Sentences with phrase «higher loan sum»

There are also benefits to the borrower in the form of lower interest rates, longer terms, higher loan sum limits and, usually, no credit checks to hamper the whole process.

If you have a good credit score and a spotless credit history, you will probably be able to obtain high loan sums, but if this is not your case, the funds will be limited.

Not exact matches

But many borrowers can't afford the lump sum payment, so they roll over the original loan, plus the original fee plus a new fee, which is higher than the initial fee because the borrower owes both the principal plus that fee at this point.

It should be recalled that Senator Yerima had earlier been arraigned in 2016 by ICPC before Justice Bello Shinkafi of High Court 4, Gusau, Zamfara State on a 19 - count charge bordering on alleged diversion of N385.5 million and other sums from the N1bn loan meant for the repair of a collapsed dam and rehabilitation of flood victims while he was Governor.

What is important in applying for a loan is that the sum should not be particularly high.

The following features are prohibited from high - fee, high - rates loans: 1) All balloon payments - where the normal payments do not pay off the principal balance in full and a lump sum payment of more than twice the amount of the normal payments is required - for loans with less than 5 yr.

What this means is that those who have successfully secured personal loans, despite bad credit hanging over them, face strict limits to the sum available to borrow, higher rates of interest and, sometimes, less flexible repayment schedules.

When seeking an unsecured loan, the lightest increase in interest rate can mean a repayment sum too high to permit approval.

The biggest problem with missing a single loan repayment is that over just a short time, with fines and charges, the sum can become extremely high.

On the surface, it might look higher, but when compared to the total sum paid over the 4 or 5 student loans, it is much less.

The interest rates are lower than on a home equity loan, but the closing costs are considerably higher because the transaction involves a much larger total sum of money.

A home equity loan allows you to borrow against this equity and take out a lump sum that you can use to pay off high - interest credit cards.

The 7 (a) loan is the SBA's most popular product and offers a flexible sum of cash for a variety of uses, including managing daily operations, purchasing new products and refinancing high - interest loans.

This loan gives you an alternative to refinancing and an option to collect a lump sum of cash from your equity, if the interest rate on your mortgage is higher than current rates of interest.

But amongst the cons of managing loan debt in this way is the fact that the sum of interest repaid over the lifetime of the loan is much higher.

Especially for first - time home buyers, taking out a large sum loan means higher risk.

This is because your new debt affects his or her credit utilization ratio (used credit vs. allowed credit), so if you're asking your cosigner to vouch for you for a large sum (i.e. a student loan), then his or her debt - to - income ratio may become too high.

On the other hand, you might prefer to use a student loan company to refinance private student loans, as many offer low rates and will refinance or consolidate much higher sums.

With high fees and lump - sum repayments, short - term cash advance loans are already a questionable resource for those... read more»

With high fees and lump - sum repayments, short - term cash advance loans are already a questionable resource for those out of other options.

During the period of the loan, you may decide that you want to make an extra lump sum payment or pay back a higher amount each month than you originally agreed with the lender.

If you wanted to borrow $ 40,000, the monthly payments on a 10 year loan will likely be much higher than with a 20 year loan because the total sum is divided over fewer monthly payments.

Secured loans are typically used for large - sum loans and generally offer lower interest rates and high limits depending on the collateral.

So why don't lenders offer a true reverse mortage which would compute and lend a stream of payments (at interest of course, but hopefully a rate reflective of the low risk given the high property value / loan ratio) rather than a useless lump sum which has seniors paying pretty high mortgage interest rates on a large amount of loan, rather than a interest on the (rising) amount of loan as the stream of payments accumulated.

Lenders are often more willing to lend higher sums to consumers if the loan is secured by collateral because they have something tangible to repossess or foreclose on if the borrower defaults, according to Andrew Chan, a financial adviser at Locker Financial Services, LLC in Little Falls, N.J. Because this is a lower risk for lenders, they may also be more willing to forgive lower credit scores.

Their premiums are often lump - sum payments and significantly higher, especially early in, than that of a term life policy, but because once the investment has been made, it is made, they can be used as security for loans and leveraged in a variety of ways to free up liquid capital, and their cash value is tax deferred.

Used to preach, buy term, invest the difference... But a permanent death benefit, cash values, tax free loans, tax free lump sum payment to beneficiary, privacy of beneficiary info, very difficult for others to get at your cash value, ability to fund very high amounts with tax benefits, cheaper while you are younger / healthy, paid up additions, Potential less premium with IUL and index gains potential, or Whole Life and pay more for insurance, but higher dividends...

The actual sum may be higher or lower depending on the options selected, outstanding policy loans or premium owed.

For calculating the insurance needs, you can sum up the outstanding loan amount, child's higher education & marriage expenses, regular household expenses, or other financial obligations.

Additionally there is an accidental rider, high sum assured discount, bonuses and loan facility available under this child plan.

There is no facility available for loan in this policy.Benefits Death benefits: The policyholder's fund value or an amount equal to the higher of basic sum assured will be payable.

Always choose a higher sum assured than your amount of loan.

Again, most LPMI loans use an adjusted (higher) mortgage interest rate, as opposed to a lump - sum payment up front.

If a home is currently financed at a high interest rate, a new loan at a lower rate can save a surprising sum over the life a loan.

Mortgages that exceed the conforming loan limit in a given county are considered «jumbo loans» and generally carry a higher interest rate to compensate the bank for the risk of lending such a large sum.