Expect higher requirements for jumbo loans

[tyrim88]

From my observation in the business sector in my clime,most large volume of loans usially go to already established firms who has proven tract record of performance over time.The financial institution would be scrambling to lend out depositors money for higher intrest rate.

 

[Akinwale701]

A jumbo loan is a hypothecary loan which exceeds the loan cap. Since these loans cannot be secured by anyone, jumbo lenders appear to have higher credit score standards than you would have to have on an adjustable loan.

The exact conditions can differ considerably between creditors and lenders and depending on your other revenue, debt and asset qualifications. But I would usually expect lenders to see loans on an investment real estate loan well into the 700s.

How about in your own country, what are the things you might consider already in higher standards? Please share your thought

I do not know the reason why I don't seem to buy the idea of loans no matter how broke I am. this may be due to how these loan apps do treat people with disdain and all anytime they take loan from them.

 

[Jumoke12]

A jumbo loan is a hypothecary loan which exceeds the loan cap. Since these loans cannot be secured by anyone, jumbo lenders appear to have higher credit score standards than you would have to have on an adjustable loan.

The exact conditions can differ considerably between creditors and lenders and depending on your other revenue, debt and asset qualifications. But I would usually expect lenders to see loans on an investment real estate loan well into the 700s.

How about in your own country, what are the things you might consider already in higher standards? Please share your thought

Care must be taken before taking a loan. most of these loan companies do not actually love you, they may pretend as if they do, but if you fail to pay their loan on time they can go to any length to disgrace you and soil your image.

 

[Bousine123]

There are no specific requirements to attaining a loan in my country asides having no record of debt. You also need to have made quality transactions with your Account before Getting the loan.

 

[Queentener]

A jumbo loan is a hypothecary loan which exceeds the loan cap. Since these loans cannot be secured by anyone, jumbo lenders appear to have higher credit score standards than you would have to have on an adjustable loan.

The exact conditions can differ considerably between creditors and lenders and depending on your other revenue, debt and asset qualifications. But I would usually expect lenders to see loans on an investment real estate loan well into the 700s.

How about in your own country, what are the things you might consider already in higher standards? Please share your thought

I do not think there is anything like a jumbo loan in my country, or maybe there is that I do not know of, but I doubt it.

 

[harrypaul]

Taking such loan in my country demands a good salary rate and sometimes they may require a good collateral for this

 

[Kunkun]

Well nothing surprising there because like you said it's a jumbo loan and not the normal type of loans so definitely a higher requirements would come in place and I don't think just anyone can get loans like this

 

[justija]

Jumbo loan isn't for anyone who just want to start up his or business , a jumbo loan I think should be given to company who's trying to recover from thier downfall

 

[HayKay]

It is worthy of note that this stratification is the where those who owe bank the most exist, they go for big loans because they claim to do big businesses or are involved in international trades or own an estate.

They're the ones who mop up people's savings in the name of loan for big businesses, and have made most banks to file for bankruptcy.

They won't try that in any form; even the banks know this because their assets are worth the loan if not more than the loan.
The lenders wouldn't be so stupid to lend them wasted monies; all their researches would've been made before they even approve the loan

 

[Filicit]

Jumbo loans are available in my country but they are mostly run by loan sharks as they are often called, their ridiculous high rate charges is what makes me avoid them

 

[Alexandoy]

Jumbo loans are available in my country but they are mostly run by loan sharks as they are often called, their ridiculous high rate charges is what makes me avoid them

Ouch, the loan sharks are always in our midst. Even here there are small loan sharks in our neighborhood that lend money to the residents. The collection is every day which makes the interest greater because you have to pay in daily installment plus 10% to 20% interest.

 

[Filicit]

Ouch, the loan sharks are always in our midst. Even here there are small loan sharks in our neighborhood that lend money to the residents. The collection is every day which makes the interest greater because you have to pay in daily installment plus 10% to 20% interest.

I think they are popularly called napo, even those that don't belong to that organization and I keep telling every one around me to be careful taking loans from these people

 

[Ceeny007]

I'm not really familiar with the term jumbo loan but I'm thinking it's not meant for small business but for much bigger corporations

 

[Kubiat-Abasi]

Jumbo loans is definitely for jumbo entrepreneurs and investors. A small scale business cannot access jumbo loans. Jumbo loans can be given to organizations or industries that have made a name and created huge impact.

 

[Seno inyang]

Bigger or jumbo loans do require a lot of useful and tracking information from customers before issuing out a loan to them and these information is carefully verified before being documented for further actions.

 

[Kingstone]

I have never heard of jumbo loans before. Although I don't borrow loans from banks the online loan apps are more reliable and secured to some extent. I trust carbon paylater more than other online loan apps.

 

[Mayox25]

I don't know of any loan as jumbo loan here in my country but what I know is unsecured loans which do not have collateral and have a short tenure of repayment.

 

[Dagm1]

I'd never heard the term "jumbo loan" before. However, if it's what I'm thinking of, I believe they are high-cost loans that will be given to huge corporations to grow their operations rather than startups.

 

[Shigobad2020]

A jumbo loan is a hypothecary loan which exceeds the loan cap. Since these loans cannot be secured by anyone, jumbo lenders appear to have higher credit score standards than you would have to have on an adjustable loan.

The exact conditions can differ considerably between creditors and lenders and depending on your other revenue, debt and asset qualifications. But I would usually expect lenders to see loans on an investment real estate loan well into the 700s.

How about in your own country, what are the things you might consider already in higher standards? Please share your thought

Please which country is jumbo loan operating from because I am hearing it for the first time ever, the level of the work you are doing and your income will really determine no much you will get as a loan.

 

[CeeJase]

A jumbo loan is a hypothecary loan which exceeds the loan cap. Since these loans cannot be secured by anyone, jumbo lenders appear to have higher credit score standards than you would have to have on an adjustable loan.

The exact conditions can differ considerably between creditors and lenders and depending on your other revenue, debt and asset qualifications. But I would usually expect lenders to see loans on an investment real estate loan well into the 700s.

How about in your own country, what are the things you might consider already in higher standards? Please share your thought

Whenever it comes to getting loans it is not something that I'm actually open to for any reason whatsoever because of the challenges that most people that I know have acquired loan are passing through when it comes to paying back the loan they got from banks.