Archive for the ‘Loans’ Category

While the majority of borrowers financing a home purchase will choose a traditional fixed-rate mortgage loan, adjustable rate mortgages (also known as ARMs) are also a popular choice. What is an ARM and how can you decide if it’s worth considering?   With a fixed-rate mortgage loan, you have just that: a fixed interest rate […]

     While the majority of borrowers financing a home purchase will choose a traditional fixed-rate mortgage loan, adjustable rate mortgage loans (also known as ARMs) are also a popular choice. What is an ARM and how can you decide if it’s worth considering? With a fixed-rate mortgage loan, you have just that: a fixed interest […]

A home equity loan is when you borrow money against your home’s value. As a result of borrowing against your home’s equity, your home is used to secure the loan and is used as collateral in case you default on payments. A consumer might take out a home equity loan if they’re experiencing significant financial […]

  Not all loans are bad, and some make it possible to finance larger purchases that otherwise would have been difficult to afford, such as a home or a car. But there are other types loans—loans that come with risky terms or extremely high interest rates—that should be avoided at all costs. Most people who […]

Monthly home loan payments are made up of a few different costs, and for many people, private mortgage insurance (PMI) is one of these costs. Lenders include PMI as part of the monthly payments as a way to protect themselves, in case the borrower ever falls behind on payments. PMI is usually required for all […]

Do you need cash to take care of bills and other expenses, and you’re considering a home equity loan (HEL)? By tapping into the equity of your home, you can receive a one-time payment that you’ll eventually need to pay back in full. Although a home equity loan can help get you out of a […]

Have you always wondered about the costs that make up a mortgage payment? This article helps break down the average monthly mortgage payment; this information can be helpful in determining how much house you can afford or how much of a down payment you should try to come up with. Principal Part of your mortgage […]

People facing financial hardships will sometimes consider the option of a car title loan—a short-term line of credit that uses the borrower’s car as collateral, in case he or she is unable to pay the money back. If you have been thinking about a car title loan as a potential solution for your financial woes, […]

Home loans are often designed to last a set amount of time (usually 30 years) but it doesn’t mean it has to take you this long to pay off the remaining debt. Depending on the specific conditions of your mortgage, there are easy ways you could pay off your mortgage faster. Refinance your mortgage Refinancing […]

If your mortgage application was turned down, you may not understand or even find out why. It could be one reason or it could be multiple reasons, and this article highlights some of the main reasons that some applicants don’t receive mortgages. If you have yet to apply for a mortgage, but have been thinking […]