Sentences with phrase «specific loan or mortgage»

Since a decreasing term plan is bought to cover a specific loan or mortgage, you should ideally buy it for a term equal to the loan repayment term.

There comes a time in every person's life when their credit score may not be as squeaky clean as they would like and perhaps several late payments to specific loan or mortgage contracts.

Not exact matches

Life expectancy and retirement aside, if you're purchasing a life insurance policy to protect a specific interest — such as a business loan or mortgage — you may also need to think about the potential duration of that need when considering your options.

Mortgage Research Center, LLC does not endorse, recommend, or steer consumers to any specific loan product displayed on the website, nor do we guarantee approval on any loan product.

Get pre-approved for an FHA loan or complete your FHA mortgage paperwork and get approved for a specific FHA loan amount.

Furthermore, because USDA home loans do not have a specific loan size limitation, home buyers can theoretically borrow more money with a USDA mortgage than via conventional, VA or FHA routes.

While mortgages, car loans and student loans must be used for a specific purpose, personal loans can be borrowed for debt consolidation, day - to - day living expenses, vacations or credit building, among other things.

While car loans and mortgages are used to finance specific purchases, personal loans can be used for a variety of purposes, including debt consolidation, building credit, or funding everyday expenses.

(A) The term and principal amount of the loan; (B) An explanation of the type of mortgage loan being offered; (C) The rate of interest that will apply to the loan and, if the rate is subject to change, or is a variable rate, or is subject to final determination at a future date based on some objective standard, a specific statement of those facts; (D) The points and all fees, if any, to be paid by the borrower or the seller, or both; and (E) The term during which the financing agreement remains in effect.

If you apply for an auto loan or home mortgage, the lender is going to review your credit history to see if you have had any similar loans in the past and request an industry - specific credit score to determine the interest rate you qualify for.

The mortgage rates above may change on a regular basis and rely on specific assumptions about the number of discount points or origination fees paid on the VA loan.

Note that it's the «specific purchase» part that is relevant here, not the fact that it is a mortgage or car loan etc..

If you take out a personal loan, rather than a mortgage or car loan or hire - purchase agreement or other loan that's for making a specific purchase, then you can do whatever you want with the money.

If you fall into any of the above categories or are curious about state - specific information regarding reverse mortgages and the requirements of getting approved, continue reading for more loan information.

Choosing the best mortgage lender in Arizona depends on the type of home loan that fits your priorities, including whether you want in - person services or a specific loan product.

If you have specific questions about the underwriting process or how your application file will be handled, be sure to ask your mortgage broker or loan officer.

As you evaluate this financing option consider the following advantages and disadvantages of reverse mortgage before deciding whether or not a reverse mortgage loan will meet your specific financial goals and needs.

In addition to the other types of FHA loan guidelines that pertain to specific types of purchases, there is also the FHA Energy Efficient Mortgage, also known as EEM, providing mortgage insurance to buy or refinance a residence and include the cost of energy - saving uMortgage, also known as EEM, providing mortgage insurance to buy or refinance a residence and include the cost of energy - saving umortgage insurance to buy or refinance a residence and include the cost of energy - saving upgrades.

Unlike a mortgage or car loan — which are examples of installment credit — or a credit card, revolving credit doesn't have to be earmarked for a specific purpose upfront.

EXAMPLE of Buying a fourplex with an FHA loan 3.5 % down up to $ 1,200,000 on 4 units (depends on county and state limits); $ 1.2 M purchase price = 3.5 % down (or $ 42,000) ** Primary Residence Loan Amount of $ 1,158,000 w / MIP 30 Yr Fixed Rate of 3.25 % with Payments of $ 5,040 / month Rental Income per month = $ 4,500 on other 3 units Mortgage Payment per month = $ 5,040 Effective P + I = $ 540 IMPORTANT: For FHA 3 - 4 unit financing, there is a self - sufficiency test the property must pass for a specific loan amoloan 3.5 % down up to $ 1,200,000 on 4 units (depends on county and state limits); $ 1.2 M purchase price = 3.5 % down (or $ 42,000) ** Primary Residence Loan Amount of $ 1,158,000 w / MIP 30 Yr Fixed Rate of 3.25 % with Payments of $ 5,040 / month Rental Income per month = $ 4,500 on other 3 units Mortgage Payment per month = $ 5,040 Effective P + I = $ 540 IMPORTANT: For FHA 3 - 4 unit financing, there is a self - sufficiency test the property must pass for a specific loan amoLoan Amount of $ 1,158,000 w / MIP 30 Yr Fixed Rate of 3.25 % with Payments of $ 5,040 / month Rental Income per month = $ 4,500 on other 3 units Mortgage Payment per month = $ 5,040 Effective P + I = $ 540 IMPORTANT: For FHA 3 - 4 unit financing, there is a self - sufficiency test the property must pass for a specific loan amoloan amount.

A closed mortgage, also known as a long - term mortgage, fixed mortgage or closed - end mortgage, is a type of home loan where the borrower agrees to follow specific repayment rules.

Specific situations: If you have major expenses that will end, such as paying off a mortgage, business loan or children's college, then this flexible policy might be a good option for you.

A rate lock, also called a lock - in or rate commitment, is a lender's promise to issue a mortgage to you at a certain interest rate and number of points for a specific amount of time while your loan application is being processed.

Reverse mortgages are different from standard or forward mortgages in that you don't apply for a set «loan amount», but you receive a benefit based on the HUD calculator and your specific circumstances as they relate to the program parameters.

On the other hand, mortgages or home loans, auto loans, and the like are considered secured debt, meaning there is a specific piece of property that can be collected if you fail to pay your lender.

Unlike car loans, mortgages or student loans which are required to be spent on specific purchases, personal loans are discretionary funds.

Unless the mortgage or loan is backed / insured by the government, each lender has the right to pick which specific FICO ® scores must be used.

A mortgage is a contract stipulating a specific property, typically a residence or building, as collateral for a loan.

If quantitative easing is successful in reducing the overall government debt yield curve or injecting money into the system, but there is no trickle down effect to corporate bonds for example, then the central bank can target specific maturities and specific types of debt instruments (corporate bonds OR auto loans, mortgage backed securites, etc.) to achieve the desired effecor injecting money into the system, but there is no trickle down effect to corporate bonds for example, then the central bank can target specific maturities and specific types of debt instruments (corporate bonds OR auto loans, mortgage backed securites, etc.) to achieve the desired effecOR auto loans, mortgage backed securites, etc.) to achieve the desired effect.

Please contact the specific lender for more information regarding mortgage or loan services.

Nothing on this site contains an offer, promise or otherwise, either to make a specific home loan or that any affiliated mortgage lender or bank will extend mortgages for any purpose or on any specific terms.

Please contact us for specific rate information, mortgage loan limits or down payment requirements at 800.237.7328, extension 3864.

Your submission must be in writing and include the name of each borrower, the loan number and a description of the error you believe has occurred OR a request for specific information regarding your mortgage loan.

FICO drills deeper into financial data and helps lenders predict how you will do with specific types of loans, such as a mortgage or auto loan or credit cards.

Please contact your local Lennar community or an Eagle Home Mortgage Loan Officer for more specific details.

This includes home loans, second or third mortgages, equity lines of credit, auto loans, and financing contracts tied to a specific piece of property that may be legally repossessed by the creditor.

Actual prepaid finance charges, closing costs and monthly payment on your specific loan transaction may vary based on property type, location and down payment.These mortgage rates and terms are based on a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score.

Decreasing Term Life Insurance is aimed at covering a very specific type of expenses - your debts (usually a mortgage or other amortized loans) when the amount owed decreases from year to year.

Installment debt describes loans that you pay back over a specific term, like student loans or mortgages.

Specific situations: If you have major expenses that will end, such as paying off a mortgage, business loan or children's college, then this flexible policy might be a good option for you.

Life expectancy and retirement aside, if you're purchasing a life insurance policy to protect a specific interest — such as a business loan or mortgage — you may also need to think about the potential duration of that need when considering your options.

This is useful if you want to cover only a specific debt that decreases, such as a mortgage or business loan.

The strategy with term life is to lock into a term that covers a specific event, such as the life of a loan or mortgage.

As the name suggests these plans are taken out for a given specific term and are generally bought keeping in mind a specific purpose like covering a Mortgage or a loan or a specific liability.

Mortgage Clerk • Process basic and specific loan files including FHA, VA and Conventional • Control and resolve customer / bank attorney / sales force inquiries on phone or in person • Ensure all forms and lists related to a certain product are complete • Prepare files for underwriting and closing • Prepare files for submission to MI companies • Ensure mortgage compliance • Provide advice and guidance to management aMortgage Clerk • Process basic and specific loan files including FHA, VA and Conventional • Control and resolve customer / bank attorney / sales force inquiries on phone or in person • Ensure all forms and lists related to a certain product are complete • Prepare files for underwriting and closing • Prepare files for submission to MI companies • Ensure mortgage compliance • Provide advice and guidance to management amortgage compliance • Provide advice and guidance to management and staff

For the GFE and HUD - 1 / 1A forms, if the loan term is conditioned upon a specific event in the future and the timing of that event is not known at the time the GFE is issued and the HUD - 1 is prepared, (e.g. a reverse mortgage), the loan originator may enter — Not Applicable ‖ or — N / A ‖ for the loan term.

If the creditor has less than $ 2B in assets and originates 500 or fewer first mortgages per year, loans it makes and holds in portfolio are QMs as long as the creditor has considered and verified a borrower's debt - to - income ratio (though no specific debt - to - income limit applies).

With reverse mortgage loans, the borrower's specific needs usually influence the choice of interest rate (fixed or adjustable) and the method of distribution (how and when the borrower can access their money).

Your loan officer might ask you to write a «letter of explanation» that addresses a specific question or problem, like why you had a late mortgage payment or what led to your recent short sale.

Whether you're shopping for the best rate, or trying to determine the difference between the Note Rate and APR, it definitely helps to understand what questions to ask a mortgage lender about your specific loan scenario.