Sentences with phrase «means qualified borrowers»

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

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

Not exact matches

For borrowers, this can mean lower and more flexible credit requirements to qualify for student loan refinancing.

Private student loan lenders make refinancing available to well - qualified borrowers, which means there is a review of income, credit history and score, and other factors that show the borrower is a low risk to the lender.

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

This means borrowers who fall well below that range could have trouble qualifying for a home loan in 2015.

SoFi personal loans are meant for qualified borrowers and therefore carry less risk than other loans aimed at people with lower credit scores.

This means, according to Freddie, increased availability of mortgage insurance for qualified borrowers with limited down payment resources.

These numbers mean that a borrower who qualified for a $ 200,000 loan a month ago (or any other amount) may no longer qualify for such financing.

First, a «sub-prime hard money» means that the borrower could not qualify for a lower - cost FHA loan to purchase the property.

In comparison, the typical FHA borrower had a credit score of 697 in August — meaning more than half of all FHA borrowers would not qualify for the private product.

However, the usual conflict will also arise from this situation: A more conservative standard will mean some borrowers will no longer qualify for an FHA loan refinance.

That means many borrowers who didn't have enough equity in their homes to qualify for a second mortgage have a better chance of being approved.

This means that a 68 year old borrower with a $ 679,650 home or greater can lock in a credit line of approximately $ 350,000 (depending on what happens to interest rates and margins since they also will affect the amounts for which borrowers will qualify) instead of the approximately $ 250,000 that they would go back to under the limits prior to the Stimulus Bill.

This means that borrowers will need to look to banks and credit unions, and if they can not qualify at these institutions, they'll need to check out specialty commercial mortgage providers or hard money lenders.

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.

That means borrowers must be able to qualify for their mortgage using a higher interest rate than they will actually be paying on their mortgage.

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.

This means that we're able to qualify borrowers who would otherwise be shut down by the strict, unrealistic guidelines of conventional lenders.

For some borrowers, their financial situation or credit score just won't qualify them for mortgage financing from a bank or credit union — but that doesn't mean they're out of options.

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.

An example of what this means, a borrower with an annual income of $ 100,000 would have qualified for a mortgage of $ 600,000 based on the old rules, however once the new policy is in effect, the qualified mortgage amount drops down to $ 450,000, which reduces the affordability by $ 150,000 (these numbers are approximate only).

While most borrowers must have a debt - to - income ratio below 43 % to qualify for a loan, a no ratio loan means that lenders won't take your DTI into account.

While this means they can offer competitive rates, it also means that borrowers with average or below average credit will likely not qualify.

Refinancing your loans to Splash Financial means you can't qualify for Public Student Loan Forgiveness (an option for many medical professionals who work in not - for - profit hospitals), but Splash offers some peace of mind for borrowers.

But this statistic is misleading, because a lot of borrowers think this means qualifying for some type of student loan forgiveness program.

Most mortgage banks qualify borrowers through a variety of means including the use of the mortgage version of the FICO score.

Since then all FHA loans — like virtually all mortgages made in the private sector — have been «qualified assumptions» meaning that the lender must approve any replacement borrower.

If you want to qualify for the best rate at Best Egg, which is 5.99 %, the lender states you'll need a credit score of 700 and annual income of $ 100,000, meaning that borrowers with lower income or credit scores will still be able to qualify for a loan.

In most cases, borrowers will display attractive rates in their campaigns but this doesn't mean everyone will qualify to get that rate.

Borrowers will need to qualify, however, which may mean providing proof of steady income and a strong credit history.

Tight competition between mortgage companies for a smaller pool of applicants could mean that lenders will loosen their standards a little and make it easier for some borrowers to qualify for a loan.

What this means is that the borrower will qualify for more when purchasing a new property or refinancing an existing property.

Student loans are designed to cover qualified educational expenses, but that doesn't necessarily mean that borrowers always use them this way.

In practice, this means that the number of borrowers who intend to apply for forgiveness, which is typically granted after 10 years of employment at qualifying nonprofit organizations or government agencies, could be much greater.

This means borrowers with significant negative equity could still qualify for a HARP refinance in 2015, as long as they meet all other program requirements.

Many consumer advocates believe that the Brunner test sets too high a bar and means that most student loan borrowers don't qualify for relief.

Eligible borrowers who use an FHA loan can qualify for up to 96.5 % financing, which means making an investment of 3.5 %.

This does not mean that a borrower with a low current housing payment will not be able to qualify for a mortgage, only that they may be guided into a fixed - rate mortgage (FRM) that carries no risk of payment shock, or a more conservative ARM with a lifetime cap that prevents payment shock.

So, any change in the regulations governing mortgage loan insurance could mean an increase in costs for banks, which is passed on to home buyers, or banks could simply make it harder for borrowers to qualify for mortgages, as they look to reduce their exposure to riskier mortgages.

Changes in the way lenders evaluate applications also mean borrowers who have been turned away before may now qualify for a VA refinancing or be approved to borrow more than before.

Still, the changes in the rules mean an estimated 10 percent - 25 percent of potential borrowers will no longer qualify for reverse mortgages, Wills says.

«This means that qualified borrowers are getting a loan that they are very likely to be able to repay, but some borrowers may wind up paying much more for their mortgage, or not get a loan at all due to the tougher standards.

An EEM allows lenders to extend borrowers» debt - to - income qualifying ratio, which means that they may be able to take out a larger home loan than would be allowed with a traditional mortgage.

This means better rates for you, the qualified Borrower, but it also means added chaos & confusion in the loan shopping process.

The guidelines — or «stress test» — issued by the Office of the Superintendent of Financial Institutions (OSFI) on October 17, 2017, will mean that lower - risk home buyers (those with more than 20 per cent down on their new home) will join higher - risk borrowers in having to qualify for a mortgage at a higher interest rate than the one at which they will actually borrow.

This means that more borrowers on the cusp of getting a loan (e.g., millennial, first - time, and lower - to moderate - income borrowers carrying more debt) could potentially qualify for a mortgage backed by Fannie.»

To be fair, this does not mean that every borrower that qualifies for a USDA rural housing mortgage can simply buy the most expensive home in their area.

Borrowers who can not qualify for a conventional loan have no choice, they must use an FHA, which means that step 1 is to determine whether or not you qualify for both.