Which statement best describes how lenders determine borrowing conditions for a customer quizlet?

Which statement best describes how lenders determine borrowing conditions for a customer quizlet?

Which statement best describes how lenders determine borrowing conditions for a customer? They access the customer’s credit reports. The Jones family would like to buy a home, but they have a large amount of debt that has led to a weak credit score.

Which information is included on a person’s credit report?

The typical credit report will include personal identifying information: a list of credit accounts (including credit limit), type of account (credit card, mortgage, auto loan, etc.), and your payment history on those accounts.

Which statement best describes the lenders viewpoint of William?

Which statement best describes the lender’s viewpoint of William? He is a low-risk borrower who qualifies for lower interest rates.

What is a benefit of obtaining a personal loan quizlet?

What is a benefit of obtaining a personal loan? getting large amounts of money to use immediately. A way to build good credit ispaying bills when they are due

Which information is included on a person’s credit?

A credit score is a number between 300850 that depicts a consumer’s creditworthiness. The higher the score, the better a borrower looks to potential lenders. A credit score is based on credit history: number of open accounts, total levels of debt, and repayment history, and other factors

Which information is found on a credit report quizlet?

What are the four categories of a credit report? Your name, current and previous addresses, telephone number, full or partial Social Security number, date of birth and current and previous employment information. What does consumer (personal) information include? The maximum dollar amount that can be borrowed.

Which statement best describes the role of a credit agency quizlet?

Which statement best describes the role of a credit agency? It tracks the use of credit for lenders. What do borrowers use to secure a mortgage loan?

What best determines whether a borrower’s interest?

As we alluded to, the factor that best determines whether a borrower’s investment on an adjustable-rate loan goes up or down is the current market. The market’s condition drastically impacts the rate of investment.

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