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.
This is above and beyond the amount required for the down payment and closing costs, by the way. Its extra money kept in reserve to cover the monthly payments hence the term. Why do some lenders have cash-reserve requirements. In a word, risk. When borrowers synchrony bank personal loans additional money saved up, they are less likely to miss their mortgage payments at least the first few payments.
They are mostly concerned about your payment ability in the short term, versus the long term. Heres why… Your lender may not keep your loan on its books for very long. They might sell it into the secondary market through Freddie Mac andor Fannie Mae (the government sponsored enterprises, or GSEs, that buy and sell bundled loans).
Youve probably heard about mortgage-backed securities, or MBS. Thats what they are.
Fast Funding. Accept and get funds. How our loans work. You apply online. Its easy to apply for a cash loan online. You can use your computer, smartphone or tablet. It only takes 5 mins. We check confirm. We do a quick check on the information you have submitted to make sure were lending you the right amount and it meets your needs.