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A pre-approved amount of open-end credit based on a borrower's ability to pay is called a?
Wiki User
∙ 14y ago
Line of Credit
Wiki User
∙ 14y ago
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How big of a mortgage can you afford?
How much of a mortgage you can afford clearly depends upon your income level. You can apply for a mortgage and will usually be preapproved for a certain amount depending upon your credt, income and other factors.
What is the ability of a business to earn a reasonable amount of income is referred to as thefactor of?
profitability
If a car is repossessed does the loan still have to be paid off?
Yes. The car will be sold at a public auction and the borrowers will be responsible for any difference between the selling price and the loan balance plus the allowable repossession and other fees. The lender is legally required to make a reasonable attempt to get the fair market value of the vehicle, unfortunately this does not always happen and that sometimes leaves the borrowers with a substantial amount of debt to repay.
What is meaning borrower?
Borrower. A person or company that has received money from another party with the agreement that the money will be repaid. Most borrowers borrow at interest, meaning they pay a certain percentage of the principal amount to the lender as compensation for borrowing.
Does a co signer have the right to borrow against and raise the amount of your line of credit?
A cosigner can only raise a line of credit on a home mortgage if both borrowers sign. Borrower and co borrower. It cannot be done by only one.
When financial institutions lend money they charge borrowers?
The banks or lenders charge interest. The amount depends on your credit.
How big of a mortgage can you afford?
How much of a mortgage you can afford clearly depends upon your income level. You can apply for a mortgage and will usually be preapproved for a certain amount depending upon your credt, income and other factors.
Can you have worms in your swimming pool that you just openend?
no because the stuff they put in there is harmful if you don't wait a curtain amount of time but it is possiblie
What is the ability to regulate the amount of charge flowing in a circuit is called?
Resistance is the ability to regulate the amount of charge flowing in a circuit.
Federal Student Loan Payment Based on Income?
Borrowers who enter the repayment period on their student loans, but have trouble affording their payments have an option. The federal loan service allows borrowers to make payments on their student loans based on their income. Borrowers must submit records of their income to qualify for income-contingent payments. The lender will evaluate the borrowers' income and set their payment amount accordingly. Borrowers still accrue interest during the period of time that they are making income-contingent payments. However, borrowers may still save money by making these lower payments if they do so in a timely manner, thereby avoiding earning late fees or defaulting on payments.
What is the different between having a home loan preapproved and prequalified?
A preapproval on a home loan is a simple letter stating that you make enough income to purchase a certain price amount on a house. Prequalified means that you have actually qualified for the loan to buy.
How do collection agencies decide which borrowers to sue?
Collection agencies typically decide to sue borrowers as a last resort, when other attempts to collect debt have been unsuccessful. They consider factors such as the amount of debt owed, the borrower's ability to repay, and the likelihood of successfully recovering the debt through legal action. In some cases, they may also consider the age of the debt and the potential costs associated with litigation.
A person's driving ability increases as the amount of alcohol in a person's body increases True or False?
It is a false statement that a person's driving ability increases as the amount of alcohol in a person's body increases. Their driving ability actually decreases.
How does the amount of sodium and acid affect the ability of citrus fruit to conduct electricity?
yes, the amount of acid in a fruit does effect its ability to conduct electricty because it can have a higher charge than a fruit with a lower amount of acid.
What is tissue that as the ability to stretch based on amount of tension?
All tissue has the ability to stretch when placed under tension.
What is the ability to regulate the amount of charge flowing in a circuit?
Resistance
What is the ability to regulate the amount of charge flowing in a circuit is?
resistance
