how important the requirements in applying for loan
1. how important the requirements in applying for loan
Answer:
The most important factor in deciding whether to borrow money is you. Looking at monthly and yearly budgets may help you understand just how much you can afford to make in loan payments, thus helping you decide on a loan amount.
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2. Enumerate 5 loan requirements of a nonbank
Answer:
Application FormValid personal identification documentsCredit information/collateral fileCredit investigationExplanation:
3. two samples of loan requirements to corporation
Answer:
age of business and current amount of debt.
Explanation:
Age of business. New businesses often have difficulty getting funding because most lenders only lend to businesses with a track record of at least two years
Current amount of debt. The other part of the debt-to-income ratio is debt. Businesses and borrowers with too much debt will have difficulty getting new loans.
4. if a car loan of p790.000.00 requires a 20% down payment. how much is the mortgage?
Answer:
632,000
Step-by-step explanation:
20% of 790,000: P158,000
790,000-158,000=632,000
5. difference of loan requirements in banking and non bank institution?
hope it helps
# Carry on learning
6. why is it important for banks to collect all the loan requirements?
Answer:
A documentation loan is a type of loan demanding full details to substantiate income and asset statements by a borrower to obtain financing. The huge percentage of loans are loans related to secured loans requiring full documents. The borrowers use the documentation given during the underwriting process to ensure that the funding application is correct and to further evaluate the conditions of a loan agreement.
7. 2. If a car loan of P1,190,000 requires a 20% down payment. How much is the mortgage
Answer:
952,000
Step-by-step explanation:
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8. 1. If a car loan of 1,250,000.00 requires a 15% down payment. Howmuch is the mortgage?
Answer:
Php 187,500
Step-by-step explanation:
Php 1,250,000 * 0.15 = Php 187,500
Ps. 0.15 is the same as 15%
9. In a car loan of Php 1,400,000 requires a 30% down payment.How much is the mortgage?
Answer:
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Step-by-step explanation:
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10. A car loan of P850,000 requires a 15% down payment How much is themortgage?
P=850,000
r=0.15
F=p(1+r)
F=(850,000)(1+0.15)
F=
Step-by-step explanation:
11. In loan application, when is a co-maker required?
Answer:
Is co-maker required in all loan transactions?
This depends on the lender. If the lender sees that you are unable
to meet all criteria or if you want to borrow money without
risking any of your assets, then applying with a co-maker could increase your chances of approval.
Step-by-step explanation:
12. why is it important for banks to collect all the loan requirements???
Answer:
To avoid conflicts and be assured that the borrower will pay its loan. Also, for the bank to confirm if the borrower is legit and if ever she/he cannot pay the bank anymore, the bank will get some of borrower's asset or the agreed collateral
13. why might someone be required to put in a down payment in order to recieve a loan?
So if they don't pay the loan back they have money still
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14. What comes to your mind when you hear the word loan requirement?
Answer:
Oh, I have to collect a lot of paperwork, prepare many documents, submit them to the loan officer, wait until the underwriting completes, and then wait again for the funding, right?
Actually, this is not true.
Nowadays, borrowers can apply for a loan simply and easily, without too much paperwork and waiting.
15. If a car loan of Php 790,000 requires a 20% downpayment. How much is the mortgage?
120
Step-by-step explanation:
790×20=1290÷2000=120
16. what are the common requirements in order to do a bank loan
Answer:
hope it helps
Step-by-step explanation:
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17. What kinds of valid Ids are required for the second dose of covid19 vaccine?
Answer:
uhm bibigay mo lng ata ung vaccination card mo
18. in loan application, when is co-maker required?
Answer:
This depends on the lender. If the lender sees that you are unable to meet all criteria or if you want to borrow money without risking any of your assets, then applying with a co-maker could increase your chances of approval.
19. What are the papers and documents required in a loan application?
Answer:
Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
Address proof (copy of passport/voter ID card/driving license/Aadhaar)
Bank statement of previous 3 months (Passbook of previous 6 months.
More items...•
20. list down 5 requirements for nonbank loan
Answer:
Application FormValid personal identification documentsCredit information/collateral fileCredit investigationExplanation:
21. VI.If a car loan of P790,000 requires a 20% down payment. How much is the mortgage?
Answer:
20% of 790,000: P158,000
790,000-158,000=632,000
632,000÷(How long would you pay for it)
Example: 632,000÷12(12 months)=52,666.6666667
*It actually depends on how long would you pay for it
22. 1. À credit application is the first step in getting a loan. Some requiredinformation like name of the business, government-issued id card, etc. refersA. DemographicB. Income or revenueC. Assets and liabilitiesD. Contract and references
Answer:
B. income or revenue
Explanation:
revenue is the total amount of income generated by the sale of good or service related to the company's primary operation
23. what is the present value of a house loan with annual payments of 95000 with interest rate of 9% compounded annualy of 6 years.ide
146300 po a ng answer Jan
24. in loan application, when is co-maker required?
Answer:
This depends on the lender. If the lender sees that you are unable to meet all criteria or if you want to borrow money without risking any of your assets, then applying with a co-maker could increase your chances of approval.
25. A loan of P 2,000 is made for a period of 13 months, from January 1 to January 31 the following year, at a simple interest rate of 20%. What future amount id due at the end of the loan period?
subtraction and addition
26. Which type of loan requires that you pay the interest accumulated during college?
The answer would probably most likely be Student Loans.
I'm not 100% sure on the technical name for it but to sum it up it would be Student Loans.
Hope this helps. Have a wonderful day.
27. A loan of P 2,000 is made for a period of 13 months, from January 1 to January 31 the following year, at a simple interest rate of 20%. What future amount id due at the end of the loan period?
2,000 x .2 = 400 pesos = interest per month 400 x 13 = 5,200 pesos = interest for 13 months 2,000+5,200 = 7,200 pesos = future amount at the end of the loan period.
28. Enumerate 5 loans requirements of a bank?
Answer:
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Answer:
Capacity to Repay
Collateral of Leverage
Capital Holdings
Character or Reputation
Conditions of the Market
29. Ken loaned mario p5,000,000 under a written loan agreement the principal of the loan will mature in 5 years and pays, 10% annual interest. ken required mario to submit a promissory note to secure the loan. after a year, mario incurred delay in interest payment prompting ken to require mario to mortgage his residence with a total fair value of p4,000,000 as security to the loan. compute the documentary stamp tax on the mortgage.
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30. What are the basic requirements and processes in a loan application?
Answer:
application, underwriting and closing
