It's time for Jacob to #JargonBust and this week he's talking about Credit Limits! 📈 "Credit limits show the amount of funding a lender is willing to provide on individual customers at any one time. It will vary from customer to customer, depending on their strength. If your outstanding balance with a customer goes above your credit limit, the funding will be capped at the credit limit. You would not receive an advance on balances above the credit limit. This effectively lowers the prepayment you receive, but you would still pay your service fee on this amount. When looking at an invoice finance facility, it is key to ensure the lender can get sufficient credit limits. Credit limits can vary from lender to lender, due to different lenders using different credit reference agencies and credit insurers. Even if one lender is restrictive, there may be other options." Have you got any #financejargon you'd like Jacob to break down? Drop it in the comments! 👇
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The market has spoken - thank God! Clients need brokers more than ever but want capped fees and options! While deals continue to close at GPARENCY thank God, new origination is picking up and an even faster pace. During the first 6 months of this year, new qualified loan submissions averaged 46 a month and in July we just broke 60 and, God willing, we are on pace to originate over 75 in August. As you saw from the recent GPARENCY closings, clients love the fact that while they get our top team of brokers (Ami Eller Scott Forbes) and heads of our banking division (Jack Charlap Jeffrey Pollack) on every deal, clients love the facts that they have an option on each deal to either: 1. Only pay a 1/2 a point capped at $100k, or 2. Pay like you pay an attorney and only pay $11k upfront and nothing at closing, or 3. Pay $4,500 upfront and have our brokers brokers the deal until you get the best rate and terms with a signed term sheet. The 3rd option is perfect for clients that go direct already or use a broker but second guess if there is better out there. Have us shop and then stay your course! With all the options, same brokers, but client stays in control by choosing how much and when they pay!
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Did you know closing old and new credit accounts can lower your credit score? 📉 Reach out for more details! 🐺🐺🐺🐺 #Loanwolflending #Mortgagebroker #Homeloanswithabite #Abetterbreedofhomeloans
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Did you know closing old and new credit accounts can lower your credit score? 📉 Reach out for more details! 🐺🐺🐺🐺 #Loanwolflending #Mortgagebroker #Homeloanswithabite #Abetterbreedofhomeloans
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Did you know closing old and new credit accounts can lower your credit score? 📉 Reach out for more details! 🐺🐺🐺🐺 #Loanwolflending #Mortgagebroker #Homeloanswithabite #Abetterbreedofhomeloans
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Did you know closing old and new credit accounts can lower your credit score? 📉 Reach out for more details! 🐺🐺🐺🐺 #Loanwolflending #Mortgagebroker #Homeloanswithabite #Abetterbreedofhomeloans
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𝐀𝐫𝐞 𝐘𝐨𝐮 𝐆𝐞𝐭𝐭𝐢𝐧𝐠 𝐒𝐭𝐚𝐥𝐥 𝐋𝐞𝐭𝐭𝐞𝐫𝐬 𝐅𝐫𝐨𝐦 𝐓𝐡𝐞 𝐂𝐫𝐞𝐝𝐢𝐭 𝐁𝐮𝐫𝐞𝐚𝐮𝐬? If you're getting stall letters from the credit bureaus as a response to your disputes there couple be a couple of reasons why: 𝒀𝒐𝒖𝒓𝒆 𝒔𝒆𝒏𝒅𝒊𝒏𝒈 𝒐𝒖𝒕𝒅𝒂𝒕𝒆𝒅 𝒔𝒖𝒑𝒑𝒐𝒓𝒕𝒊𝒏𝒈 𝒅𝒐𝒄𝒖𝒎𝒆𝒏𝒕𝒔 𝒀𝒐𝒖 𝒉𝒂𝒗𝒆 𝒔𝒐𝒎𝒆 𝒃𝒍𝒐𝒄𝒌𝒔 𝒐𝒏 𝒚𝒐𝒖𝒓 𝒓𝒆𝒑𝒐𝒓𝒕 𝒀𝒐𝒖𝒓𝒆 𝒖𝒔𝒊𝒏𝒈 𝒕𝒆𝒎𝒑𝒍𝒂𝒕𝒆𝒔. Stall letters could be the reason why you're disputes arent working but you shouldn't be worried unless you've been sending disputes for over 6 months. You don't have to wait 6 months to wait, you should be getting results as early as 1-2 months just like our client below. They came to us to fix their credit and now they are house shopping because they can get preapproved with an FHA loan. Interest rates are low and now it's time to take advantage. What is your biggest problem with your disputes?
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Did you know that closing both old and new credit accounts can lower your credit score? This happens due to either a decrease in credit age or an increase in credit utilization ratio. Reach out for more details! #edgehomefinance #bellingham
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If you’re an avid DIYer, you probably prefer fixing things yourself rather than hiring someone to do it. So, if mistakes crop up on your credit report, we’re guessing your first inclination would be to try to fix it yourself. There's nothing wrong with taking the DIY approach, but here are a few instances where you should consider contacting a credit repair company rather than battling it out on your own. * You’re unsure of the credit repair process. * You’ve tried fixing it yourself and were unsuccessful. * You want help with debt negotiation. * You simply don’t have the time to jump through hoops with the credit bureau and credit provider. Credit repair companies understand the process and have established relationships with Australia’s three credit bureaus and many of the major credit providers. We can negotiate payment plans and apply to remove incorrect listings on your behalf, saving you time and increasing your chances of a successful outcome. Want credit repair advice? Contact Clear Credit Solutions on 1300 789 783 or enquiry@clearcreditsolutions.com.au. We’ve won the ‘Credit Score / Credit Repair Services’ category in the annual ProductReview Awards for four consecutive years. #creditrepair #creditfix #creditclean
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Your credit report is a detailed breakdown of your credit activity, such as loan paying history and the status of your credit accounts, prepared by us @creditregistry_ Banks and other lenders access your credit report to inform their decision about your loan application; whether or not they should loan you money and at what interest rates. Lenders also use your credit report to determine whether you’ll continue to meet the terms of an existing credit account. It is important that you check your credit report regularly, to ensure your credit information is correct and up to date, and to track your credit account situation and eligibility for credit opportunities. Also note that you’re eligible for a free credit report once every year. Click creditregistry.ng (link in our bio) to check your credit report today, or visit our website www.creditregistry.ng, it’s that easy! #Creditreport #Creditregistry #Creditbureau #Credit
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A hard credit pull occurs when your credit report is reviewed as part of a loan or credit application and impacts your credit score. A soft pull, however, doesn't affect your score and happens during a pre-approval. Reach out to understand more! (941) 584-8724 www.bayportlending.com #realestate #bayportlending #mortgagebroker #loanofficer #creditscore #creditreport
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