Sentences with phrase «means as a borrower»

This report is referring to student loan balances taken out by someone who is over 65, meaning as a borrower or cosigner for their child or grandchild.

Not exact matches

This means that the creditor will examine the character of the borrower as well as his or her ability to run a successful business.

As the Federal Reserve examines when it might increase interest rates, consumers and business borrowers are contemplating what the hike might mean.

But if you have a private loan, those loans may be fixed or have a variable rate tied to the Libor, prime or T - bill rates — which means that as the Fed raises rates, borrowers will likely pay more in interest, although how much more will vary by the benchmark.

But as the number of credit card accounts in the U.S. rises, the majority of new customers are subprime borrowers, generally meaning those with a credit score of 660 or below.

The suggested fixes include capping loans at 65 per cent of the home value, introducing new and more conservative means of estimating how much a residence is worth, and amortizing the loans (meaning that borrowers would have to repay the principal within a certain time frame, as in a mortgage, whereas now they can simply keep paying interest on their HELOCs).

This means that as long as the PBoC intervenes in the currency, it can not provide debt relief to struggling borrowers, and to the economy overall, by lowering interest rates without setting off potentially destabilizing capital outflows as the interest rate differential narrows.

Filing separately won't make sense for all borrowers as it means they will make much less progress on paying back their student loans.

Conversely, this means borrowers could put down as little as 3 % and still qualify for a conventional home loan.

This means qualified borrowers could buy a home with as little as 3 % down at the time of purchase.

This is good news for mortgage borrowers nationwide, and it's also good news for Harvey victims because it means cheap funding will be available as they re-build.

Conversely, that means the home buyer / borrower can make a down payment as low as 3 % on such a loan.

Once the human underwriter gives you the green light, you have credit approval, which means that you, the borrower, meet the lender's guidelines and can close as long as the property also complies with the lender's requirements.

Borrowers will no longer be able to rely on existing pre-approvals obtained by using the HEM benchmark as they can then find themselves in a position where they have won an auction but then the bank does not give them enough money to settle which would mean losing their deposit.

This means you'll save some money on the interest you'll pay back against your borrowing; making balance transfers a preferred way for many borrowers to axe interest and pay off outstanding debt, as many credit card companies offer an interest free period on balance transfers to new customers.

That Act would further restrict the Fed's 13 (3) lending operations by requiring that they be approved by at least two - thirds of the FOMC (as opposed to the present 5 - member requirement); by disallowing the use of equity as collateral for 13 (3) loans; by requiring that loans be approved not only by the Federal Reserve Board but by all Federal banking regulators having jurisdiction over the prospective borrowers; and by allowing emergency lending to be extended beyond a term of 30 days only by means of a joint resolution approved by Congress.

It focuses on the plight of Arrietty, a young woman who is one in a long line of little people known as «borrowers», as she timidly navigates her way through this big, and mean big, scary world.

«Like all great books for the young, The Borrowers can be read as an enthralling story of adventure,» writes one reviewer on Amazon, «but also contains many layers of meaning...»

As was mentioned earlier, unsecured personal loans are credit - based, meaning that past credit performance of a prospective borrower is the most important metric used by lenders.

Borrowers have to understand that the term «no cash» does not mean the same thing as «no - cost.»

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.

A very good credit score will mean that the borrower may be able to go to a regular bank such as RBC or BMO, this would also have the lowest rate of interest.

As used in this paragraph, a «Covered Borrower» means any person who, at the time such person becomes obligated on a loan transaction or establishes an account for consumer credit, satisfies the requirements under any one or more of the following classifications, or is otherwise under applicable laws deemed to be a «Covered Borrower» under the Military Lending Act, 10 U.S. Code Section 987: (a) An active duty member of the Army, Navy, Marine Corps, Air Force or Coast Guard, or a person serving on active Guard and Reserve duty (a person described in this clause (a) of the definition of «Covered Borrower» is hereinafter referred to as a «Service Member»); or (b) Any of the following persons, relative to a Service Member: (1) The spouse; (2) A child under the age of 21; or (3) If dependent on the Service Member for more than one half of such person's support, any one or more of the following persons: (i) A child under the age of 23 enrolled in a full time course of study at an institution of higher learning; (ii) A child of any age incapable of self support due to a mental or physical incapacity that occurred before attaining age 23 while such person was dependent on the Service Member; (iii) Any unmarried person placed in legal custody of the Service Member who resides with such Service Member unless separated by military service or to receive institutional care or under other circumstances covered by Regulation; or (iv) A parent or parent - in - law residing in the Service Member's householAs used in this paragraph, a «Covered Borrower» means any person who, at the time such person becomes obligated on a loan transaction or establishes an account for consumer credit, satisfies the requirements under any one or more of the following classifications, or is otherwise under applicable laws deemed to be a «Covered Borrower» under the Military Lending Act, 10 U.S. Code Section 987: (a) An active duty member of the Army, Navy, Marine Corps, Air Force or Coast Guard, or a person serving on active Guard and Reserve duty (a person described in this clause (a) of the definition of «Covered Borrower» is hereinafter referred to as a «Service Member»); or (b) Any of the following persons, relative to a Service Member: (1) The spouse; (2) A child under the age of 21; or (3) If dependent on the Service Member for more than one half of such person's support, any one or more of the following persons: (i) A child under the age of 23 enrolled in a full time course of study at an institution of higher learning; (ii) A child of any age incapable of self support due to a mental or physical incapacity that occurred before attaining age 23 while such person was dependent on the Service Member; (iii) Any unmarried person placed in legal custody of the Service Member who resides with such Service Member unless separated by military service or to receive institutional care or under other circumstances covered by Regulation; or (iv) A parent or parent - in - law residing in the Service Member's householas a «Service Member»); or (b) Any of the following persons, relative to a Service Member: (1) The spouse; (2) A child under the age of 21; or (3) If dependent on the Service Member for more than one half of such person's support, any one or more of the following persons: (i) A child under the age of 23 enrolled in a full time course of study at an institution of higher learning; (ii) A child of any age incapable of self support due to a mental or physical incapacity that occurred before attaining age 23 while such person was dependent on the Service Member; (iii) Any unmarried person placed in legal custody of the Service Member who resides with such Service Member unless separated by military service or to receive institutional care or under other circumstances covered by Regulation; or (iv) A parent or parent - in - law residing in the Service Member's household.

Borrowers with less equity in their homes are seen as bigger risks, meaning that they'll pay higher interest rates and insurance costs.

As a borrower, it's important to understand what your debt - to - income ratio means, how to calculate it and how to improve it.

The FHA loan program started out as a mutual insurance plan, meaning that borrowers would effectively pocket any profits made from the program.

On the other hand, this means that as a borrower you may rack up debt that then continues to expand because of interest rates that are much higher than normal.

As you can imagine, their willingness to take on borrowers with less - than - perfect credit scores means that APRs for LoanMe personal loans are extremely high — into the triple digits in many cases.

This means that as the borrower you are not required to put up collateral in order to insure the lender that you can repay the loan.

In comparison to conventional mortgages, FHA loans still remain competitive as it often results in fewer pricing hits during a cash out transaction — meaning lower monthly mortgage payments for borrowers.

Since a mortgage loan is meant to suit your needs as an individual borrower, lenders should be willing to accommodate you to some extent.

These regulations and rules are meant to encourage borrowers to use this great financial tool as part of an intelligent retirement planning strategy, which in turn solidifies the overall strength of the reverse mortgage loan product.

It's amazing to me but we've actually had homeowners calling in lately after receiving quotes as much at three quarters of a percent higher in rate and some with origination fee above what we can do for them and then they tell me that the other lender told them that either we were going to «make it up in other fees» or other cautionary comments meant to scare the borrowers into staying with them at a higher rate.

This means that even a small 1 % increase in long - term rates could result in at least a 20 % reduction in the amount of loan proceeds available to a borrower, equating to tens of thousands of dollars LESS of home equity borrowers can access as rates rise.

This means that the loan is approved — so long as the borrower provides additional, clarifying information.

However, the specific repayment terms are determined by the state laws as well as the lenders which mean that not all borrowers will be eligible for the 72 months maximum term.

This means that borrowers who may need a way to roll their existing HELOC's that enter the repayment period in the next 3 years may not be able to find a loan for which they can qualify and now are faced with the higher payments as their current HELOC is reset.

To you, as a borrower, that means that once qualified, you can get the borrowed money transferred to your bank account as fast as the next business day.

Many consider a payday loan as «predatory,» meaning it is meant to make money for the lender, not actually help the borrower.

That means, for instance, if a borrower's loan term is 14 days long and the fee from the lender is calculated as an annual percentage rate, it amounts to 455 percent APR..

Most lenders require funds used as a down payment to be seasoned, meaning the money has been in the borrower's account for a period of time, and not a recent loan or gift.

Having bad credit means that you are less reliable as a borrower and therefore you will either receive few loan offers, high interest rates, or low principle borrowing amounts.

It is also good news for borrowers who are planning to buy a home as it will mean putting forth a smaller amount as down payment.

Most people — including me — think of credit card debt as «unsecured,» meaning no physical object is subject to forfeiture if the borrower defaults on the debt.

Like their name implies, bridge loans are meant to «bridge the gap» until a borrower can get more permanent financing, such as a mortgage or term loan.

This means borrowers can often make a down payment as low as 3 %.

That means prospective borrowers will need to meet the same credit, debt - to - income, residual income and other requirements as a veteran purchasing an existing home.

The FHA also accepts an inheritance or a gift as a down payment, making this type of loan one of the best options for many borrowers with bad credit and limited financial means who would like to get a home loan.

USDA home loans are meant to encourage homeownership in non-urban areas of the US, and allow borrowers to enter mortgages with no money down as long as the property is located within a qualified area.

Conversely, that means the home buyer / borrower can make a down payment as low as 3 % on such a loan.