Sentences with phrase «granted at the lender»

Forbearances are granted at the lender's discretion, usually in cases of extreme financial hardship or other unusual circumstances when the borrower does not qualify for a deferment.

Not exact matches

The lender is taking on less risk, so they will usually grant a higher credit maximum at a lower rate for secured lines.

A few jurisdictions have modified the customary five - year charter term to make charter schools more attractive to lenders: Arizona and Washington, D.C., both have 15 - year charter terms, with high - stakes reviews happening at least every five years, and Colorado charters can be granted 30 - year terms.

Before approval is granted, lenders look at a number of documents to get a clear picture of an applicant's financial situation.

A consumer lender must have at least $ 50,000 in working capital on its balance sheet, and financial records must be audited on an annual basis after a license is granted.

And while getting loan approval fast might not be likely, there can at least be a greater confidence that lenders will grant the loan in the end.

At the same time, lenders have tightened underwriting standards, requiring better credit scores, higher income, and larger down payments before granting mortgages.

This is to guarantee the repayment of the loan and make the lender feel more at ease about granting you the loan.

If lenders look at your full credit report while you are in a DMP, they will see that you are repaying the debt at a reduced rate and it may affect their final decision on whether to grant you a loan.

Forbearance is granted at the discretion of your lender.

Because of the confidence lenders have in lending to the military, military loans are granted at lower interest rates.

However, since you're still fairly new at this, lenders may want to see a more established track record before granting you a mortgage.

However, if the borrower needs to consolidate a Perkins Loan in order to bypass a lender who refuses to grant early repayment status, it is financially worthwhile to do so if the Stafford Loan balance is significantly greater than the Perkins Loan balance (i.e., at least 2 - 3 times greater).

Following these practices can lead to sustainable levels of credit being granted at fair terms — a win - win for lenders and consumers alike.

You can request removal of the PMI as soon as your LTV ratio reaches 80 % as per the amortization schedule and the lender must grant the request provided your account being in good standing, i.e. you have not missed payments or made late payments and your LTV actually is at 80 % as per the amortization schedule (which uses the original appraised value of the house).

You can request removal of the PMI if your LTV ratio reaches 80 % earlier than the scheduled date because you have made extra payments etc. but the lender is not required to grant this request without further ado; the lender is allowed to ask you to pay for an appraisal to make sure that the house has not declined in value in the mean time and so you actually are at 80 % LTV, and can decline the request if you refuse to pay for the appraisal or if the appraisal shows that the value of the has decreased and so you are not actually at 80 % LTV as per the new appraised value.

Your lender is going to scrutinize your financial standing before granting you your loan - they could pull your credit and re-verify your income at any time during the process.

Some VA lenders will grant an automatic extension for say one to three days at no charge if rates are higher than the locked rate.

For this reason, lenders will like to limit their risks by assessing your creditworthiness so that they can determine whether you qualify for the loan and the amount and the interest rate at which they will grant you.

Grant continues, «As a company that sells mortgage leads to banks and lenders we get a lot of feedback from lending companies and most FHA lenders do not want to get burned when the interest rate converts to a variable rate term, especially since 30 - year fixed rate mortgages are published at 4.375 %.».

You'll get advice and help for free, and while counselors can't ever promise to save a home, they'll be happy to take a look at any paperwork or information about your case, contact your lender about options if you grant permission, and connect you with vetted legal assistance if need be.

It can be big problem because the lenders are looking at the borrower's credit history before granting him mortgage.

Lenders look at your financial track record before granting credit.

The fact that remortgages and secured loans are safely secured, lenders have more confidence that the customer will repay their borrowings and are therefore prepared to grant remortgages and secured loans at good interest rates.

Its «Live Where You Work» program, set up in cooperation with local lenders and started with the help of the NATIONAL ASSOCIATION OF REALTORS ®» Ira Gribin Workforce Housing Grant program, offers buyers who work at least 30 miles from their job no - interest loans of up to $ 5,000 for down payment and closing costs when they purchase a home to reduce or eliminate their daily commute.

The Conventional 1 % down mortgage uses either the Freddie Mac HomePossible Advantage loan or Fannie Mae's HomeReady loan, with additional qualifying criteria, that only requires a buyer contribute 1 % down payment and then they receive a 2 % grant (grant capped at $ 5,000) from the lender.