Sentences with phrase «qualified borrowers»

The phrase "qualified borrowers" refers to individuals or businesses who meet certain criteria and are considered eligible to receive a loan or credit from a lender. They have shown the necessary financial stability, income, and creditworthiness that makes them suitable and trustworthy to be granted the loan. Full definition
Check out our monthly 2nd mortgage specials with low rate incentives for selected second mortgage loans for qualified borrowers with reduced costs and free appraisal offers for a limited time.
While it does allow qualified borrowers who are stuck in variable - rate mortgages to refinance into affordable, fixed - rate mortgages, there is a trade - off known as equity sharing.
This program allows qualifying borrowers to reduce the cash required upfront by rolling some of their costs into the rate.
Guaranteed Rate is a good starting point for highly qualified borrowers, with competitive mortgage rates and a strong online platform.
If there is, in fact, some degree of easing with credit score standards, it could create a larger pool of qualified borrowers in 2014.
If there is, in fact, some degree of easing with credit score standards, it could create a larger pool of qualified borrowers in 2014.
Just remember that the best rates go to the most qualified borrowers with excellent credit scores.
A portion of the anticipated rental income is considered when qualifying a borrower for a loan on a home of up to four units.
Here's what a well - qualified borrower looks like today: Has a credit score above 600.
It's important to note, though, that these borrowers will face higher interest rates than more qualified borrowers.
This way, they do not qualify a borrower for more loan than they can afford throughout the year.
But what was designed to help more first - time homebuyers and other qualified borrowers jump into the market has struggled to get off the ground due to lender fears and even borrower misconceptions.
Our data - driven evaluation of your full financial profile gives us the ability to offer qualified borrowers lower, more personalized rates than traditional lenders can.
On the contrary, a marginally qualified borrower (lower credit score, higher debt ratio, etc.) would likely pay more in interest.
Higher living expenses, health care, and education costs coupled with diminishing returns on savings and investments are making it more challenging for otherwise qualified borrowers to save 20 % down.
This program focuses on helping qualified borrowers purchase residential properties they'll live in as a full - time home.
This program focuses on helping qualified borrowers purchase residential properties they'll live in as a full - time home.
When there were no more reasonably qualified borrowers left, the industry created alternative mortgage products to serve the unqualified borrowers.
Private student loans are made available to qualified borrowers from a variety of private lenders, including banks, credit unions, and online lending platforms.
The common element is that they work with less qualified borrowers than banks.
Many qualified borrowers will find the terms favorable over similar products, particularly other loans that allow low down payments.
This means qualified borrowers could buy a home with as little as 3 % down at the time of purchase.
This will also qualify the borrower for a half - point reduction following the year's interest rate.
We help people find companies that can finance qualified borrowers up to $ 500,000 with a quick second mortgage.
Additional money above $ 10,000 is available for qualified borrowers depending upon the policy of your lender.
Upon looking deeper into mortgage services and how bank qualify borrowers.
This approach should allow lenders to offer sustainable mortgage credit to a great number of qualified borrowers without having to risk unreasonable and overly punitive litigation and penalties.
Many lenders are still qualifying borrowers with an above 5 % interest rate.
When taking out a private loan, the interest rate will depend upon the borrower's creditworthiness, including their credit score, with well - qualified borrowers receiving the more competitive interest rates.
The good news is that these loans can enable qualified borrowers to accomplish any of those goals.
In other words, lenders will now be obliged to do what they should have been doing all along, i.e. actually qualifying borrowers before selling them a mortgage.
This kind of rigidity will keep qualified borrowers out of the market and delay any significant recovery in the housing market.
How they work: No down payment is required from qualified borrowers buying primary residences.
In some cases, this may help less - qualified borrowers find funding.
The reason, it seems, is that many highly qualified borrowers go to their personal banking institutions for jumbo loans instead.
But the dull reality is that as rates rise — even a little — the number of qualified borrowers falls.
Even if you're pre-approved, the lender must now go through their full underwriting process to verify you as a truly qualified borrower.
Guaranteed Rate takes pride in its low loan - default rate, which comes from carefully qualifying borrowers.
Loans secured by savings accounts qualify borrowers for lower rates.
Our lenders offer many cheap home loans to qualified borrowers nationally.
The maximum loan amounts available to qualified borrowers vary by state.
Qualified borrowers stand the best chance at reducing their interest rate through this method, but keep in mind that you'll be giving up all federal benefits.
This is an example of a well - qualified borrower failing to meet an overly rigid requirement.
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