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What else can I help you with?
Can a home be refinanced for more than the current loan amount?
Depending on your credit score you can refinance up to 100% of the appraised value of your home. In fact, there are some lenders who will allow you to borrow up to 125% of the value, if you have a credit score about 720.
What kind of credit card features would be best for customers who think they might need to use their credit card to borrow money?
Cash Advance is the option, but charges/interest may be more expensive that directly using the credit card to directly purchase the item.
What are the advantages of jumbo home mortgages?
A jumbo home mortgage loan is one that is over the standard loan limits set by government sponsored lenders such as Freddie Mac. The biggest advantage to this type of loan is the borrower is allowed to borrow more and is able to purchase a more expensive house.
Who can obtain a unsecured bad credit loan?
If one has bad credit then one can obtain an unsecured loan from U Switch where one can compare loans as well as checking on Go Compare and the About Banking websites. If one has bad credit it can be more difficult to obtain a loan, as lenders will see one as high risk to lend to which can result in a more expensive loan.
When interest rates are high it costs less money to borrow money true or false?
False. When interest rates are high, it costs more to borrow money because lenders charge higher rates for loans. This increases the total amount that borrowers must repay over time, making borrowing more expensive. Conversely, lower interest rates typically make borrowing cheaper.
Why should you strive to maintain a good credit rating?
If you have a good credit rating, then lenders (such as banks) will be more willing to lend you money. It is possible that at some time you will wish to borrow money, for example, to buy a house.
How do I increase the Simpl credit limit?
Simpl is a credit-scoring company, not a bank. We provide lenders with the credit scores of people who borrow money from them. We don't lend money directly to consumers. The only way to increase your credit limit is to borrow more money and demonstrate that you can handle more debt responsibly. Lenders will look at your credit score, income, and debt-to-income ratio to decide how much debt they're willing to let you take on. You can improve your credit score by paying your bills on time, keeping your balances low, and not applying for too much new credit at once.
Can a home be refinanced for more than the current loan amount?
Depending on your credit score you can refinance up to 100% of the appraised value of your home. In fact, there are some lenders who will allow you to borrow up to 125% of the value, if you have a credit score about 720.
Can you have two auto loans?
Yes.==new answer==A borrower with sufficient credit can borrow as many loans as the lenders will allow. If your current lender believes you have the ability to pay back two loans, he will grant you two (or more) loans. If the first lender doesn't want to help you, ask someone else.Currently, I have a loan on my house, a line of credit on the equity to make charges on, multiple credit cards with various credit limits to borrow on, and three car loans.
What kind of credit card features would be best for customers who think they might need to use their credit card to borrow money?
Cash Advance is the option, but charges/interest may be more expensive that directly using the credit card to directly purchase the item.
What are the risks associated with borrowing from subprime mortgage lenders?
Borrowing from subprime mortgage lenders can come with higher interest rates and fees, making it more expensive to repay the loan. Additionally, there is a greater risk of default and foreclosure due to the borrower's lower credit score and financial instability. This can lead to financial hardship and damage to the borrower's credit history.
What are the advantages of jumbo home mortgages?
A jumbo home mortgage loan is one that is over the standard loan limits set by government sponsored lenders such as Freddie Mac. The biggest advantage to this type of loan is the borrower is allowed to borrow more and is able to purchase a more expensive house.
What does debit and credit mean?
Debit is when they take from your bank. A credit is money paid into your account. But the other meaning of credit is the ability to borrow money. The more money you make and the more you use your credit and pay it off, the more credit you get.
what is an effect of excessive government borrowing?
It becomes more expensive for the private sector to borrow
What an effect of excessive government borrowing?
It becomes more expensive for the private sector to borrow
You need good credit to lease a vehicle?
People with bad credit will have more difficulty leasing a vehicle. Different lenders have different criteria for what is good credit and what is bad credit.
Why is good credit history important?
Good credit history is important because it helps determine your ability to borrow money and access financial resources. Having a good credit score can lead to lower interest rates on loans, better chances of approval for credit applications, and more favorable terms when borrowing money. It also signals to lenders that you are a responsible borrower, increasing your financial opportunities.
