Sentences with phrase «which protects the lender in case»

Because mortgages with smaller down payments pose a greater risk for the lender, they require the borrower to pay for mortgage insurance, which protects the lender in case of default.

Typically, if you put down less than 20 % on a property, your lender will also require you to pay for private mortgage insurance (PMI) which protects the lender in case you default.

FHA loans are designed for people like you: With FHA backing, which protects the lender in case you default on your mortgage, lenders can broaden their credit standards.

Private Mortgage Insurance (PMI) If you apply for a conventional loan and your down payment is below 20 percent, your lender will require you to buy PMI, which protects the lender in case you end up in foreclosure.

Not exact matches

The UCC - 1 protects the interests of the lender in the case of borrower default or bankruptcy, in which said asset (s) would be foreclosed on, seized or sold off.

By putting down at least 20 %, you'll also avoid the need for private mortgage insurance (PMI), which is designed to protect the lender in case you default.

The UCC - 1 protects the interests of the lender in the case of borrower default or bankruptcy, in which said asset (s) would be foreclosed on, seized or sold off.

MORTGAGE DEFAULT INSURANCE A type of insurance which protects the mortgage lender in case the borrower defaults on the mortgage payments.

This fee, which is tacked onto your monthly mortgage payment, protects your lender in case you default on your loan.

Business insurance is generally not mandatory unless you have taken out a large loan for your business, in which case your lender may require you to protect your business collateral with a policy.

In some cases, if you have taken out a large business loan or a mortgage on the building in which your business is owned, your lender may require you to carry a comprehensive commercial insurance policy to protect your business for the life of the loaIn some cases, if you have taken out a large business loan or a mortgage on the building in which your business is owned, your lender may require you to carry a comprehensive commercial insurance policy to protect your business for the life of the loain which your business is owned, your lender may require you to carry a comprehensive commercial insurance policy to protect your business for the life of the loan.

Most lenders require a policy in conjunction with issuing the loan, which will protect the lender's interests in the case of a title dispute.