HLS
Annuities, Car Leases, Neg Am Loans. These types of finanical instraments are not for the average person and I beleive that you are correct in your statement that they are more often than not good for the lending institiution as opposed to the customer. But at the same time if the average Joe started doing some thinking as opposed to asking “what is my monthly payment or what is my rate” and started to ask educated questions than a lot of these poor decisions could have been avoided.
I would like to get you opinion on the CHAFA and ChDAP Loan programs for First time home buyers. For thsoe that qualify it seems like these are good option to start with.
I believe you are referring to the income limits and the max home values. I am certain that there is some addtional documentation but IF you do qualify it seems to be the way to go.
In the student loan industry lenders waive fees and offer incentives. Do you know if lenders compete by waiving fees in these programs. By this I mean there is typically a 1.5% origination fee for the CHAFA loan. Will lenders waive this fee in the interests of competition.
I believe you are referring to the income limits and the max home values. I am certain that there is some addtional documentation but IF you do qualify it seems to be the way to go.
In the student loan industry lenders waive fees and offer incentives. Do you know if lenders compete by waiving fees in these programs. By this I mean there is typically a 1.5% origination fee for the CHAFA loan. Will lenders waive this fee in the interests of competition.
