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Question 1

What exactly is hard money?

Answer

A hard money loans is a loan that's backed by assets like real estate. These loans can be used to fund short-term projects such as construction , fixes and flips. The lenders who offer hard money typically charge higher interest rates than traditional banks, but they are also able to approve loans more quickly. Bad Credit Loans Wt Loss Surgery.

Question 2

What are discount points on the loan agreement?

Answer

A discount point is the amount paid by a borrower to the lender to get a lower interest rate. One point equals 1 percent of the amount of loan. If you take out $100,000 and pay two point the lender is liable to you $2,000. The borrower who wants to lock in a low interest rate on their loans will pay points. The issue is that points can increase the total cost of the loan. If the borrower believes they'll be saving more during the duration of the loan than the points they have to pay, they ought to not pay more than points. credit loans wt loss surgery.

Question 3

How can PMI be removed from an FHA loan?

Answer

There are several methods to eliminate PMI in the FHA loan. One way is to make sure the equity of your home is high enough. Another option is to hold off until the balance of the loan falls below 78% of the home's value. There is also a program called "Mortgagee release" that allows borrowers to get their PMI released after the mortgage balance has been paid up to the amount of 80%. loans wt loss surgery.

Question 4

What is a Heloc loan?

Answer

A HELOC loan, also known as a line credit for home equity is one type of loan that allows the borrower to take out an revolving loan. This loan can be used to pay for major expenses like home repairs, renovations or education expenses as well as medical bills. The amount that could usually be borrowed is usually dependent on the equity in the borrower's home. HELOC loans typically are lower in interest rates than traditional or personal loans. However, the interest rate on a HELOC loan is typically higher than the interest rate on a credit card. Bad Credit Loans Wt Loss Surgery.

Question 5

How much do i qualify for a va loan?

Answer

The Department of Veterans Affairs (VA) does not have the maximum loan amount. Instead, it uses the conforming loan limit that is set by Fannie Mac and Fannie Mae to determine the maximum amount you can take out. The limits are based on the location of the home. The VA will back any loan above these limitations. If you'd like to take out more than the amount guaranteed by the guarantee, you'll have to put down some extra money yourself. You can find out what you're eligible for with our no-cost online calculator for VA Loan Limits. credit loans wt loss surgery.

Question 6

What exactly is an "loan forbearance"?

Answer

A bebearance on a loan is a situation that allows the lender to agree with the borrower that they will stop making payments. The borrower is able to pay back payment due to lateness or locate a new source of income. The loan's interest will continue accruing during the forbearance period, which could last for as long as one-year. A lender might charge a fee for bearance generally an amount based on the remaining balance on the loan. loans wt loss surgery.

Question 7

What collateral is available to obtain a personal mortgage?

Answer

The collateral for a personal loan can be many different assets such as cars or homes. Stocks and bonds are also choices. When you are applying for a personal loan, it is essential to speak with your lender regarding the collateral options available. Certain lenders might be more flexible about what kind of collateral is acceptable. It is best for all parties to engage in an openand honest discussion with lenders regarding the options for collateral prior to submitting an application. This will ensure that all parties are on the same page and avoid any surprises down the road. Bad Credit Loans Wt Loss Surgery.

Question 8

What are grad plus loans?

Answer

Grad PLUS loans are federal student loans that are available to graduate and professional students. They are like Stafford Loans, but have no limits on aggregate or annual loans. The loans are available to students who have exhausted their eligibility for Stafford Loans and students who are not eligible to receive Stafford Loans. You must be enrolled in graduate or professional programs, have good credit and submit the application form to apply for Federal Student Aid. For more information on Grad PLUS loans, visit the U.S. Department of Education's website: https://studentaid.ed.gov/sa/types/loans/plus credit loans wt loss surgery.

Question 9

What exactly is a loan underwriter?

Answer

The loan underwriter verifies that the prospective borrower meets all requirements for an loan. Before making a decision the underwriter must consider factors like credit scores and debt-to-income ratios and employment history. If they determine that the prospective borrower is not suitable or is too risky, they'll refuse the loan. If they find that the applicant is qualified, low risk and meets all requirements, they will approve the loan. loans wt loss surgery.

Question 10

Who is a micro lender?

Answer

A micro lender is a financial institution that lends money to small businesses or small-sized businesses, usually with a limit of less than US$50,000. These micro lenders are often available to entrepreneurs and people with low incomes, who might not be able to get conventional bank loans. Micro lenders typically charge high rates of interest and charges, as they are taking on greater risk by lending to those who might not be able to repay the loan. They are able to help entrepreneurs begin their business and then grow. Bad Credit Loans Wt Loss Surgery.