Sentences with phrase «impose higher credit score»

Lenders, aware that a high default rate could get their FHA approval yanked, even if they abide by FHA guidelines, choose almost universally to impose higher credit score requirements on borrowers they approve.

Some lenders charge more to lend on vacation property, and most impose higher credit score and down payments for these houses.

Not exact matches

This has already happened to some extent, with many lenders imposing minimum credit scores that are far higher than FHA's 580 floor.

The Consumer Financial Protection Bureau imposed the fines on American Express after the company admitted discriminatory practices include charging higher interest rates, imposing stricter credit score cutoffs and providing less debt forgiveness.

Despite needing a high credit score for these cards, that fee is still imposed.

Not every P2P lender deals with small business loans, and many won't accept borrowers below a certain credit score; the ones who do may also impose high interest rates, so prepare yourself for the potential cost if you're early in your business career and in need of financing.

Recently, the National Community Reinvestment Coalition asked HUD to investigate 22 lenders that impose stricter underwriting criteria than required by FHA to insure mortgages, claiming that requiring higher credit scores discriminates against minority mortgage applicants.

Not every P2P lender deals with small business loans, and many won't accept borrowers below a certain credit score; the ones who do may also impose high interest rates, so prepare yourself for the potential cost if you're early in your business career and in need of financing.