Sentences with phrase «history as a borrower»

The APR offer you receive will vary from lender to lender, based on the loan product you're seeking and your history as a borrower.

These reports describe your history as a borrower and include details such as payment history, current balances and unpaid debts.

The FICO credit score condenses your entire history as a borrower into a tidy three - digit number.

Not exact matches

Some borrowers have no credit history or were saddled with bad credit as a result of a divorce or other issue.

Thus, they can not rely as much on the value of the housing collateral in securing their mortgage loans, and consequently now put more weight on the credit histories of the borrowers.

Rather than relying on personal assets such as a car, boat or home to secure the loan, unsecured lenders look exclusively at a borrower's credit worthiness to determine eligibility, making those with high credit scores and a long, solid credit history the best candidates for an unsecured business line of credit.

First, because they represented a transfer from net savers to net borrowers, they helped to exacerbate the split between the growth in household income (households are net savers) and the growth in GDP (which is generated by net borrowers), and so led directly to the extraordinary imbalance in the Chinese economy in which consumption, as a share of GDP, has declined to perhaps the lowest level ever recorded in history.

Lending Club uses a somewhat complex formula that takes into account various factors that appear on a borrower's credit report, such as FICO score, number of recent credit inquiries, length of credit history, the total number of open credit accounts and revolving credit, to name a few.

This situation can come as a shock to borrowers who have a positive repayment history and suddenly find themselves in default.

Over time, repaying student debt has a positive impact on borrower's credit score and history, so long as the bill is paid on time each month.

Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.

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.

Borrowers can use payment histories on items such as utility bills, cell phone bills, car insurance bills and apartment rent to build non-traditional credit.

«The lack of a credit history, or the borrower's decision to not use credit, may not be used as the basis for rejecting the loan application.»

SoFi is often identified as a company aimed at millennials, and its alternative method of assessing borrowers does make it easier for applicants with shorter credit histories and higher debts to qualify.

For self - employed borrowers with a history of paying themselves, mortgage guidelines as of June 2016 state that the borrower no longer needs to prove access to the business income.

Turning to look at the small sub-prime market in Australia, non-conforming housing loans are the closest equivalent to sub-prime loans in the US, being provided to borrowers who do not satisfy the standard lending criteria of mainstream lenders such as those with impaired or incomplete credit histories.

If you're a younger borrower that hasn't built up a significant credit history, having a parent or relative act as a cosigner can help boost your chances of securing approval.

The loans which depend upon the borrower's credit history and his ability to repay them from his personal income qualify as personal loans.

You probably know that credit is a way to evaluate your trustworthiness as a borrower, using a credit report (documentation of your past borrowing and accounts) and a credit score (a three - digit number that represents your history at a glance).

«The lack of a credit history, or the borrower's decision to not use credit, may not be used as the basis for rejecting the loan application.»

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.

2) At the time of loan application the borrower must exhibit an acceptable payment history as described below:

Credit scores and histories are commonly the most important ones to consider, as they portray the ability of a borrower to handle personal debts.

Credit scores do nothing more than give a probability that a borrower will make good, based primarily on his history of paying other people back, but also considering such measures of financial stress as how many times he has asked for a loan recently and the credit lines to credit used ratio mentioned above.

Earnest is also known as a good option for well - qualified borrowers with short credit histories, also known as a thin portfolio, who may want to use personal loans as vehicles for supplementing their credit.

Federal loans don't require a credit history or a co-signer, and they offer more generous protections for borrowers than private student loans do, such as income - driven repayment and loan forgiveness.

Earnest looks for financially responsible borrowers with good credit history, so we do not recommend it as an option for significant debt consolidation.

Financial Assessment will require lenders to analyze potential borrowers» income sources and credit history to determine whether or not borrowers must have a mandatory set - aside of funds from proceeds to cover necessary expenses such as property taxes and homeowners insurance.

Lending Club is known as a lender focused on well - qualified borrowers with excellent or very good credit, high income and long credit history (16 + years on average).

They recognize that just because someone has a poor credit history does not mean that they do not need a financial infusion once in a while, just as with good credit borrowers.

These include information from the borrower's financial history, as well as larger figures that indicate the current state of the credit market.

Because of the added risk that the lender takes out when granting credit to you regardless of your payment history, you can expect to pay a tad more interest than a traditional borrower with good credit who is not seen as a credit risk to the lender.

To use home - sharing income on a refinance application, borrowers will need to have at least a 12 - month history of documented earnings and the property must serve as their primary residence.

For comparison, many payday lenders, who also lend to borrowers with poor or limited credit history, charge interest rates as high as 400 % and require borrowers to pay back the loan over a short period, usually two or three weeks.

If you've damaged your credit history, you're going to have to be a good little borrower and wait out your past indiscretions even as you build good credit files.

Short term money providers rely on their own scoring criteria based on the borrowers» payment history, income and ability to pay as opposed to the overall credit score.

It can be assumed that an ideal applicant has an established credit history with a good track record, helping indicate the applicant as a low - risk borrower.

Personal loans in Wisconsin offered through NetCredit range from as little as $ 1,000 up to $ 10,000, based on the borrower's ability to repay and credit history.

As a consumer finance company, Marine r Fina n ce has a steady history of providing quick and easy personal loans to qualified borrowers.

You are able to review information about the borrower such as their credit scores, background (or «story») and borrowing history.

In doing so, the lender may review any and all sources of income, as well as the prospective borrower's credit score and property charge history.

LendingClub releases more data on how it calculates a borrower's interest rate than Prosper does, but both platforms are going to weigh the typical credit factors such as FICO score, number of inquiries, credit history, credit utilization, and so forth.

As always, this depends on the type of loan, the quality and value of the asset and the borrower's credit score and history.

On the one hand, if you have no credit history, student loans can help establish good credit as well as help educate borrowers on how to make wise financial decisions.

Borrowers simply enter their information online, including the value of their home and current mortgage balance, as well as some credit history information, and the company compiles a list of lenders willing to offer a home equity line of credit.

That's because your payment history is a major factor in determining your credit score, and if you make a point to always pay your bills on time, you'll come across as a trustworthy, responsible borrower.

These norms, focused on evaluating borrower risk on past credit history and credit score, do not work as an accurate gauge for international students and their creditworthiness.

As of April 2015, FHA began requiring reverse mortgage lenders to consider credit and income history in determining borrowers» eligibility.

This can require quite a bit of effort on the part of the investor, as it may require digging into the borrower's experience and financial history, as well as learning more about the current and long - term demand for real estate in the market where the property is located.