All categories

3 years ago

What best explains the relationship between a borrower's credit score and a down payment requirement?

Business

1 answer:

jeka57 [31]3 years ago

7 0

Answer:

Someone with a high credit score may be required to make a lower down payment.

Explanation:

A high credit score is an indication of good borrowing and repayment culture by an individual. It shows the individual makes prompt repayments on their debts, and they hardly miss on installments. A borrower with a high credit score is labeled as creditworthy or a low-risk customer.

A low credit score arises when a customer has a bad history of debt repayment. They have either defaulted or tend to miss on installments. A borrower with low credit is considered high-risk and likely to default on payments.

A lender will demand a high deposit from a borrower with a low credit score to cover for the high-risk involved in the transaction. A borrower with a high credit score is a low-risk customer and does not need to offer a high deposit to access credit.

You might be interested in

New sources of silicon are located in wyoming. the determinant causing the shift in this scenario is

GuDViN [60]

<span>The determinant that causing the shift is resource cost or availability.
New sources means that the companies in relevant sectors could obtain more raw silicon materials at the cheaper price.
This will lead to lower price of products offered in the market and resuled in higher amount demand of products that use the material.</span>

8 0

4 years ago

Sophia's family is growing, and she needs to buy a bigger car by financing it for five years. Why is it important for her to che

GalinKa [24]

Answer:

To verify the accuracy of his rental history

Explanation:

Based on the scenario in the question, it is it important for Christian to check the information recorded on his credit report so as to verify the accuracy of his rental history.

He has to verify his rental history so as to know if there's a mistake or if the details written are not correct. To apply for the mortgage, he needs to ensure that the details are correct.

Explanation:

4 0

3 years ago

Miriam and Devon are both upper-level managers, but have very different decision-making styles. Please name and describe in your

Sav [38]

There are various decision making styles of managers, the 4 different kind of manager decision making styles are listed below,

1. Directive

2. Analytical

3. Conceptual

4. Behavioral

Each of these method depend on the style of manager and the situation he is facing.

The directive style decision making style is used for firm decision making, in which ideas are not appreciated by the juniors. This is an aggressive decision making style

Analytical decision making style is one which focuses on finding the best possible solution to the problems after considering all alternative solutions

Conceptual decision making style is one in which managers are achievement oriented and they wish to see brighter future.

Behavioral decision making style is one in which nature of manager is persuasive and he believes gathering ideas from colleagues before making a decision.

Learn more at brainly.com/question/24383317

3 0

3 years ago

Companies need to select the best employees who apply because the cost of employees who leave is very high.

Fofino [41]

Companies need to select the best employees who apply because the cost of <u>replacing</u> employees who leave is very high

<h3>What is the meaning of job replacement?</h3>

Replacement Employee is defined as a worker hired by the employer on a full-time or part-time basis for at least two calendar months to cover the absence of another worker who is out on an extended leave.

<h3>What is the replacement policy?</h3>

When a Removed Policy expires or is canceled, a Replacement Policy—which is one offered or issued by the insurer on its own policy forms—comes into force.

<h3>How company work?</h3>

The legal existence of a firm is distinct from that of its owners, managers, operators, employees, and agents. A firm has the same rights and privileges as an individual, including the ability to own and sell property, bring legal action and be sued, and enter into contracts.

To know more about company work visit:

brainly.com/question/14555664

#SPJ4

I understand that the question you are looking for is :

Companies need to select the best employees who apply because the cost of ___________ employees who leave is very high

3 0

2 years ago

What is the relationship between the business and the supplier??

makkiz [27]

This is a very broad question.

There are lots of relationships between business and supplier, but basically the supplier provides the resources for the business to perform its business function.

8 0

3 years ago