A secondary market should free up lender balance sheets so they can either enter the business or - for those already lending on mobile homes -
originate additional loans.
Not exact matches
While prepayment fees are meant to prevent you from paying off
additional principal, an early payoff fee is a fee paid to the
originating lender for
loans that have only been on the books a few months.
You need to save 10 % in cash for a down payment, and the lender will
originate a second
loan for an
additional 10 %.
There may be
additional fees charged for
originating these
loans.
An
additional calculation would consider that college costs increase each year, and total
loans originated would increase each year as well.
If you request a
loan, you are also providing information to the potential
originating bank, and
additional information may be provided to that bank after your
loan originates.