Financial Dictionary: Accounting, Business & International Finance
It seems hard to believe it was only ten years ago when a 20% downpayment was required for the purchase of a home. Lenders would not take the chance on offering loans without downpayments. That changed when real estate prices began rising at a torrid pace in 2000, which led everyone to believe that real estate was the investment of a lifetime. This, in turn, led to new types of lending programs. O…
In choosing home equity loans, would-be borrowers are usually given three choices: 80/20 home loans, 100 home loans, or 125 home loans. These options represent increasingly riskier and higher interest options available to homeowners. While the 80/20 home equity loan provides fantastic interest rates useful for consolidating debt, a 125 home loan, also called ?a second mortgage,? is a risky venture…
A 125 home equity loan can be beneficial for many reasons. In addition to being a good option for those who don?t have any equity in their home, it can also be used to prevent foreclosure, consolidate debt, pay for an important medical bill or procedure, pay for a student loan, pay off high interest credit cards, pay for home improvements, or pay for renovations on a new home, which will increase …
Today, a great deal of attention is being paid to the ongoing low mortgage rates. In fact, according to Freddie Mac, 30 year mortgages are within a few basis points of being the lowest they have been since at least 1971. However, little attention is paid to the 15 year mortgage. As of the end of march of 2010, the average 15 year mortgage rate was at an all time low since 1991. Although data is no…
Many financial experts have recently come out to advise homeowners to pay off their credit card debt by getting a second mortgage on their home. The second mortgage offers many benefits and is less expensive than the credit card debt. This becomes a problem for those who have bad credit. Second mortgage options are not as wide for those with bad credit as they are for those with good or even avera…
Many people use second mortgages to bring in some extra money that has both low interest rates and tax advantages. The rates today are so low that even people who previously were not in the market for homes or loans are looking for mortgages and second mortgages. When you have a second mortgage, it is second in line to the first mortgage if a problem arises and the home is sold or foreclosed upon.…
In today?s market, it is amazingly easy to get a good 30 year fixed rate mortgage. As long as one is buying a conforming property and follows some basic common sense rules, one can obtain debt at the lowest level in the past forty years. Unfortunately, today?s strong lending market is most applicable only for those mortgages which are conforming. A conforming loan is one which conforming to guidel…
If you find yourself needing to apply for a bad credit home improvement loan, you?re not alone. Very rare is the consumer who has perfect credit, so don?t let the fact that you have some blemishes on your credit history intimidate you. It is possible to get the loan you need for your home improvement project, even if your credit isn?t perfect. That being said, there are some things you need to kee…
It is a simple matter for a person to ruin their credit history. An unexpected job loss, sudden medical bills, or other matters of income loss can keep you making your current payments. A few late payments on the credit cards, the car, or the mortgage, and you may find yourself no longer having a viable credit score. Without good credit your chances for being given a regular loan, whether it be pe…
When a person decides they want to purchase a home instead of renting a residence, it is a major life decision. A home is the biggest tangible purchase they will ever make. It is far more expensive than buying an automobile, which is the second largest purchase most people will make. When it is time to go to a lender?s office and make that first application, it can be a little intimidating because…
For the fastest way to get a home loan, apply online. Applying online allows you to work with virtually any home loan company there is, because most lenders today do have an online presence. Big financial institutions like the Bank of America, government agencies like the U.S. Department of Veterans Affairs, and loan finders like Lending Tree or Ditech have websites where you can locate informatio…
Many potential home buyers have many questions regarding what is needed to apply for a mortgage loan. Applying for and accepting a mortgage loan is one of the most important financial decisions that many people will make in their lifetime. This is why it is extremely important to have a good understanding of how to apply for a mortgage loan and what the loan process entails before making such a la…
Everyone wants to get the best deal on a large financial purchase like a mortgage. With rates hovering around rock bottom, this is a good time to seek out the home of your dreams and find the mortgage that will allow you to move right in. Many new mortgages have low interest rates below the 5% level, at 4.25% for VA mortgages and 4.625% for conventional mortgages for people who are blessed with go…
One of the most disappointing situations in life is needing to purchase a car but being turned down for a regular auto loan. Fortunately, there are many lenders willing to write a bad credit auto loan. Before accepting such a loan, though, borrowers should be aware of several facts. Many lenders will give a borrower a bad credit auto loan only if there is a prior auto loan on the credit report. Wh…
For most people, the largest purchase that they will make other than their house is their car. Since, according to the National Automobile Dealers Association, the average new car in America costs $28,400, it is also most people?s largest obligation, other than their mortgage. It makes sense to research the best loan possible to save money on this major purchase. The best loan is, of course, no lo…
Even when you look for an average mortgage rate, there are slight differences in calculations. To understand the ?talk? better, here are a few definitions: ? Fixed Rate ? this is an APR (annual percentage rate) that is fixed and does not vary. ? Variable Rate ? this is an APR that does vary according to the ups and downs of the federal prime interest rate. ? Prime Rate ? this is the rate that mo…
In today?s fast-paced society, everyone needs a car to get around. If you have less than exceptional credit you have to watch the loans you will qualify for. You will be able to find a car loan but in most cases the interest rates combined with the monthly payments will make you pay more that the car is worth. In the current economy, if you are looking for a car loan from a private bank with less …
It is very possible to refinance a mortgage with bad credit and improve the interest rate while you reduce monthly payments. There are many things to think about when you have a bad credit situation. First of all, if you are refinancing an old loan and had bad credit when you got that first loan, you probably are paying very high fees and interest rates. If the mortgage was obtained when you had g…
If you reside in the UK and your credit is not perfect, then the standard methods of getting funds are not an option for you. Most banks, regardless of the country you are in will not approve applications from people with bad credit. Funding can still be located for those who need a bad credit loan in the UK. Compared to some countries like the US, UK financial institutions are not regulated as mu…
Many people love the affordability and quaintness of living in a mobile home. Today?s mobile homes, however, are not as cheap as one might imagine. Just like full-size, single-family houses, most new and slightly-used mobile homes require a loan for purchase. This is no problem for those with good credit, but can be an obstacle for those whose credit has a few blemishes. Fortunately, lenders exist…
If your credit score is in the bad to poor range below 620 and you have an existing loan or mortgage, chances are good that you are paying high interest and high fees for that loan. It is possible to get a bad credit refinance loan with a lower interest rate if you prepare in advance and do a careful search for your loan product. You should still be able to get a bad credit car loan refinance or a…
Bank of America is the largest bank holding company in the United States. Clients of Bank of America come from 150 countries. 99% of all large U.S. corporations deal with them in some form. Since 2008, when they acquired Merrill Lynch, they have also been the largest personal financial group in the country. It is estimated that of all deposits made in the U.S., over 12% are to the Bank of America.…
Often those consumers who file for bankruptcy find that there is equity in their real estate, which simply means that the value of their house is greater than the balance that they owe on their mortgage bond. Should this be the case, the consumers involved ? who will be known as ?debtors? after they have filed for bankruptcy ? will have the option of obtaining a bankruptcy equity home loan. Exactl…
You filed bankruptcy, perhaps Chapter 13. Now your debts are gone, but the bankruptcy remains as a black mark on your credit. You still have your home, with some equity in it, and you need a bit of cash in order to begin to rebuild your financial life. Can you access that home equity, when you have a bankruptcy on your record? The answer is absolutely yes. There are a number of lenders who welcome…
There is no secret to finding the best interest rates for home equity loans. These rates are published and updated every week. They are available online at many financial websites operated by banks, referral companies, mortgage companies and financial reporting agencies. Begin your search at reputable websites like Bankrate.com or CNBC.com for current financial information about interest rates. Fo…
Finding the best home equity loan rate seems simple enough. You just look around at advertising and find the lowest number, right? Wrong. That is way too simple! The advertised rate can be any number of things. It is an advertised rate, but it may not be the rate that you personally qualify for. It may be the simple interest rate and not the compounded APR (annual percentage rate) interest rate. T…
Who would not want to get a low rate on their mortgage refinance loan? There are ways to assure that you can get the best refinance home mortgage interest rates. Being a good money manager is one way to live that will always bring in financial benefits like lower interest rates for loans. How you spend your money and manage your credit accounts is reflected in your credit report that details your …
Even the worst credit rating will score you a loan when you have something of value to secure it with. Unlike unsecured loans, which are granted according to credit history and based entirely on an agreement to repay, secured loans are guaranteed by tangible assets that give lenders collateral against the loan amount in the event borrowers default. If you don?t repay the secured loan according to …
Anyone who is buying a house or refinancing an outstanding mortgage knows well the difficulty of locking in a good rate. Available mortgage rates fluctuate wildly from bank to bank, as well as from month to month if the federal government decides to change the interest rate. Many refinancing deals that seemed sensible or indeed too good to pass up were revealed to be based on faulty assumptions an…
What people need to understand about refinancing rates is that they vary depending upon requirements of the borrower and stipulations by the lender. There are many things that go into creating a refinancing rate; loans are highly individualized for each consumer. There is no blanket loan, and there is no blanket best mortgage interest rate. The best refinance home mortgage loan rate in the eyes of…
When looking for a home mortgage in Bristol, RI, there are a few things to remember and to watch for that are of importance to home owners in that area. Mortgage rates are similar to nationwide averages in Bristol, RI. Insurance may be a little higher, because of recent flooding. Having flood insurance for your home in Bristol would be a necessity. Home mortgage averages nationwide right now are v…
Tapping into the equity in your home can be a convenient and cost-effective way to access money for large expenses like home improvements or college tuition. Many homeowners have plenty of equity available, the interest rates and monthly payments on home equity loans are relatively low and the interest on the loans is usually tax deductible. Home equity is the difference between your home?s curren…
California has in place very good tools to help consumers get out of debt they may have gotten into inadvertently or may have been able to afford at one time, but can no longer due to changing income circumstances. One of these tools is debt consolidation. A California debt consolidation loan is not always the best option, but debt management consolidation may be just what the doctor ordered. Debt…
A home equity loan in California is a loan or line of credit in which the value of a home is used as collateral. There is more than one type of home equity loan, and what a person may choose is dependent upon the intended use of the loan. Some 100% home equity loans, or ?piggy back? loans, are often used by individuals who do not have any money to put down on a home. This type of loan allows them …
Everyone will, at some stage of their life, be in the market for a new or pre-owned car, and it is a good idea to determine exactly how that purchase will affect one?s financial situation before plunging ahead and buying a car. A car financing calculator is a free internet tool available to consumers who are researching purchasing an automobile and which, when used, will tell them things like how …
In recent times it has become nearly impossible for people with poor credit to secure a loan. That is why so many people are now getting a cash fast loan using online payday companies. These loans have become popular not only because they are available to people with all types of credit, but because they are also easy to apply for and the loan can be disbursed within a matter of hours. A fast onli…
If you have a house that has been vacant for awhile, there?s a good chance you may have been contacted a real estate investor offering some sort of sell house for cash deal. You may be wondering if the investor is for real or what the catch is. Here is what you need to know about cash for house offers before you make a decision. First of all, you need to know that the real estate investor is in th…
It is not uncommon for those enrolled in a college or university to obtain several student loans while earning their degree. Especially when attending graduate school, the number and dollar amount of these loans can be significant. In almost every instance where a student has multiple loans, a college loan debt consolidation may lower the collective interest rate and reduce the borrower?s overall …
College Loan Corporation is one of the top ten student loan providers in the United States and has served over 800,000 students since its founding in September 1999. Located in Las Vegas, Nevada, the company is responsible for over $10 billion in current student loans and is regarded as an innovator in the student loan industry. College Loan Corporation enjoys a highly-favorable reputation with st…
The average homebuyer would be unlikely to consider a Columbia home mortgage when getting ready to make that first time real estate investment in one of California?s largest cities. After all, Columbia is one of the smaller downtown San Diego neighborhoods that are best known for their commercial application. This has taken it off the radar of real estate buyers for a long time. In recent years re…
Business owners or purchasers often need commercial loans to finance their purchase or for working capital purposes. A commercial loan rate can be influenced by several factors that generally are linked to risk and term. The current rate environment is the most significant factor that can influence a commercial loan rate. Banking and finance companies all have their own cost of funds, usually link…
When the consumer gets ready to compare home equity loan features to those of a home equity line of credit (HELOC), it is apparent that initially both loan products look quite similar. Approval of a loan application is contingent on the home?s fair market value being above the outstanding balance of the current mortgage. The gap that exists between the assessed value of the home and the outstandin…
A new law signed by President Barack Obama on March 30, 2010 allows students and parents to consolidate federal loans for easier payment. The law, H.R. 4872, is known as the Health Care and Education Affordability and Reconciliation Act. Under this new law, students and parents of students that have educational loans will only be able to consolidate federal loans directly through the Federal Gover…
Though many people acquired Country Wide home loans through the Country Wide Mortgage Company, which made four hundred and eight billion dollars in loans in 2007 alone, the company was recently purchased by Bank of America. As a division of Bank of America, Countrywide is in a stronger position to work with consumers who are having difficulties making their home mortgage payments. Since the govern…
Debt consolidation home equity loans are still being touted as good solutions to the problem of mounting credit card debt. Given that they usually offer a fixed rate which is lower than most credit cards, they can save borrowers a great deal of money. There are two ways of tapping into one?s home equity for debt consolidation. The first is a traditional home equity loan, or second mortgage. The se…
When faced with a lot of bills, debt consolidation can be a solution. By consolidating all the bills into one, it is often possible to lower the total monthly outlay while keeping everything up to date. One way to get the money for such a consolidation is with a debt consolidation home mortgage loan. By using the equity in the house as collateral, these allow homeowners access to a large amount of…
Debt consolidation is one of the tools a consumer has at his disposal to address his adverse financial situation, and a debt consolidation loan calculator is that software program that lets a consumer play out possible debt consolidation scenarios to determine how much money he will save if he chooses to consolidate his debt. A consumer is a good candidate for debt consolidation if he has a number…
Obtaining a debt consolidation loan online may be the answer for consumers who are overwhelmed with debt obligations. An online debt consolidation loan is a loan used to pay off all or most of one?s debt at the same time. The loan will have lower interest rates and easier payments that the borrower can afford. Such loans are usually negotiated through debt consolidation consultants. A consultant w…
When debt starts to pile up and it seems like there are no answers, many people turn to debt consolidation loans for bad credit. Most people think that having poor credit immediately precludes them from any program that might provide help for their debt issues. The fact of the matter is that debt consolidation loans for bad credit do exist, and the programs can be especially helpful. When looking …
Those looking to find a mortgage in Des Moines, Iowa are likely aware of the community?s many benefits. It combines a strong workforce with a high quality of life and stable economy. Because lenders are also aware of these qualities, Des Moines is a great place in which to get a mortgage. Housing values in and around Des Moines have been extremely stable. Based on data from Zillow.com, as of March…
There are many different types of non secured loans available today. The easiest kind is a personal loan, which can be borrowed from family, friends, or co workers, with a simple I.O.U., which is just a signed repayment agreement. You need to be very careful when taking out this kind of loan, as not paying it back can cause huge conflicts between you and the lender. If you borrow a huge sum of mon…
Equity is the monetary value that accrues while a person is paying off their home mortgage, or anything else of value. This equity value can be tapped when cash is needed for home improvements, consolidation of bills, or for many other reasons. The determination to obtain an equity home loan mortgage should be based upon whether or not it will be beneficial to the homeowner, and not just because i…
With the many situations that combine to make life what it is at times, people often find themselves looking for a fast loan. In many instances they either need the money to make home improvements, pay medical bills, pay off an outstanding debt or improve their quality of life. Luckily, there are many options open to people that are looking for a fast loan. A secured loan is one such option and pe…
There are many factors that come into play that influence borrowers to consider the benefits of replacing their existing debt obligation with one that has new terms. In the complicated world of finance this initiative is known as refinancing. Refinancing can prove to be beneficial if the borrower actually gets what he or she intended and is not exposed to higher risks or larger total interest cost…
Use the Internet for finding and applying for the fastest home equity loan products. You can do this right at home from your own home computer. Sounds good? Now wait just a minute. You don?t want to rush things and apply right off the bat to the first listing company that comes up in your browser search. Just as with any other important thing you do in life, do not rush with making an application …
Next to finding the right partner to marry, purchasing a house can be one of the biggest decisions of your life. Researching a comparison mortgage rate is an important part of the process. There are several elements you must keep in mind before you begin your search. Loan rates can be confusing, and finding the type of loan that fits your lifestyle and plans can be even more so. Should you choose …
The most exciting benefit to a fixed interest home equity loan is that the loan interest rate will not change over the course of the loan term. Loans that have a variable rate, like ARM (adjustable rate mortgage) mortgage loans can rise and fall as the federal prime rate moves. With such low rates today, it is better to obtain a fixed equity loan instead of a variable rate equity loan in order to …
Mortgage insurance foa r house can be of two types .The first type is generally voluntary and is a kind of life insurance that pays the complete home insurance mortgage of the person who gets permanently disabled or dies. The second type is of mortgage insurance for house is much more popular and may be referred to as private mortgage insurance (PMI), personal insurance mortgages, or lender?s mort…
When a homeowner decides that they want to use the equity they have acquired in their property as collateral for a home loan, they naturally also want to locate the lowest home equity home loan rate. There are multiple resources to look at for home equity loans. Many lenders are now online and there still are the normal channels nearby at banks, credit unions and mortgage companies. Before contact…
Interest rates for home equity and refinance loans in this year have hit near record lows. Millions of people across the country are taking advantage of the situation to get rid of old high interest loans. A home equity mortgage refinance loan can replace an old 1981 high interest 16.63% loan with a low 4.5% interest equity home loan. With a difference like that, monthly payments could drop by sev…
Getting a home equity loan with bad credit is one way to bring up your credit score eventually. It may not happen immediately, because you are taking on a new loan and will have one or more new inquiries on your credit record. If your credit score is low because you have a lot of old debt, late payments and other problems, you can use home equity loan money to consolidate all your bills when you p…
When evaluating home equity loans you?ll be comparing and contrasting interest rates along with the terms and conditions to which each loan would require you adhere. Examples of some interest rates you might find in today?s market are 4.30% for a 15-year fixed home equity loan or 3.67% for a 5/1 adjustable home equity loan. The terms ?Fixed? and ?Adjustable? refer to one of the key terms and condi…
There are two financial products that may be of interest to persons who have built up equity value in their home property. These loan products are home equity loans and lines of credit. They are similar, but different. Both have home equity interest rates, which currently are very low. Equity is a financial term that means the value of the home that remains after deducting any amounts that are owe…
A home improvement mortgage loan makes sense when it adds both value and added pleasure to your home. Traditionally, the top five home remodeling or improvements that provide both value and pleasure are bathrooms, kitchens, interior rooms, windows and room additions. A kitchen remodel might cost on average $15,000 but will yield a value return as much as 88%. A good bathroom remodeling might add u…
Getting a home mortgage refinancing loan can be very beneficial financially. Even with the slightly higher interest rates and fees that refinancing a home mortgage can bring to the consumer, with careful planning it will work in the consumer?s favor. Homeowners who have built up equity in their property over many years may want to access that storehouse of value for many reasons. With very low int…
When you want to refinance a home loan, there are many new resources available to you over the Internet. This can speed up the process of finding the right lender and the best interest rates. With a quick browser search for home loan refinance interest rates, you can narrow down the facts on the lowest rates available in a hurry. Do another search for home loan refinancing and you will be presente…
There are many such home loan calculators available, both online and off line. They all provide answers as to how much a monthly payment will be, given a certain percentage of down payment and a certain percentage of interest rate on the loan. Also a part of the calculation is the number of years the loan will span; this directly affects the monthly payment amount as much as does the interest rate…
There are a number of different places to get a home loan mortgage quote. However, comparing quotes from two different sources can be challenging at times, even for two loans of the same class, such as 30-year fixed rate loans or 5/1 ARM loans. To make an accurate comparison and get a sense of which mortgage is worth pursuing, a potential borrower needs to focus on three things. By ascertaining if…
One tool that can be very helpful if you?re in the market to buy a home is a home mortgage calculator. These home mortgage calculators come in all sorts of shapes and sizes on the internet. Some are quite basic, while others provide options for calculating a number of related factors. A basic home mortgage calculator will ask you for the amount of your loan (Principal), the interest rate you expec…
Integrating a second mortgage into an already complicated financial situation can be complicated to say the least. However, with a simple and free online tool called a second mortgage calculator in your corner, you can take all the guesswork out of the equation. A second mortgage calculator helps you determine what your limits are as far as what you can actually afford so that your final decision …
If you are in need of a loan but have bad credit history, you are in a tough spot. Unsurprisingly, people with poor credit or no credit history are considered high risk for any loans. There are personal loans available to those who find themselves in this situation, but they come at much higher interest rates. Such loans are often called ?bad credit loans? and are meant to help a person who has ex…
Shopping for the best car loan rate can take a lot of work, but a savvy shopper will always be able to find the best rate by following a few simple rules. The first thing to do when shopping for the best car loan rate is check your credit report. This is important because the rate on any loan will be directly tied to your credit rating. Before shopping, you should know exactly what your credit r…
Due to the current mortgage crises, many people are unsure of how to find the top mortgage lenders. The top lenders share a set of characteristics. By looking for those characteristics, you can avoid a scam and find a lender that will provide you with the money you need to purchase a new home. The top mortgage lenders base their rates on the average interest rates. If a mortgage lender charges a r…
In most cases, the process of building a successful business will require a business loan at some point. Whether it?s needed to cover the initial start-up costs on the business of your dreams, to open up a second location, or to pay for a much-needed expansion on an existing location, loans make it possible to turn a good idea into all it ultimately needs to be. However, applying for one can be a …
It is not uncommon for a person or family to need additional money to get through the month. Maybe your home air conditioner needs replacing or you just want to consolidate your loans. For many, traditional loans are not an option because of credit scores and the economy. When this occurs, the only option may be to find a cheap secured loan. A secured loan is obtained by using personal property as…
Even when you do your very best to save for a rainy day, financial emergencies can still arise with little to no warning. Luckily there are a number of solutions out there designed especially to help you make it until your next paycheck finally rolls in. Payday loans are becoming especially popular as a means to cover financial emergencies or keep up with expenses in between paychecks. A payday lo…
If you are having trouble getting a normal loan because of your bad credit history, then you may want to consider an instant online payday loan. These loans were created to help people that are having financial trouble, and can?t borrow money from the normal avenue of lenders. Most people are rejected by lenders, because the lenders are afraid they will not get the loan repayment amount by the due…
Traditional fixed-rate mortgages have payments that are part principal and part interest. If your payment is $1000 per month, $800 of that may be interest and $200 principal. The lender gets their cut (the $800 in interest) while the borrower gets the benefit of creating equity in their home by paying down the outstanding balance (the $200 in principal). An interest-only mortgage allows borrowers …
The interest only loan is a relatively modern invention which has transitioned down from the world of commercial real estate. It is a loan in which the borrower is required to make only payments on the interest due on the loan, but not on the principal. It has the benefit of significantly reducing payments, but it also has the drawback that the principal is not being paid down and will need to be …
There is a great deal of discussion about the historically low rates on conforming mortgage loans. For those who are looking at a larger home and require a jumbo loan, though, financing is more challenging. Luckily, debt remains available at historically attractive levels. Freddie Mac and Fannie Mae are the quasi-governmental agencies who purchase mortgage debt in the United States and then resell…
Whether they are first time buyers trying to purchase the perfect starter home or long time homeowners desiring to refinance in order to lock in a lower interest rate, Little Rock mortgage customers have a variety of good options available to them. Before signing on the dotted line, it is a good idea to compare the services and rates offered by Little Rock mortgage providers, including banks, cred…
With loan interest rates at such low levels today, many people want to get away from their previous higher interest rate mortgages by getting those loans refinanced at these lower rates. This can be advantageous under certain conditions. When refinancing an existing mortgage, look into all the fine print to discover what hidden fees or penalties might be applied. Too high fees could make a particu…
The opportunities for people with poor credit to obtain loans are not what they used to be. Many finance companies that specialized in providing loans to people with poor credit have either gone out of business or have been bought out by larger companies that have stricter lending guidelines. The alternatives for people with bad credit to get the emergency funds they need have greatly decreased ov…
Now is the time to act if you have been considering using the equity in your home to obtain a large amount of cash with tax advantages and low interest rates. Get a low interest home equity loan and take care of fixing up the house, paying off bills, building an addition, going to college or buying a vehicle. Rates right now are as low as has been seen in decades and a far cry from the high intere…
Buying property of your own has long been considered a part of the ?American Dream,? and with home costs considerably lower than they were ten years ago, buying a home can be more than just a good investment. It can also be extremely affordable ? especially if you qualify for a low interest home loan. With a low interest home loan, you will find that you are able to keep the price of your home low…
Plan ahead if you want to get loans with low interest rates. Having an excellent credit record will help you obtain offers for credit at the lowest possible rates. Credit records are an indicator to lenders of how credit worthy a person may be, based on past financial history. Most reputable lenders that offer loans do take into consideration credit history when someone applies for a loan. If they…
Low rate home equity loans are a desirable financial product available to homeowners who owe less than the value of their home. Home ownership has always been an excellent investment and nothing says peace of mind than having that home paid off. However, due to the extremely high prices on real estate, few people own their homes outright. Mortgages stretch out to 30 years in length, which makes ho…
Michigan has been hit hard by recent economic downturns and the relocation of many American auto manufacturers to other states or even Mexico and Canada. As such, this has created a unique real estate market in which supply greatly outstrips demand. The immense amount of property available in Michigan means that the lending market is equally obtuse, with many banks refusing to offer loans at all, …
The credit crunch of 2008 and 2009 ended the era of freewheeling, totally unregulated mortgages. The idea that handing out a loan to just anybody was ?safe? because the house they bought with it was sure to surge in value was shown to be foolish at best, dangerous at worst. While certainly reasonable an, in the long run, good for business, this crunch means that first-time home buyers and persons …
Many people like to tell prospective real estate investors and home buyers that they have the discovered the magic formula of predicting changes in mortgage rates by studying mortgage rate history but, by and large, these magic formulas never pan out. If there is one thing to be learned by studying the history of mortgage rates, it is that they are extremely unpredictable. Just looking at a short-…
According to the Federal Reserve Bank?s historical data going back to April of 1971, as of the end of April of 2010, the average mortgage rate for a conventional fixed rate first mortgage was 5.10%. This is within 22 basis points of the lowest monthly rate recorded?4.88% in November of 2009. Given that the average mortgage rate over this almost 40 year period is 8.98%, today?s interest rates are e…
If you are financing a home, you may want to consider refinancing your mortgage. You can explore the options that are available to you by acquiring a mortgage refinance quote online. If you complete the simple applications online, you will be provided with offers in a few minutes and you will not have to pay a dime to compare the rates and fees online with multiple lenders. If you obtain a refinan…
When you are looking to accomplish something positive financially by taking out second mortgage refinancing of existing property, the positives can definitely be found. Among other things, you can access equity that may be tied up in your property at a time when you may need cash for investment purposes. The current economy is having its ups and downs. Right now, mortgage interest rates are down a…
Homeowners and potential home buyers are in a wonderful market for low interest rate mortgage loans. Over the past year, interest rates have only varied by about a half percent or less. Looking back 36 years, today?s rates are near historical lows with national mortgage rates around 5.05%. High interest rates in that period were 16.63%, in 1981. The current average national mortgage rate for 30 ye…
Searching for a new car can be a lot of fun. But, the decision on how to pay for it can make the fun come to a screeching halt. We won?t claim that financing a car can be fun, but we can provide information that might take the sting out of the process. There are a number of resources available for finding the best loan rate for your new car. Your bank or credit union should be your first stop in f…
Getting a New York home mortgage may not be as complicated as many consumers imagine. While it is true that New York home loan providers may have tightened requirements for obtaining money to purchase a home, if customers do their homework and follow a few simple guidelines, funding is still available for this purpose. The first place to begin searching for financing for a New York home mortgage m…
You can find the best NJ mortgage rates by consulting with thrift institutions, mortgage companies, commercial banks, lenders, brokers, and credit unions. Thrift institutions are financial institutions that obtain a majority of their funds from the public like savings and loan associations, credit unions, and savings banks. Since mortgage rates vary among lenders, you should consult with several l…
Your credit score is the first thing that many financial institutions look at when you want to take out a loan. This credit score is then used as a measuring stick that will indicate to potential lenders how likely you are to pay your loan and not become part of the list of default payers they have. In cases when there is no credit history then the financial institution does not have any credit re…
As you make payments against the principal balance on your home mortgage, you begin accumulating equity ? assuming, of course, that the value of your home hasn?t plummeted. Lately, major upheavals in the real estate market have caused many homeowners to become ?underwater? with their mortgages. As a result, traditional home equity loans ? which are often used to consolidate debt and to fund home i…
A no-equity loan is another name for a high loan-to-value home equity loan. Originating in the mid-to-late 1990s as a way for homeowners to borrow more than their homes were worth, no-equity loans have fallen out of favor with most banks due to the current housing and mortgage crisis. However, a handful of financial institutions still offer such an option to the cash-strapped or desperate?precisel…
If you own a home and you need to borrow money, you can apply for an online home equity loan. You can withdraw the equity you have and use the funds for anything you like such as home improvements, education fees, financing a new vehicle, consolidating debts, investments, purchasing a second home, going on vacation and such. Home equity loans offer fixed payments and low interest rates, and the in…
Shopping around for a home loan online ? home mortgage loan products are now part and parcel of the website offerings of virtually all major banks ? requires heightened savvy on the part of the consumer. In days gone by, the neighborhood banker would act as part adviser and part salesman in the process of obtaining a home loan. Mortgage online opportunities ? even though they are convenient and to…
In this age of technology, many banks have begun to offer ways to get loans online. Instead of going to a banking office and waiting long hours to see if you?re approved for a loan, you can do all the hard work from the comfort of your home and await a reply via email or telephone call with your approval status. In order to inquire about a specific loan, visit your bank of choice?s website. If the…
Military personnel face a unique set of challenges in obtaining and maintaining consumer credit. Extended overseas tours of duty, frequent moves, and unexpected deployments can cause damage to credit ratings and make it more difficult to obtain additional credit or build a solid credit history. Pioneer Military Lending can help members of the U.S. Army, Navy, Air Force, Marines, Coast Guard and ce…
When it comes to shopping for the best private consolidation loans, former students must first understand the marketplace. There are plenty of options in this industry, as the internet has truly opened the doors to companies that might have otherwise flown under the radar. As a consumer, you have the power and the leverage when looking for private consolidation loans. Most students have a combinat…
If you are purchasing a home and need a mortgage loan, there are various steps that should be taken. Also, in order to get the best loan for your particular needs, you should consult several lending institutions and be aware of what they will request of you when documenting your application. If you are a veteran of the U.S. armed forces, you may qualify for a Veterans home loan. No downpayment is …
Having a bad credit rating due to previous problems managing credit should not stop you from refinancing your car loan. There are many places to find a bad credit auto refinancing loan, but some are much better than others, such as credit unions. There are a couple problems inherent in trying to find loans when you have a bad credit history. One thing is your natural fear that a bad credit record …
In today?s economy, good home mortgage refinance rates are quite low, approaching 5% or less if you have excellent credit. To be categorized as having excellent credit, your FICO (Fair Isaac Corporation) score needs to be between 750 and 850. The FICO score is a complex weighted calculation of someone?s creditworthiness, based on past and current financial activity. An average FICO score is 723 po…
Most mortgage holders will refinance their mortgage at least once during the time they hold it. Even the best interest rates are subject to change, and mortgages can?t wait forever. Often a person must accept a higher interest rate than they?d like simply so they can take advantages of a job in a new town or so that they have enough room for new family members. As such, when interest rates change,…
You?ve done your searches, found a lender and now you are ready to refinance your loan online. What comes next? If you are experienced with making transactions online, you already are familiar with certain precautions necessary when conducting personal business online. If not, there just a couple things to know and to be watchful about to protect your identity and to assure that your transactions …
When some people begin to explore refinance loan rates, it?s because they have an adjustable rate mortgage that is about to reset and they are concerned that the amount of their monthly payment could increase exponentially. Others look for more information about a refinance loan rate because they applied for a mortgage at a time when they had a lower credit score, and they are aware that there are…
Expectations and realities are sometimes vastly different from each other. What one expects to find when looking for a refinance mortgage interest rate is a reasonable low rate. Actually, today?s refinance mortgage interest rates are very, very low. They are just above the interest rates for first mortgages. The realities of finding those low interest rates can become unexpected when you take a cl…
The housing boom at the beginning of the last decade was financed by many adjustable rate mortgages (ARMs) and balloon mortgages. With balloon mortgages about to burst wide open, and with the excellent low interest rates now available for fixed rate mortgages, many people are looking to refinance their mortgages. This has generated a large industry of companies who offer mortgage leads to real est…
Many home owners make the mistake of using credit cards for long-term debt when a home equity loan could provide much needed cash at a much better interest rate. Additionally, a refinancing equity loan can help homeowners out of a credit card debt situation that already exists. For those who don?t understand the concept, equity is the difference between how much you owe on your original mortgage a…
Are you ready to settle down in another great metropolitan area and buy some real estate in Seattle? Mortgage loans make it possible, but this Washington city might put anything the investor or residential customer knows about the lending industry on its head. For example, the median annual household income has increased significantly over the course of the past decade. Starting off in 2000 with a…
The cost of home ownership is very high; most people can only purchase a home by obtaining a mortgage. Sometimes a second mortgage is also taken out by the homeowner. A second mortgage home loan is just what it sounds like; it is another secured lien against the property. In the legal arena, a second mortgage is subordinate to the first mortgage on the same property. Second mortgages present a hig…
The redistribution of assets is one of the most important aspects of our modern economy, simply due to the conventional device of the loan. As we have seen in recent years, loans can metamorphose into agreements to repay money, property or even other loans. Even with financiers having the ability to propagate loans of dubious character and form, the basic tenets of borrowing will remain to be: I…
There are many people trying to save money any way they can these days. One thing that can help put some extra money back in your pocket each month is a debt consolidation loan. These loans can include secured loan consolidation or unsecured loan consolidation. While many people use these loans to pay off unsecured debts such as credit cards, it is possible to consolidate secured debt as well. Sec…
The Texas home equity loan laws are fairly new, just passed in 1997 through a constitutional amendment, and they are backed by very strong consumer protections. The competition for customers who want home equity loans is very active, and these loans are in demand even though Texas interest rates that average 6.24% to 8.25% are a little higher than the national average of 5.16% for home equity inte…
The current home mortgage rates are excellent, especially for new buyers. The current mortgage interest rate is at its lowest in 12 years. Part of the reason for this is that mortgage rates are pegged to the federal prime interest rates, which also are at all time lows. The best type of home mortgage to get would be one with a fixed interest rate, where you lock in the current home mortgage rate f…
The current home mortgage rates are excellent, especially for new buyers. The current mortgage interest rate is at its lowest in 12 years. Part of the reason for this is that mortgage rates are pegged to the federal prime interest rates, which also are at all time lows. The best type of home mortgage to get would be one with a fixed interest rate, where you lock in the current home mortgage rate f…
Since the subprime mortgage crisis, American consumers have grown even more committed to intelligently securing loans. With the amount of taxpayer money which has gone into home loan providers, Americans have heightened their demand for not just access to home loans, but the personal ability to analyze current home loan rates. Analyzing current home loan rates is like watching stocks or exchange r…
For the right price, even with bad credit, most people can obtain a loan to buy a new or used car. Bad credit makes a difference in the cost of a loan, the terms of a loan, and the time and effort to obtain a used car loan. Bad credit in the current economic climate makes financing a vehicle more challenging than ever, even at a time when car dealers are more anxious than ever to move inventory. P…
Honorably discharged veterans have a distinct advantage when they are looking for financing or refinancing a home. Their honorable service qualifies them for government backed VA loans that have excellent rates today. VA loan rates have always been advantageous for qualifying veterans, with rates as low or lower than the best conventional mortgages for persons with good credit. Today, VA loan rate…
The government backed VA loan refinance program offers special protections for veterans and their surviving spouses. It is an act of gratitude for the loyal and honorable service that veterans have given to their country. Being thoughtful of the veterans, the government added some protections and restrictions to VA loan refinancing. The loans are available to veterans and to certain qualifying spo…
Veterans can take advantage of their special status and privileges earned by their service to the country with low guaranteed VA loans rates and streamlined VA mortgage refinance service. Under these benefits, veterans do not have to pay any closing costs for their refinanced mortgage. With most VA loans, there is a large amount of documentation that must be submitted. Veterans must provide income…
Credit Union or bank ? Check the interest rates for used car loans offered by banks and credit unions in your area.
One source of income for older homeowners is an arrangement known as a reverse mortgage. Reverse mortgages give older homeowners a chance to use the accrued equity in the home as collateral and allow the homeowners to continue to live in the home while receiving a lump sum payment or an annuity to help cover the costs of retirement or any other expenses. Reverse mortgages are available only to hom…
With the decrease in mortgage rates, millions of people consider refinancing their homes to save money on their home costs. The truth is, most of these people are signing into new mortgages that will end up costing them more in the long run. When renegotiating your mortgage to take advantage of lower interest rates, take a close look at refinancing closing costs to ensure you are not paying more t…