligible for conventional lending.

That's a huge advantage to the investor because if for some reason their loan doesn't fall within the «box» of conventional guidelines, these Lenders can still approve the loan and keep the loan in their portfolio.

Because an FHA loan doesn't have the strict standards of a conventional loan, it is required for the buyer to pay for two different mortgage premiums to protect the lender in case of default:

Because you are applying for a conventional loan (a loan that is not insured against default), the lender uses a sliding scale by offering to loan you 80 per cent of the first $ 750,000 of the purchase price, but only 60 per cent of the next $ 650,000.

Because lenders tightened their standards for conventional mortgages, as a result of losses incurred during the crisis.

I'm assuming your broker was saying that because he is working with conventional lenders.