Sentences with phrase «borrower on a mortgage application»

Not exact matches

When it comes to mortgage approval, much depends on the borrower's total debt load at the time of application, as well as the payment history.

Lenders will typically run a credit check on a potential borrower as part of the mortgage application process, and will use it to set the terms of the loan.

When it comes to mortgage approval, much depends on the borrower's total debt load at the time of application, as well as the payment history.

Quicken's online resources and tools also make it a great choice for borrowers interested in an application that's more convenient and on - demand than traditional mortgage lending.

To check for authenticity lenders need third - party independent verification of a borrower's submitted income on their mortgage application.

The following changes apply for Kentucky FHA Streamline loans with or without appraisal: A.) Seasoning — At the time of loan application, the borrower must have made at least 6 payments on the FHA - insured mortgage being refinanced.

The integration enables loan officers that are using Floify to streamline their mortgage process and automatically collect a borrower's credit report from Credit Plus upon submission of a loan application or on - demand directly from their Floify account.

At the time of application, borrowers must have made a minimum of six payments on the mortgage loan being refinanced.

All mortgage applications moving forward will undergo qualifying «Stress Tests» whereby affordability ratios will be calculated based on the Bank of Canada Benchmark rate of 4.65 % to determine if borrowers will be able to afford their mortgage payments in the event of a rate increase.

Additionally, on a joint mortgage application, lenders will use the lower of the two middle credit scores, regardless of which borrower is the «primary wage earner»; or, whether it's a mortgage with a co-signer.

The government requires that lenders list closing costs on every mortgage applicant's Loan Estimate, which lenders provide to potential borrowers within three days of submitting an application.

Among those expected to be arrested are people who encourage borrowers to lie about income on home loan applications, mislead homeowners about mortgage rescue programs, and inflate home appraisals.

Sky Financial Corporation / The Mortgage Center is able to cut the application to approval time by as much as half and we offer borrowers with reasonably good overall credit and a history of making mortgage payments Mortgage Center is able to cut the application to approval time by as much as half and we offer borrowers with reasonably good overall credit and a history of making mortgage payments mortgage payments on time.

Every borrower can fill in the online application on our site and it will be reviewed by the mortgage loan providers.

The ingredients for confusion and deceit were present in that there was fraudulent conduct by the borrower, says Robert Highmore, head of London property litigation at Charles Russell LLP: «The premises were not clearly identifi ed by signage, there were similar premises nearby also controlled by the borrower, insufficient details of the property were entered on the mortgage application form and arrangements for inspection were made relatively informally over the telephone.»

The main responsibility of a senior mortgage underwriter includes approving and denying mortgage loan applications, evaluating and verifying applications, and determining whether or not the borrower will be able to repay the loan on time.

When it comes to mortgage approval, much depends on the borrower's total debt load at the time of application, as well as the payment history.

Giant mortgage investor Freddie Mac plans to dispense with traditional appraisals on some loan applications for home purchases, replacing them with an alternative valuation system that would be free to both lenders and borrowers.

To qualify for a stated income loan (sometimes call ed a liar's loan) the mortgage broker use the income the borrower states on the application form — as opposed to the income the borrower can document.

Work by the Harvard Joint Center for Housing Studies indicates that borrowers with lower incomes as well as minorities face higher rejection rates on their mortgage applications.

-- Borrower current at the time of short sale: A borrower is considered eligible for a new FHA - insured mortgage if, from the date of loan application for the new mortgage, all mortgage payments on the prior mortgage were made within the month due for the 12 - month period preceding the short sale, and installment debt payments for the same time period were also made within the moBorrower current at the time of short sale: A borrower is considered eligible for a new FHA - insured mortgage if, from the date of loan application for the new mortgage, all mortgage payments on the prior mortgage were made within the month due for the 12 - month period preceding the short sale, and installment debt payments for the same time period were also made within the moborrower is considered eligible for a new FHA - insured mortgage if, from the date of loan application for the new mortgage, all mortgage payments on the prior mortgage were made within the month due for the 12 - month period preceding the short sale, and installment debt payments for the same time period were also made within the month due.

Work by the Harvard University Joint Center for Housing Studies indicates that borrowers with lower incomes as well as minorities face higher rejection rates on their mortgage applications.