Who Are Eligible Borrowers For A Mortgage?

Home Loans

Who Are Eligible Borrowers For A Mortgage?
(presented by www.refinance-refinance.net - mortgage lenders)

By Ben Afzal

Eligible Borrowers

Mortgage lenders define borrowers in many different ways.

The standard borrower is someone looking for a loan for their own home, either to purchase a new one or refinance their existing property.

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Lenders regard borrowers who are living in the property to be primary residence borrowers. These types of borrowers are usually the least risky for a lender. Since they live in the property they have a strong incentive to continue to make payments.

Another borrower type is a non-resident borrower. This is someone who is one the loan application but does not live there.

This is a more risky person to lend to because they don

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