They may falsely assume they can just shuffle some assets from a friend or family members account into their own bank account without incident, then use them to qualify for a mortgage. Unfortunately, this doesnt fly with many banks and mortgage lenders because the money isnt properly sourced or seasoned. Banks and lenders want to ensure the money is truly the borrowers money, and in the borrowers account for several months before theyll accept those assets as their own.
If it just appears out of thin air one day, the lender wont feel very comfortable about the legitimacy of those funds. For example, attempting to use mattress money for your down payment likely wont go over well. You might think, why not.
Its my money, my hard-earned cash, why cant I use it. Well, the lender doesnt know where that money came from if it just appeared in your bank best banks for personal loans with good credit a couple days ago. Could you have taken out an undisclosed loan, borrowed money from someone, or acquired funds another way that could make you a riskier borrower than you appear.
Sure and absolutely.
Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay.
If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments. Were Committed To Service, Speed Security. Connect with a Helpful Lender. We commit to connecting you with an approved lender. We also made the process simple. No need to visit hundreds of websites and fill out numerous paperwork. The Need for Speed.
000, and made by, and subject to the approval of, an unaffiliated third party lender. Loans in Texas arranged by ACE Credit Access LLC and made by, and subject to the approval of, an unaffiliated third party lender.
ACE Cash Express, Inc. is licensed by the Virginia State Corporation Commission, PL-115. If applying online, loan funding requires verification of application information.
Depending on ability to verify this information, loan funding may be extended up to two days.
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