I am just coming across the word jumbo loan for the first time, though here in my country we have different types of loan but i don't think that jumbo loan exist here at all,
Expect higher requirements for jumbo loans
- Thread starter Edward2
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The standards in our country are all based on the banking standards as per the regulation of the central bank. Legal lenders like banks and financial institutions cannot raise the interest rate of loans without approval of the central bank. That restriction is a safeguard against undue inflation that can result when the interest rate becomes usurious. We do not have jumbo loans here and in my experience in working in a bank I have not encountered that term.
Wow, this is interesting. Anyway this is just the first time I am hearing about this loans. So I don't really know how it work but generally getting a loan for anything is something I am always against of in most cases.
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I believe that this kind of scenario is actually make it very difficult for the main people who are going to utilise these loans to get them. There is no way that alone should be regulated like this and it should always be made available for people who need them.
They should try as much as possible to make sure that they're not really expecting so much as interest rates , because we are always struggling to use the money and get some profits.
That's some of the prerequisites of jumbo loans and the interest rate might be really high in some cases, only resort to jumbo loans when that becomes an only option to raise for your business and company.
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I never heard of a "jumbo loan" before. Maybe we call it something different over here? Or maybe I just never dealt with a bank that offers them.
I am wondering, what does this loan do that is different from say a mortgage loan?
I am wondering, what does this loan do that is different from say a mortgage loan?
We can simply say that if you want to be able to acquire loans in a very high rate then you should just build your credit score with a lot of people have proven over time that it is something that it is not that difficult.
The target requirements of compliance about lending are not fluctuated (they must be for Fannie and Freddie to buy a loan), and the lender has more players with Jumbo Lo's bond Is. For these reasons, qualified requirements differ from the mortgage lender from the following.
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It is best for individuals with as much as possible to raise the money that they would be needing on their own and not just consider how to take loan because they are not reliable.
When you apply for a bigger loan requirement for the loan will be very big and sometimes I'm very difficult to meet that is why I wanted to be very careful of the kind of loan that you are applying for so as not to be too high because of repayment.
It is becoming frustrating the way people cannot access loans whenever they needed them especially people who want to start businesses that are even going to be beneficial to the economy in the long.
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It is very obvious that you will need a requirements that is very hard if you want to collect a big loan or a jumbo loan as it is put in the tread so one just need to be very careful of the type of loans should be applying for.
Whenever you take alone that is of high value you should expect in the requirement to be very high true because that is how it works in the loans industry that is very functional.
Probably, before you will be given a loan it is important for you to have such assets in case goes wrong or you refused to pay on time. It is also one of the requirements in my country for you to obtain a loan.
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That is one of among the requirements for obtaining loans from mostly commercial institution,but most of the time you would be required to get a strong collatoral to support you loan request.
That is one of among the requirements for obtaining loans from mostly commercial institution,but most of the time you would be required to get a strong collatoral to support you loan request.
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speaking from experience, it is best you avoid any form of loan, it is not worth it at all, except you are looking to expand your already existing business that is doing well in terms of cash flow and customer base, that is when you should think of expanding your business
Well I don't know much about jumbo loans and how it works but I will love to makes much enquiry about how the jumbo loans works maybe I can get some assistance.
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one of my Uncles who took a loan to complete his building project some time ago regretted the action. He said that he wouldn't advise anyone to take that route because it will take a lot of money from you. He was a public servant as of that time and most of his salaries were cut because of that loan.
one thing about loans is that the higher the amount,the more the collatoral you would be required to put down as a place holder in order to secure that loan,that is just one thing about getting loans from financial institution.
Definitelly that is one of the criteria that would make a financial institution to consider the giving out of loans to business person,your credit score is very important,and the collatoral that one is bringing.
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