By Martin Lukac
The sense of equity generates from the amount judgment of your investment at the time of purchasing or refurnishing a property. As the value of the fixed assets at most of the time matures, so also the equity value of an asset increases. For that reason, the value of your home has increased from the time you have purchased the property. As the owner of the house, now you own a certain property value that if transferred into a liquid form like money, can serve various purposes for you. A fixed rate home equity loan can exactly do this job for you.
A home equity loan is a kind of loan where you use the equity of your home as the security or collateral of the loan. If you fail to pay off the loan amount, your lender may encroach into your home. The difference between a FRM and a fixed rate home equity loan is that, the second one is generally of a short term period and in many cases a fixed rate home equity loan is considered as tax deductible upon your personal tax returns.
A home equity loan can be of two types -
(i)Standard Home Equity Loan: This is also known as close-end home equity loan, or term loan or a second mortgage installment loan. This type of loan generally comes up with fixed rate.
(ii)Home Equity Line of Credit: This type of loan is also called a revolving credit loan. This generally comes up with an adjustable rate loan.
This difference between a normal home equity loan with fixed interest rate and a home equity line of credit elongates to the point of payment structure. In case of fixed rate home equity loan, you can avail the amount of money for a certain period of time, and you have drawn the entire amount at the time of the closing. But in the second case, the loan amount is available as a series of lien. If you are in a need of urgent fund of large amount, then it is advisable to go for the standard home equity loan with fixed interest rate, rather than home equity line of credit loan.
A fixed rate home equity loan is generally comes up with a tenure period of 15 years. With a reduced amortization, the home equity loans closes with a due balloon payment. This huge payment is advised to avoid by refinancing or by paying above the minimum payment line. The amount of loan depends on many factors like your income, credit history, the appraised value of the collateral etc.
Generally, a fixed rate home equity loan offers you to borrow on the 100% equity value of the home. Sometimes in case of over-equity loans, you can borrow above the equity value of your home. For example, the 125% home equity loan provides you the opportunity to borrow 25% extra amount of money on the equity of your home. Generally, over-equity loans come up with high interest rates.
Fixed rate home equity loan charges you some fees to along with its interest rate. Whenever, you are opting for a fixed rate home equity loan, scan every pros and cons and then choose the best option available to suit your need.
#1 Home Equity provides financial marketplace connects consumers with multiple home equity loan companies that compete for your business. For more information please visit Fixed Rate Home Equity Loan
Article Source: http://EzineArticles.com/?expert=Martin_Lukac
Thursday, October 4, 2007
Monday, September 17, 2007
Cheap Unsecured Loans refer the Money without Pledging
by Alex Jonnes
Due to serious threat to property, across the country, tenants and other non-homeowners started constituting a majority of borrowers of cheap unsecured loans. However, they are not as fortunate as their counterparts with homes. Tenants have to choose unsecured forms of loans as the only options available. Those with homes turn down secured loans are offered cheap unsecured loans in order to save their homes. Ironically, tenants may however have to be disappointed with some lenders, since they make it necessary for the borrowers to have a house, even though it is not accounted for the collateral purposes.
Cheap Unsecured Loans are kinds of loans which are not secured against the assets of the borrower. Generally, these types of loans pose more risk to the lenders concerned, hence they may ask for more down-payment and monthly interest rates. In addition to this, cheap unsecured loans also have a bit higher APR (annual percentage rate) than its counterpart loans i.e., secured loans.
There are all sorts of ways individuals can find themselves with what is known as bad credit. Maybe, you were late with payments on a loan, got into arrears with your loan, missed payments on your credit cards, had a CCJ registered against you, missed some payments on your mortgage, defaulted on a finance agreement, were the subject of an IVA, or perhaps you have previously been declared bankrupt. Despite all these, the lending authority has taken a generous step forward to make it financially under the provisions of cheap unsecured loans.
For cheap unsecured loans, applicants do not require providing any guarantee, so there is more risk for the lender and less for you - but you still have some risk because you have to pay the loan back, and lenders can still take some legal action against you to recover their money. The amount of money you can borrow on cheap unsecured loans is usually limited by your ability to repay.
In nutshell, cheap unsecured loans are cost-effective monetary provisions for tenants and other homeowners who do not wish to let their property at stake. Followings are some benefits of cheap unsecured loans:
* Good amount ( ranges in between£3, 000-£25, 000)
* Cost-effective
* Extendable repayment period up to 10 years
* Unlimited utilities( home to debt consolidation)
* Adverse credit acceptable
* Fast processing online
* Still confidential
* Instant money provision
Alex Jonnes is associated with Secured Unsecured Loans UK. He is Masters in Business Administration and writes on various finance related topics. To find cheap unsecured loans, unsecured loans, secured loans, unsecured loans uk, holiday loans visit http://www.securedunsecuredloansuk.co.uk/
Due to serious threat to property, across the country, tenants and other non-homeowners started constituting a majority of borrowers of cheap unsecured loans. However, they are not as fortunate as their counterparts with homes. Tenants have to choose unsecured forms of loans as the only options available. Those with homes turn down secured loans are offered cheap unsecured loans in order to save their homes. Ironically, tenants may however have to be disappointed with some lenders, since they make it necessary for the borrowers to have a house, even though it is not accounted for the collateral purposes.
Cheap Unsecured Loans are kinds of loans which are not secured against the assets of the borrower. Generally, these types of loans pose more risk to the lenders concerned, hence they may ask for more down-payment and monthly interest rates. In addition to this, cheap unsecured loans also have a bit higher APR (annual percentage rate) than its counterpart loans i.e., secured loans.
There are all sorts of ways individuals can find themselves with what is known as bad credit. Maybe, you were late with payments on a loan, got into arrears with your loan, missed payments on your credit cards, had a CCJ registered against you, missed some payments on your mortgage, defaulted on a finance agreement, were the subject of an IVA, or perhaps you have previously been declared bankrupt. Despite all these, the lending authority has taken a generous step forward to make it financially under the provisions of cheap unsecured loans.
For cheap unsecured loans, applicants do not require providing any guarantee, so there is more risk for the lender and less for you - but you still have some risk because you have to pay the loan back, and lenders can still take some legal action against you to recover their money. The amount of money you can borrow on cheap unsecured loans is usually limited by your ability to repay.
In nutshell, cheap unsecured loans are cost-effective monetary provisions for tenants and other homeowners who do not wish to let their property at stake. Followings are some benefits of cheap unsecured loans:
* Good amount ( ranges in between£3, 000-£25, 000)
* Cost-effective
* Extendable repayment period up to 10 years
* Unlimited utilities( home to debt consolidation)
* Adverse credit acceptable
* Fast processing online
* Still confidential
* Instant money provision
Alex Jonnes is associated with Secured Unsecured Loans UK. He is Masters in Business Administration and writes on various finance related topics. To find cheap unsecured loans, unsecured loans, secured loans, unsecured loans uk, holiday loans visit http://www.securedunsecuredloansuk.co.uk/
Friday, August 3, 2007
Medical School Loans Sets a Higher Standard in Private Medical Student Loan Consolidation
By: Medical School Loans
After all of your years of hard work in medical school, unfortunately, upon graduation you are rewarded with the harsh reality that all of the medical student loan debt you have accrued now has to be paid off. This is not an isolated incident by any means. Medical school loan debt is a growing problem. The Association of American Medical Colleges recently reported that over the past two decades, the cost of private medical school has increased by 165% and the cost of public medical school rose by 312%. It is no wonder that many medical students have had to take out numerous private medical student loans to compensate for the rising cost of schooling. The good news is that there is a solution to dealing with the debt from medical school. Let Medical School Loans help you save thousands of dollars off of your loans by consolidating your private medical student loans.
Consolidation will not only save you money, but also time and energy. Consolidating your outstanding private student loans with Medical School Loans will allow you to have just one loan with just one low monthly payment, regardless of whether or not your loans are with multiple lenders. This saves you the hassle of making multiple payments every month.
Raising the Bar in Medical Student Loan Consolidation
Medical School Loans is a leader in medical school finance and is dedicated to helping borrowers like you realize all of your educational goals by helping you meet your loan and consolidation needs. We know that as a doctor or medical school student, your student loan debt is obviously much larger than that of the average student, so we work hard to process your consolidation quickly and accurately to start saving you money ASAP! The specialized services that Medical School Loans provides are only available to doctors and medical students. By concentrating our efforts on only those in this prestigious field, we are able to offer a higher standard of loan and consolidation services.
The Advantages of Consolidating with Medical School Loans
Medical School Loans offers competitive low interest rates and fees as well as flexible repayment options on private medical student loan consolidations. We also offer appealing borrower benefits, such as an immediate 0.25% interest rate reduction when you enroll in our automated debit payment program. Consolidating your private medical student loans with Medical School Loans is advantageous in that we offer low, variable, interest rates with no pre-payment penalties; a thirty-year maximum repayment term, regardless of the balance on your loan; and fast, dependable customer service from our extremely knowledgeable loan specialists. By consolidating with Medical School Loans, you could literally be saving yourself from paying thousands of unnecessary dollars over the life of your loan, all the while taking away the needless worry of making multiple payments to multiple private student loan lenders.
Another advantage to consolidating your private student loans with Medical School Loans is that by managing your student loan debt with consolidation, you are actually improving your credit rating and financial status. This will make you more appealing to lenders when you want to take out or consolidate other loans of any kind in the future.
Eligibility for Private Medical Loan Consolidation
At Medical School Loans, we are able to consolidate your private medical student loans that were used to cover educational expenses such as the costs associated with tuition and fees, room and board, books, etc. We can even consolidate private student loan costs associated with residency expenses.
In order to consolidate your private medical student loans with Medical School Loans, you must be a U.S. citizen or be an eligible non-U.S. citizen, which entails having a Student Visa, an F-1 Form or an I-20 Form. You must also be at least 18 years of age at the time of initiating the application, have a minimum of $10,000 in U.S. issued private student loan debt, be in the repayment period of private student loan debt at time the application is completed and finally, be credit worthy.
Time is Money, so Our Application Process is Fast and Easy!
At Medical School Loans, we know that as a doctor or medical student, your time is very valuable. That is why we make our application process to consolidate your private student loan debt quick and simple. To start the process today, simply call (800) 680-7197. With just a short phone call, our dedicated agents will be able to determine your eligibility for a private loan consolidation with us. Within minutes, we can do a quick credit check and then our agents will be able to tell you your interest rate, your consolidation loan limit, the amount of your origination fee, and other information on our money-saving borrower benefits.
When you begin making payments on your private medical loan consolidation, you will have the opportunity to receive our Medical School Loans borrower benefit of an immediate 0.25% reduction off of your already low interest rate. This is available when you choose to make your monthly payments with our automated debit program.
Save Even More with a Cosigner
Medical School Loans allows borrowers to use a cosigner on their private medical student loan consolidation. This will allow you, the borrower, to reduce your interest rate by up to .75% on your private consolidation. However, you must qualify for the private medical school loan consolidation based on your own credit worthiness, prior to the cosigner being permitted.
You are in Control of Your Repayment Options
Medical School Loans has three flexible repayment options that allow you to choose between standard principal and interest payments, or graduated interest-only payments. Our graduated repayment options help you to keep your payments as low as possible for the longest amount of time. By choosing one of our graduated interest payments and extending your payment term, you could reduce your monthly student loan payments by almost half! You have the choice to change repayment options at any time, so you may choose to start with a graduated repayment plan, and then change to the equal repayment plan at a later date or visa versa.
Your Payment Options include:
* Equal Payments
This is the standard option in which both the interest and principal will be paid equally over the life of the loan. Your monthly payment amounts will not change over the life of the loan.
* Select 2/Graduated Payments
With this option, you will be allowed to make interest-only payments for the first two years of repayment. After two years, the payments will increase to include equal installments of both the interest and principal for the remaining term of the loan.
* Select 5/Graduated Payments
This option allows you to make interest-only payments for the first five years of repayment. During the third through fifth years of the loan, the payments will increase to include only a portion of the principal with the interest. Upon the sixth year, your payments will once again increase to include both the principal and interest equally throughout the remainder of the loan.
Again, there are no penalties for early repayment and any amounts that are paid in addition to the minimum monthly payments will automatically be applied to the principal balance of the loan. Also, all repayment options offer a 30-year maximum repayment term.
Start Saving Now
It does not take an M.D. to realize the many benefits to choosing to Medical School Loans for all of your consolidation needs. We look forward to helping you save precious time and money by consolidating with us. Our educated agents are ready to help you start your private medical student loan consolidation application, so call (800) 680-7197 today!
Article Source: http://www.superfeature.com
Medical Student Loan Consolidation
After all of your years of hard work in medical school, unfortunately, upon graduation you are rewarded with the harsh reality that all of the medical student loan debt you have accrued now has to be paid off. This is not an isolated incident by any means. Medical school loan debt is a growing problem. The Association of American Medical Colleges recently reported that over the past two decades, the cost of private medical school has increased by 165% and the cost of public medical school rose by 312%. It is no wonder that many medical students have had to take out numerous private medical student loans to compensate for the rising cost of schooling. The good news is that there is a solution to dealing with the debt from medical school. Let Medical School Loans help you save thousands of dollars off of your loans by consolidating your private medical student loans.
Consolidation will not only save you money, but also time and energy. Consolidating your outstanding private student loans with Medical School Loans will allow you to have just one loan with just one low monthly payment, regardless of whether or not your loans are with multiple lenders. This saves you the hassle of making multiple payments every month.
Raising the Bar in Medical Student Loan Consolidation
Medical School Loans is a leader in medical school finance and is dedicated to helping borrowers like you realize all of your educational goals by helping you meet your loan and consolidation needs. We know that as a doctor or medical school student, your student loan debt is obviously much larger than that of the average student, so we work hard to process your consolidation quickly and accurately to start saving you money ASAP! The specialized services that Medical School Loans provides are only available to doctors and medical students. By concentrating our efforts on only those in this prestigious field, we are able to offer a higher standard of loan and consolidation services.
The Advantages of Consolidating with Medical School Loans
Medical School Loans offers competitive low interest rates and fees as well as flexible repayment options on private medical student loan consolidations. We also offer appealing borrower benefits, such as an immediate 0.25% interest rate reduction when you enroll in our automated debit payment program. Consolidating your private medical student loans with Medical School Loans is advantageous in that we offer low, variable, interest rates with no pre-payment penalties; a thirty-year maximum repayment term, regardless of the balance on your loan; and fast, dependable customer service from our extremely knowledgeable loan specialists. By consolidating with Medical School Loans, you could literally be saving yourself from paying thousands of unnecessary dollars over the life of your loan, all the while taking away the needless worry of making multiple payments to multiple private student loan lenders.
Another advantage to consolidating your private student loans with Medical School Loans is that by managing your student loan debt with consolidation, you are actually improving your credit rating and financial status. This will make you more appealing to lenders when you want to take out or consolidate other loans of any kind in the future.
Eligibility for Private Medical Loan Consolidation
At Medical School Loans, we are able to consolidate your private medical student loans that were used to cover educational expenses such as the costs associated with tuition and fees, room and board, books, etc. We can even consolidate private student loan costs associated with residency expenses.
In order to consolidate your private medical student loans with Medical School Loans, you must be a U.S. citizen or be an eligible non-U.S. citizen, which entails having a Student Visa, an F-1 Form or an I-20 Form. You must also be at least 18 years of age at the time of initiating the application, have a minimum of $10,000 in U.S. issued private student loan debt, be in the repayment period of private student loan debt at time the application is completed and finally, be credit worthy.
Time is Money, so Our Application Process is Fast and Easy!
At Medical School Loans, we know that as a doctor or medical student, your time is very valuable. That is why we make our application process to consolidate your private student loan debt quick and simple. To start the process today, simply call (800) 680-7197. With just a short phone call, our dedicated agents will be able to determine your eligibility for a private loan consolidation with us. Within minutes, we can do a quick credit check and then our agents will be able to tell you your interest rate, your consolidation loan limit, the amount of your origination fee, and other information on our money-saving borrower benefits.
When you begin making payments on your private medical loan consolidation, you will have the opportunity to receive our Medical School Loans borrower benefit of an immediate 0.25% reduction off of your already low interest rate. This is available when you choose to make your monthly payments with our automated debit program.
Save Even More with a Cosigner
Medical School Loans allows borrowers to use a cosigner on their private medical student loan consolidation. This will allow you, the borrower, to reduce your interest rate by up to .75% on your private consolidation. However, you must qualify for the private medical school loan consolidation based on your own credit worthiness, prior to the cosigner being permitted.
You are in Control of Your Repayment Options
Medical School Loans has three flexible repayment options that allow you to choose between standard principal and interest payments, or graduated interest-only payments. Our graduated repayment options help you to keep your payments as low as possible for the longest amount of time. By choosing one of our graduated interest payments and extending your payment term, you could reduce your monthly student loan payments by almost half! You have the choice to change repayment options at any time, so you may choose to start with a graduated repayment plan, and then change to the equal repayment plan at a later date or visa versa.
Your Payment Options include:
* Equal Payments
This is the standard option in which both the interest and principal will be paid equally over the life of the loan. Your monthly payment amounts will not change over the life of the loan.
* Select 2/Graduated Payments
With this option, you will be allowed to make interest-only payments for the first two years of repayment. After two years, the payments will increase to include equal installments of both the interest and principal for the remaining term of the loan.
* Select 5/Graduated Payments
This option allows you to make interest-only payments for the first five years of repayment. During the third through fifth years of the loan, the payments will increase to include only a portion of the principal with the interest. Upon the sixth year, your payments will once again increase to include both the principal and interest equally throughout the remainder of the loan.
Again, there are no penalties for early repayment and any amounts that are paid in addition to the minimum monthly payments will automatically be applied to the principal balance of the loan. Also, all repayment options offer a 30-year maximum repayment term.
Start Saving Now
It does not take an M.D. to realize the many benefits to choosing to Medical School Loans for all of your consolidation needs. We look forward to helping you save precious time and money by consolidating with us. Our educated agents are ready to help you start your private medical student loan consolidation application, so call (800) 680-7197 today!
Article Source: http://www.superfeature.com
Medical Student Loan Consolidation
Sunday, July 29, 2007
Make Sure You Have A Safety Net To Fall Back On, With Payment Protection
by Simon Burgess
If you have loans or credit cards then you would be wise to give some thought to taking out payment protection insurance to cover the monthly repayments of your commitments. While right now you might be able to safely pay them without a struggle or even on the other hand, you might have already stretched your outgoings to their limit, if you were to come out of work for a period of time then you would still have to keep up the repayments.
Payment protection insurance (PPI) is taken out to ensure that you won't have to struggle if the worst comes to the worst. It can give you peace of mind and time to get back on your feet and back to work should you be unable to work due to having an accident, long term sickness or involuntary redundancy.
In the majority of cases the cover is offered by the lender at the time of taking out the loan or credit card, and, shockingly, in some cases it is wrongly just added onto the cost of the loan without a consumer even knowing until it's too late. When you get a quote for a loan you should always ask if the repayments include payment protection insurance. If you want the protection then ask that it be taken off the quote and instead go to an independent provider for your cover.
This is one of the problems surrounding payment protection insurance. The majority of consumers don't even realise that they can shop around and go independently to a specialist provider in order to get the cheapest premium and quality product. It is not compulsory to buy it from your loan provider.
By going to an independent provider you can shave thousands off the cost you pay for the peace of mind of having payment protection. Another factor when deciding if the cover would be to your advantage is to read the small print of the policy. There can be many exclusions in a policy which can stop you from making a claim so double check that the cover is right for you and your circumstances.
About the Author
Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of low cost payment protection , mortgage payment protection insurance and loan payment protection insurance.
If you have loans or credit cards then you would be wise to give some thought to taking out payment protection insurance to cover the monthly repayments of your commitments. While right now you might be able to safely pay them without a struggle or even on the other hand, you might have already stretched your outgoings to their limit, if you were to come out of work for a period of time then you would still have to keep up the repayments.
Payment protection insurance (PPI) is taken out to ensure that you won't have to struggle if the worst comes to the worst. It can give you peace of mind and time to get back on your feet and back to work should you be unable to work due to having an accident, long term sickness or involuntary redundancy.
In the majority of cases the cover is offered by the lender at the time of taking out the loan or credit card, and, shockingly, in some cases it is wrongly just added onto the cost of the loan without a consumer even knowing until it's too late. When you get a quote for a loan you should always ask if the repayments include payment protection insurance. If you want the protection then ask that it be taken off the quote and instead go to an independent provider for your cover.
This is one of the problems surrounding payment protection insurance. The majority of consumers don't even realise that they can shop around and go independently to a specialist provider in order to get the cheapest premium and quality product. It is not compulsory to buy it from your loan provider.
By going to an independent provider you can shave thousands off the cost you pay for the peace of mind of having payment protection. Another factor when deciding if the cover would be to your advantage is to read the small print of the policy. There can be many exclusions in a policy which can stop you from making a claim so double check that the cover is right for you and your circumstances.
About the Author
Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of low cost payment protection , mortgage payment protection insurance and loan payment protection insurance.
Thursday, July 26, 2007
How to Obtain a Home Loan with Bad
by Rony Waller
How do you obtain a good mortgage loan with bad credit? We hear this query being asked relatively more often. And commonly, the answer we obtain isn't the reply we like to hear. Yes, we're aware that a poor credit rating does give us access to the best rates, but there are methods where we can work our way into a mortgage loan deal which, in the long run, isn't bad at all. Options like no-money-down home loans, home equity loan or second mortgage home equity loan, along with a few others are among the best selections available.
The initial thing you must do is find out more about these loan alternatives for bad credit and see which among them will be ideal for your situation. And when you believe you are ready, get yourself the perfect bad credit mortgage broker you may find to assist you. Professional mortgage lenders for bad credit are relatively hard to come by. You should be careful with who you're dealing with and make sure he is dependable. If he requests for cash in advance of a mortgage, probe further. He might be one of those so-called lenders who are only out to con you.
One have to comprehend that a mortgage for bad credit commonly has higher interest charges as well as closing costs, others even entail a pre-payment penalty. This could be tricky. As much as possible, shun away from them. If you couldn't, you may want to go for the briefest term probable, like six months to one year. A bad credit loan mortgage rate does not have to be something that will end you up in the gutter. If you know your way around, you're likely to find what you're looking for. You may not find the lowest rates there is with an impaired credit, yet you would certainly arrive at something that is fitting for the conditions you are in.
Mortgage lender rates differ: different lenders, various States, different laws, various client consitions. An equity home loan mortgage rate, for example, could vary on a case to case basis. You may like to settle for a fixed charge if you believe you could afford it. This way, you will not be experiencing countless surprises as the years go by especially because this type of loan can place your home at risk. Study the various types of home loans as well as current home loan mortgage fees so you will have a bird's eye view of what you are entering into. It's always better to be ready.
The concept is not to be brash. Regardless of how awfully you need a mortgage and how tempting the offers are despite a bad credit rating, you have to have adequate patience to sort through the things that you are supposed to know. To avail of a good mortgage loan bargain, you need to be meticulous. You can search online for mortgage loan providers and loans that may simply work for you and examine them. Who knows? You might just discover the perfect refinance mortgage interest rate in the Internet while checking them out. Patience is a value.Wednesday, July 25, 2007
Online Personal Loan Bliss
By: Gavriel B Shaw
Can you imagine personal loan bliss? There would be fast quotes without fuss, deals for good or even terrible credit ratings, low rates of course, and quick access to the money.
So is fast and easy personal credit available to you personally? Do you have personal debt and perhaps could do with good advice on debt consolidation?
Personal loans are a great way to give yourself some breathing space, afford a few of the nice things you'd love to have, and make a big difference in the quality of your life.
Warning: There are some important considerations when searching for online personal loans. Here's what you need to know:
As revealed on recent BBC news in the UK there are some high street banks giving loans that people simply can not afford to repay. When doing your own online personal loan searches who can you trust?
You will need to be lucky enough to stumble on a loan brokerage that searches objectively through a wide range of finance lenders.
What are online personal loans?
Personal loans are usually taken by a single individual for personal rather than business loans. Online personal loans allow you to find loans quickly via online loan searches.
What is your loan to be used for? Home improvements to holidays, cars to personal things such as cosmetic surgery. Whatever the purpose of your loan, a personal loan will allow you that flexibility.
Perhaps you have bad credit and are worried about getting a good personal loan. There are large loan brokerages available that will give you good secured homeowner loans even with poor credit. Your loan rate is also dependent on your income level and current debt.
Online personal loans searches are simply the first step in finding a solid deal from a reputable lender. You can then call and speak to someone by phone at the company you find, or simply fill in there online loan forms to get a fast, accurate and well researched loan quote.
Instant Online Loans
Stay on the look out for deals that look too good to be true. If the quote is given to you without a full list of personal questions about your circumstances then the quote you get will only be a very rough estimate and in no way should form the basis of your decision. You will need to get a fully accurate quote to be fully informed as to your options or what rates are available to you.
Fact: Most online loan companies actually use a very small panel of actual lenders. So here are a few extra tips on how to choose a loan quote service provider.
Here's the thing. If you have poor credit then if you're lucky enough to find a lender that will give you a loan, you'll still end up paying a higher interest rate than if you had good credit. However, depending on the rest of your circumstances and the loan brokerage you find, it might not actually be too far off from a good credit loan quote.
Fast loan services are available. In fact, you can have your money within days of starting your loan search. You'll hear back from an efficient lender the same day you fill in a quote application form.
Different financing options are available. A fast online personal loan can be an unsecured cash amount, or you might be eligible for a secured loan (if you own a home) and so get better loan rates.
Isn't it overwhelming? All the personal finance research options you have at your finger tips via the Internet. When you land across a highly reputable loan brokerage company you will be able to go through the exact details of what options are available to you with someone via the phone. Enjoy the call and know that it is in your best interests. To get the ball rolling you can fill in their website quote forms. But the power of the Internet has put a ton of information at finger tip reach, if only you can find someone to help guide you once you have done some research.
Source: http://www.superfeature.com
Home Loan Guaranty
What Is a VA-Guaranteed Loan?
A VA-guaranteed loan can be used to:
- buy a home, a manufactured home, or a condominium
-buy a lot for a manufactured home
-build, repair, or improve a home (including energy efficient improvements)
-refinance an existing loan
A VA-guaranteed loan offers a number of safeguards and advantages over a non VA-guaranteed loan. For example, the interest rate is competitive with conventional rates with little or no down payment required. VA-guaranteed loans are made by private lenders, such as banks, savings and loan associations, and mortgage companies. As with any loan, you must apply directly to the lender. Your real estate broker can assist you in finding a lender.
- When the loan is approved, VA will guarantee part of it. The amount of VA's guaranty usually depends on the size of the loan. This guaranty protects the lender against loss up to the amount guaranteed by VA. The largest guaranty that VA can give is an amount equal to 25% of the Freddie Mac conforming loan limit for single-family residences. These limits are subject to change each year.
Who Is Eligible?
Generally, the following persons are eligible: - veterans who were discharged since 9/16/40, under other than dishonorable conditions
- military personnel on active duty who have served a minimum period
- certain Reservists and National Guard members
- surviving spouses of certain deceased veterans
Note: There are certain other groups of individuals who may be eligible. For information about these groups, contact VA at the toll-free number below.
What Documents Do I Need to Provide the Lender To Receive a VA-Guaranteed Loan?
The lender will need a Certificate of Eligibility to prove that you are eligible for a VA-guaranteed loan. Certificates are issued by VA’s Loan Eligibility Center in Winston-Salem, North Carolina to eligible persons who apply for the certificate. The Eligibility Center can be reached by calling toll-free below. Often times, your lender may be able to access VA’s secure web site and obtain a certificate for you.
How Can You Apply?
You can apply by requesting your lender to obtain a certificate for you through VA’s secure web site OR by completing one of the following forms and submitting it to the Loan Eligibility Center in Winston-Salem, North Carolina.
- Veteran/Servicemember: VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan Benefits
- Surviving Spouse: VA Form 26-1817, Request for Determination of Loan Guaranty Eligibility – Unmarried Surviving Spouse
Related Benefits
Restoration of Entitlement Release of Liability/Substitution of Entitlement
Purchase of Repossessed Homes Veterans Mortgage Life InsuranceDirect Loans to Native American Veterans Specially Adapted Housing
For More Information, Call Toll-Free 1-888-244-6711
or Visit Our Web Site at http://www.homeloans.va.gov/eligibility.htm.
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