Sentences with phrase «less than the loan amount»

Short Sales — A bank will often take less than the loan amount on a property to save the hassle and costs of foreclosing.

In some cases, lenders withdrew the mortgage pre-approval, because the condo was now worth less than the loan amount.

As a result, car owners can end up being upside down on their loan: The value of the automobile is less than the loan amount.

When the vehicle is availed under loan and if the worth of the vehicle is less than the loan amount, it is unfair to get into an auto insurance coverage at higher cost.

Among the drawbacks: the loans can't be prepaid, and if the stock value declines to less than the loan amount, the borrowers have to make up the gap.

If the appraisal results indicate that the home's value is less than the loan amount, the lender may refuse to finance the loan.

I am quite new to this whole thing, but from what I learned in the past is that if you take on a loan for a property that's worth less than the loan amount banks will not approve the loan.

Not exact matches

He says the Lendio survey is somewhat disingenuous, particularly because total payback amounts tend to favor small business lenders who push loans of less than a year.

If the amount available under the Asset - Based Revolving Credit Facility is less than the greater of (i) 12.5 % of the lesser of (A) the aggregate revolving commitments and (B) the borrowing base and (ii) $ 60 million, NMG will be required to repay outstanding loans and, if an event of default has occurred, cash collateralize letters of credit.

If the amount available under the Asset - Based Revolving Credit Facility is less than the greater of 1) 12.5 % of the lesser of (a) the aggregate revolving commitments and (b) the borrowing base and 2) $ 60 million, we will be required to repay outstanding loans and, if an event of default has occurred, cash collateralize letters of credit.

The monthly payments for this loan are more expensive than with a 30 - year mortgage as you are paying off the same amount of money in half the time, but you will pay less interest.

A collection agency, whether through the US government or private lender, won't usually settle a defaulted student loan debt if it's less than the amount that the lender is likely to receive over the life of the original loan — so negotiation is essential during settlement talks.

Typically, you'll be granted a specific loan amount based on the age of your business: up to $ 1,000 for ideas, up to $ 5,000 for businesses in operation less than 90 days, and up to $ 10,000 for businesses generating revenue.

The displayed rates and APRs assume a loan amount of $ 260,000, an owner occupied single family detached home located in Pennsylvania, first time usage of VA eligibility, a loan - to - value ratio of less than 80 %, a credit score of at least 740, and a debt - to - income ratio of less than 50 %.

That's why we may adjust the investment amount if the selling investors are left with a loan part that's worth less than # 20.

The Surcharge amount will be deducted from your loan proceeds, so the loan proceeds distributed to you will be less than the full amount of your loan.

If you have owned the property for less than one year, the lender must use acquisition cost plus the documented rehabilitation costs for your maximum loan amount.

Federal student loan fees are taken as a percentage of the total loan amount and deducted proportionally from each loan disbursement, meaning you'll receive slightly less than the amount you borrow.

Note that if your loan amount is smaller, you may pay less if the lender wraps all charges into an origination fee (usually, but not always, 1 percent of the loan amount) than you would if you paid separate fees of several hundred dollars each.

«Conventional» Products refer to those mortgage applications with Loan Amounts less than or equal to $ 453,100 in most counties.

The 35 - year loan amounts to the largest loan ever awarded to a state under the Transportation Infrastructure Finance and Innovation Act, but it's also less than the Cuomo administration had applied for.

If the school certifies an amount less than the amount you have requested, but is within the program limits, the loan amount will be adjusted to match the amount the school certifies.

You have a loan amount less than $ 625,000 and an LTV more than 95 %.

The chart differentiates loans in three ways: 1) duration of loan (more or less than 15 years), 2) loan amount (more ore less than $ 625,000), and 3) loan - to - value (LTV: size of the loan against the value of the home).

The lending institution will approve your loan in an amount that is equal to or less than the collateral that you provide on the loan application.

Since most payday loans are for less than $ 1,000, the borrower in most counties would file the action in small - claims court, and include any filing fees or other costs with the amount demanded from the defendant.

The unpaid balance, called a deficiency, arises if the foreclosure produces a sales price that is less than the amount due on the timeshare mortgage loan.

MCM is especially beneficial for buyers with mid-to-low level FICO scores (620 to 680) who plan on making a down payment of less than 20 % of the total loan amount.

Their current home loan is «underwater» (their home is worth less than the amount they owe on their mortgage).

The estate is not personally liable for any additional mortgage debt if the home sells for less than the payoff amount of the reverse mortgage loan.

Usually, the amount of your loan can be no more than 95 percent of the appraised property value or 95 percent of the sales price of your home, whichever is less.

Short Sale - A short sale is the sale of a home for a price that is less than the amount necessary to pay off the loan in full.

Then their companies that won't refi loans that are currently with them, because the loan amount is less than $ 200, 000, to me that redlining.

Then this past year we were given a payment amount that turned out to be less than the interest on the loan each month.

For instance, you can take out a 30 - year loan but pay it off in less than 30 years, and the amount you pay will be less if you pay it off sooner.

Unlike the real estate crowdfunding companies we mentioned above, these platforms allow loans for pretty much everything, and the amount of the loans are typically less than what you'll see in the real estate space.

Whatever that number is, take out a loan for less than half the amount.

Here's the formula: Loan amount ÷ appraisal value or purchase price (whichever is less) For example: The home you want to buy has an appraised value of $ 205,000, but $ 200,000 is the purchase price The bank will base the loan amount on the $ 200,000 figure, because it's the lower of the 2 You have $ 40,000 for a down payment, so you need a $ 160,000 loan to meet the $ 200,000 purchase price Your loan - to - value equation would look like this: $ 160,000 ÷ $ 200,000 =.80 You multiply.80 by 100 % and that gives you an LTV of 80 % Private mortgage insurance (PMI) If your down payment is lower than 20 %, your loan - to - value ratio for conventional financing will be higher than 8Loan amount ÷ appraisal value or purchase price (whichever is less) For example: The home you want to buy has an appraised value of $ 205,000, but $ 200,000 is the purchase price The bank will base the loan amount on the $ 200,000 figure, because it's the lower of the 2 You have $ 40,000 for a down payment, so you need a $ 160,000 loan to meet the $ 200,000 purchase price Your loan - to - value equation would look like this: $ 160,000 ÷ $ 200,000 =.80 You multiply.80 by 100 % and that gives you an LTV of 80 % Private mortgage insurance (PMI) If your down payment is lower than 20 %, your loan - to - value ratio for conventional financing will be higher than 8loan amount on the $ 200,000 figure, because it's the lower of the 2 You have $ 40,000 for a down payment, so you need a $ 160,000 loan to meet the $ 200,000 purchase price Your loan - to - value equation would look like this: $ 160,000 ÷ $ 200,000 =.80 You multiply.80 by 100 % and that gives you an LTV of 80 % Private mortgage insurance (PMI) If your down payment is lower than 20 %, your loan - to - value ratio for conventional financing will be higher than 8loan to meet the $ 200,000 purchase price Your loan - to - value equation would look like this: $ 160,000 ÷ $ 200,000 =.80 You multiply.80 by 100 % and that gives you an LTV of 80 % Private mortgage insurance (PMI) If your down payment is lower than 20 %, your loan - to - value ratio for conventional financing will be higher than 8loan - to - value equation would look like this: $ 160,000 ÷ $ 200,000 =.80 You multiply.80 by 100 % and that gives you an LTV of 80 % Private mortgage insurance (PMI) If your down payment is lower than 20 %, your loan - to - value ratio for conventional financing will be higher than 8loan - to - value ratio for conventional financing will be higher than 80 %.

Here are some of the tools found on the College Ave website: Pre-qualification tool that allows customers to find out if they are qualified for any of the provided loans, student loan calculator that allows customers to calculate the total amount spent on a loan, and a quick application setting that applies for a loan in less than five minutes.

Installment — have paid down on average 35 % of the original amount of the loan, in addition the average they usually owe less than $ 1200 on their non-mortgage accounts

A good idea might be to take out a loan of less than $ 5,000 to begin with, pay it off with timely payments, and then move up to larger amounts.

A conventional mortgage is one in which the down payment amount is equal to more than 20 % of the purchase price (or where the loan value is less than 80 %).

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.

Even if home prices stay the same, if you have a loan that includes negative amortization (when your monthly payment is less than the interest you owe, the unpaid interest is added to the amount you owe), you may owe more on your mortgage than you originally borrowed.

It usually costs less than 1 % of your total loan amount.

Payments made under the Standard Repayment Plan for Direct Consolidation Loans would qualify for PSLF purposes only if the maximum repayment period was set at 10 years, and that would be the case only if the total amount of the consolidation loan and your other education loan debt was less than $ 7,500.

Note that if your loan amount is smaller, you may pay less if the lender wraps all charges into an origination fee (usually, but not always, 1 percent of the loan amount) than you would if you paid separate fees of several hundred dollars each.

It is a payment usually required of a borrower for loans in which a down payment is less than 20 percent of the sales price or, in a refinancing, when the amount financed is greater than 80 percent of the appraised value.

However, if you put anything less than 20 % down on a conventional loan, you'll need to pay private mortgage insurance — a monthly premium that can range anywhere from 0.3 % to 1.5 % of the total loan amount.

If the amount your school determines is more than you actually need, you can also borrow less money - something that will come in handy if it is your goal to pay off your student loans faster.