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Ben Werner,
Student Newspaper Editor
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Most lenders tighten their lending policy in a downturn.
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John Fielding,
CEO
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Some lenders offer a special mortgage facility to borrowers who have negative equity to enable them to move by carrying the negative equity across to the new property.
Lenders can generate new business that meets their specific underwriting criteria at reduced acquisition costs.
Lenders often use trailing spouses as compensating factors when making mortgages to relocating buyers.
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Brian Mengel,
Civil Servant
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Most lenders are familiar with SBA’s loan programs so interested applicants should contact their local lender for assistance in the SBA loan application process.
Most lenders are required by federal and state laws and current banking regulations to obtain an appraisal for most loans secured by Real Estate.
Lenders may require additional collateral and may require an appraisal by a national appraisal firm acceptable to the lender.
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Mike Enlow,
Internet Marketer
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Mortgage lenders will rarely consider future bonuses as income unless you have been on the same job for two years and have a track record of receiving those bonuses.
Lenders who impose prepayment penalties will charge borrowers a fee if they wish to repay part or all of their loan in advance of the regular schedule.
Lenders require this type of insurance and the premium is usually included as part of the monthly mortgage payment.
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Dan Toomey,
Computer Salesman
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Lenders who operate through both wholesale and retail distribution channels quote wholesale prices well below retail prices.
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Bob Greenberg,
Congressional Candidate
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Lenders are not allowed to discriminate in any way against potential borrowers.
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