Sentences with phrase «made substantial down payments»

Also, they didn't do any subprime lending, because they can't: the definition of a subprime loan is precisely a loan that doesn't meet the requirement, imposed by law, that Fannie and Freddie buy only mortgages issued to borrowers who made substantial down payments and carefully documented their income.

Borrowers who are not able to make a substantial down payment — typically 20 percent of the home value — are viewed as a higher credit risk.

Making a substantial down payment helps buyers avoid paying private mortgage insurance and protects as decreased property values.

To get the best bang for your buck, he says you should make sure that the original lessee made a substantial down payment of at least $ 3,000.

Always make a substantial down payment — due to the depreciation of vehicles this helps keep you from being upside down (owing more than what the car is worth) in your loan.

Using the program, you buy a new home, make a substantial down payment and take out a reverse mortgage to cover that balance of the purchase price.

Talk to lenders about what loan amount might be available to you, and set on the task of saving to make a substantial down payment.

If a buyer makes a substantial down payment and is sufficiently creditworthy, and if the seller either owns a property outright or has the resources to pay off any remaining mortgage, installment sales can be beneficial to both parties.

Pete Walker, executive director of the DeKalb County Housing Authority, says that seniors who live at Hearthside Brookleigh will have access to a full slate of amenities and services without having to make a substantial down payment prior to moving in.

Not exact matches

In 2006, the District chose to apply $ 138 million of surplus revenues as a down - payment on the accrued liability to date, and beginning in 2008, the District has made substantial annual contributions — at least $ 80 million per year — to cover new liabilities and also pay down a portion of the accrued liability.

By concealing the true purchase price from the banks, Alizadeh received substantial amounts of cash, sometimes millions of dollars, at the close of escrow and avoided making the full down payment or, in some instances, any down payment.

It's also possible to be approved for a mortgage if you have a lower score, but you'll need a substantial down payment and your interest rates will be through the roof, making it all but impractical to keep up with.

A substantial down payment makes your loan - to - value ratio on the car more favorable for the lender, and reduces the amount you need to borrow.

Fannie Mae will sign off on borrowers with DTIs of up to 45 percent, but only if they have good credit scores and are making fairly substantial down payments.

On the other hand, if you can afford to make a larger down - payment, you should definitely consider conventional mortgage loans since you will end up paying less interest and less mortgage insurance premiums, and could thus save a substantial amount of money in the long run.

In other words, the 3 percent down payment can be a gift from someone else, making it possible to buy a home without substantial savings of your own.