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Lenders are the banks and finance companies who contract loans for the purchase of vehicles, homes, and other property.
Borrowers are those who contract for the loans so they may purchase vehicles, homes, and other property.
Although you did not ask, dealerships and realtors are those who act as the agents of the lenders to put borrowers in debt.
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∙ 13y ago
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What advantages and disadvantages do commercial banks gain from maintaining lenders and borrowers?
Lenders (depositors) are an essential source of any bank's main tool i.e the fund. The borrowers provide the profit (interest) which makes the whole system revolve.
Do lenders have stringent guidelines when it comes to borrowers with bad credit?
People with bad credit have a hard time getting a loan. Lenders want to ensure they will be paid back.
Specified amounts of money borrowers must pay lenders for the use of money or borrowed funds is are known as?
interest
What is conventional uninsured mortgage?
Candidates for conventional, uninsured loans are considered prime borrowers. They have at least a 20 percent down payment, good credit and enough income to make mortgage lenders feel safe. Lenders require insurance on loans when borrowers lack sufficient money or credit to offset the risk of financing a home.
Will lenders allow someone to remortgage their home if the credit is bad?
There are lenders who specifically lend to borrowers with blemished credit but the homeowner will typically pay higher interest rates and fees. Borrowers should attempt to improve their credit before trying to refinance by lowering debt and clearing up any inaccuracies that may appear on their credit report.
What is the relationship between lenders and borrowers?
Lenders have something (usually money) that the borrowers want; and the Borrowers have something that the Lenders want (their money back).
What advantages and disadvantages do commercial banks gain from maintaining lenders and borrowers?
Lenders (depositors) are an essential source of any bank's main tool i.e the fund. The borrowers provide the profit (interest) which makes the whole system revolve.
What do you called a charge borrowers pay to lenders?
Interest, late fee, returned check charge...
Do lenders have stringent guidelines when it comes to borrowers with bad credit?
People with bad credit have a hard time getting a loan. Lenders want to ensure they will be paid back.
When financial institutions lend money they charge borrowers?
The banks or lenders charge interest. The amount depends on your credit.
Specified amounts of money borrowers must pay lenders for the use of money or borrowed funds is are known as?
interest
Getting a Low Interest Rate for an Auto Loan?
Interest rates for auto loans will vary from lender to lender so savvy borrowers should check with multiple lenders before choosing who to borrow from. Lenders base the interests rates they offer their borrowers on factors such as the borrowers' credit report score, income and collateral. Borrowers who are clearly in a position to afford the vehicles they are purchasing and who have credit history that puts them in good standing will be able to secure low interest rates for their auto loans, especially when they carefully consider the rates offered by different lenders before selecting their loan provider.
Why borrowers considered as the slaves of the lenders?
Because - the borrower is 'in debt' to the lender until the borrower either returns the object (or money) borrowed.
What is conventional uninsured mortgage?
Candidates for conventional, uninsured loans are considered prime borrowers. They have at least a 20 percent down payment, good credit and enough income to make mortgage lenders feel safe. Lenders require insurance on loans when borrowers lack sufficient money or credit to offset the risk of financing a home.
Will lenders allow someone to remortgage their home if the credit is bad?
There are lenders who specifically lend to borrowers with blemished credit but the homeowner will typically pay higher interest rates and fees. Borrowers should attempt to improve their credit before trying to refinance by lowering debt and clearing up any inaccuracies that may appear on their credit report.
How much interest is paid to cash advance lenders?
Cash advance lenders charge outrageous interest rates to borrowers, ranging anywhere from thirty percent to three-hundred percent. This is why it is advised never to borrow from a cash advance lender.
What are the difficulties in taking personal loan?
Difficulties in taking personal loans? Some lenders require their borrowers to make $1,000 or more every 30 days.
