Sentences with phrase «to approve one's loan application»
The phrase "to approve one's loan application" means that a person's request for a loan has been accepted and will be given to them. Full definition
A lender will likely approve a loan application if the loan makes sense and the borrower is likely to repay.
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There are however other financial institutions willing to approve loan applications for people with bad credit.
Finally, be prepared to approach other lenders if your bank does not approve your loan application.
A lender will likely approve a loan application if the loan makes sense and the borrower is likely to repay.
Lenders are also approving loan applications at the highest rates since 2011, with 77 percent of applications for loans to purchase a home approved — compare that to just 59 percent in 2012.
Most traditional lenders will want to see your credit report before they will consider approving a loan application.
However, banks do not always approve your loan application and may not offer personal loans for people with bad credit.
Our personal loan lenders are waiting to approve your loan application today.
Sometimes consumers need to borrow money really quickly and they can't wait until one of traditional loan lenders approves their loan application.
Finally, be prepared to approach other lenders if your bank does not approve your loan application.
While it can take several days, weeks, or even longer to get approved for a mortgage, our hard money lenders in Rochester can approve your loan application in a mere matter of minutes.
A mortgage lender will want to know a lot about the borrower before approving a loan application, and justifiably so.
Developmental lending as practiced by IBC involves providing financial services (primarily loans) to aboriginal people who, for a variety of cultural and / or financial reasons, are alienated by mainstream lending institutions; approving loan applications on the basis of typical financial considerations while taking into account the potential for positive social or community outcomes; and evaluating social outcomes resulting from the loan portfolio over the long term.
Most borrowers that have bad credit get so excited that some institution approved their loan application that they fail to read and understand important contract terms, often overpaying for the lending services.
Each lender has its own underwriting team that works to approve loan applications based off a pre-set foundation of lending criteria.
Approved loan applications with small limits while forwarded loan applications with large amounts to management for consent
Under the new policies, the FHA can approve loan applications for condos in projects that have as much as half of their space devoted to commercial use, up from 25 percent before the change.
The vast majority of mortgage lenders attempt to approve a loan application if at all prudently possible, but to approve a loan that will become delinquent serves no one's best interest.
Instead the study found the opposite, showing banks are in fact more likely to approve loan applications to those more enthusiastic and optimistic.
The bank, credit union, or other lender, you may be working with decides whether or not to approve loan applications.
Because the SBA doesn't act as a direct lender, it's the banks and other participating lenders who decide whether or not to approve a loan application.
Many lenders won't offer debt consolidations loans for people with bad credit, but they might approve your loan application if you have a co-applicant with good credit.
Why do mortgage lenders take so long to process and approve loan applications?»
** An approved loan application is required for an overdraft protection line of credit.
Private Lenders concentrate on the appraised value of the house and value of existing debts when deciding whether or not to approve loan applications.
In fact, some lenders use this number to decide if they will approve a loan application.
The time frame may vary based on the length of time needed to approve the loan application and complete other parts of the process, such as the home appraisal and title.
In short, you want to make it easy for lenders to approve your loan application, and you can do this by having good or improving personal credit, growing your sales and revenue and showing profitability.
* An approved loan application is required for overdraft protection line of credit.
The impostor may first forward paperwork indicating that they have approved your loan application.
Because the SBA doesn't act as a direct lender, it's the banks and other participating lenders who decide whether or not to approve a loan application.
If you are close to your balance on your credit cards, leave ample time to pay down your debt so that the lenders are more likely to approve your loan applications.
Banks need people to have a high credit score more than 600 points in order to approve loan applications.
While the VA does not require a minimum credit score before you can recieve a VA home loan, private funder / investors will still require you to have an acceptable credit record before they approve your loan application.
That demand has led to a new breed of lender that accepts a risk but will charge a higher interest rate for approving loan applications.
To make a decision — whether to approve your loan application or to decline it the lender considers your credit report obtained from special agencies.
This estimate does not necessarily mean that the lender has approved your loan application, so don't get too excited!
There are several factors that lenders consider before deciding whether or not to approve a loan application.
Moreover, because you have concrete collateral, lenders are more likely to approve your loan application.
Here, the lender can get the information required to approve your loan application.
While it is the most important factor, some lenders consider credit score and employment alongside LTV in order to approve loan applications.
This number should not exceed 85 % for private lenders to approve a loan application.
If said down payment is less than 5 %, it wouldn't necessarily reduce the funding fee — but it just may turn that denied loan application into an approved loan application.
This information is then used to create «Credit Information Reports» (CIR) and Credit Scores which are provided to credit institutions in order to help evaluate and approve loan applications.
You probably won't qualify for super-prime lenders, such as SoFi or LightStream but most lenders will approve your loan application.
The majority of lenders will expect you to have a salaried job, and require a monthly budget, detailing all your income and outgoing, which this helps them to decide whether to approve your loan application.
Axis Bank has made my personal loan process very convenient and they approved my loan application instantly.