Sentences with phrase «enough collateral for its loan»

Estimates the value of the property you plan on purchasing or refinancing so that the lender is satisfied you are not overpaying and ensures that the lender has enough collateral for the loan.

This is mainly to protect the lender from loaning money on a property that doesn't provide enough collateral for its loan.

Not exact matches

You want to leave enough for your beneficiaries to continue paying off your loans, especially if those loans are secured by collateral your dependents need to continue using.

Secondly, lenders reduced their risk exposure because the rising market provided equity to the homeowners, which was enough collateral to refinance the loan to a lower payment option (or new teaser rate) to avoid foreclosure, or at the very least, sell the property for a small profit.

You want to leave enough for your beneficiaries to continue paying off your loans, especially if those loans are secured by collateral your dependents need to continue using.

A hard money rehab loan can be one of the easiest to get approval for, simply because it presumes you already own or have high enough equity in the underlying property (instant collateral).

Hard money lenders are more able (and willing) to make these loans because, unlike banks and other institutional lenders, they use asset - secured underwriting with the real estate serving as the sole collateral for each loan, and they are able to charge enough interest in order to cover the high risks involved in underwriting such loans.

The appraisal helps the lender determine whether the home is valuable enough to act as collateral for the mortgage loan.