Sentences with phrase «larger than the original loan»

An appraisal is not required for one of these mortgages; in that case, however, the loan must not be larger than the original loan.

During the up - to 54 month $ 100 monthly payment period, the minimum payment may not pay all of the interest due each month during the resident period, likely resulting in your principal balance becoming larger than your original loan amount at the end of your resident period.

(ii) If the consumer may make regular periodic payments that do not cover all of the interest due, the creditor must provide a statement that, if the consumer chooses a monthly payment option that does not cover all of the interest due, the principal balance may become larger than the original loan amount and the increases in the principal balance lower the consumer's equity in the property.

(i) If the regular periodic payments do not cover all of the interest due, the creditor must provide a statement that the principal balance will increase, such balance will likely become larger than the original loan amount, and increases in such balance lower the consumer's equity in the property.

Not exact matches

DfE claims that «the original purpose of the internal loan scheme provision was to enable schools to spread the cost of large one - off items of expenditure, particularly capital items, over more than one year to make these more affordable».

If a loans meets the following tests, it is covered under the law: 1) For a first - lien loan otherwise referred to as the original mortgage on the property - the Annual Percentage Rate (APR) exceeds by more than 8 percentage points compared against the rates on Treasury securities of comparable maturity; 2) For a second - lien loan otherwise referred to as a 2nd mortgage - the APR (Annual Percentage Rate) exceeds by more than 10 percentage points compared to the rates in Treasury securities of comparable maturity; or the total points and fees payable by the borrower at or before closing exceed the larger of $ 561 or 8 % of the total loan amount.

Borrowers who qualify for a higher loan amount than the amount of their original loan may be able to obtain a larger loan when they refinance.

In cash - out refinance loans, you refinance an existing mortgage loan for a larger amount than the original mortgage.