Maximum Loan Amount

Maximum Loan Amount

The largest loan size permitted on a particu- lar loan program.

For programs where the loan is targeted for sale to Fannie Mae or Freddie Mac, the maximum will be the largest loan eligible for purchase by these agencies. On FHAloans, the maximums are set by the Federal Housing Administration, and vary somewhat by state and county. On other loans, maximums are set by lenders.

References in periodicals archive ?
'A maximum loan amount of P500,000, with an interest rate of only 6 percent per annum, is certainly advantageous to our members.
CHED noted that an "initial maximum loan amount of P60,000 may be used for tuition and other school fees, books, tools, equipment, stipend, and/or for license exam fees." It added that as "an incentive to student borrowers," there will be "no interest" charged if the loan is "paid within one year from date of loan approval."
The maximum maturity of the loan is up to 30 years, and the maximum loan amount per borrower is up to 430 thousand euros.
The firm also said that it would increase its maximum loan amount from AUD250,000 to AUD500,000.
He also issued a directive to raise the value of housing loans for citizens in government residential neighbourhoods from AED800,000 to AED1.2 million as a maximum loan amount, depending on the value of the premises.
He also issued instructions to increase the value of housing loans for Emiratis living in government residential neighbourhoods districts from Dh800,000 to up to Dh1.2 million, as a maximum loan amount, depending on the value of the property.
Under the voluntary loan program, borrowers may apply for a maximum loan amount of P500,000, which is automatically deductible from their salary and payable in equal monthly installments for six years at a reduced interest rate of six percent per annum.
In the case of Metrobank, one can enjoy a maximum loan amount of up to 80 percent of the property's selling price and pay for it for as long as 25 years.
The maximum loan amount is generally 80 per cent of the property value.
The maximum loan amount is OMR20,000 with 5-year tenure for repayment.
The Credit Guarantee Fund Scheme for Education Loans provides guarantee for the education loan disbursed by banks without seeking any collateral security and third-party guarantee, for a maximum loan amount of Rs 7.5 lakh per student.
On the other hand, CGFEL Scheme provides a guarantee for the education loan under the Model Education Loan Scheme of Indian Banks' Association, disbursed by the banks without seeking any collateral security and third-party guarantee, for a maximum loan amount of Rs 7.5 lakh.

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