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30 day loans online – 30 day loans for people with bad credit #rv #loan #calculator


#30 day loans
#

30 Day Loans Online

30 Payday Loans is a veteran online loan arranging firm in the US financial market. We specialize in arranging payday loans for borrowers who need cash support in between two consecutive months. With us you can avail 30 day loans online for meeting up your expenses raising its head before the payday. These loans are given for a short span of time and need to be repaid within 30 days from the time of application. Your unexpected bills, car repairs, grocery bills etc. can be paid off now without pending for the next payday.

30 day loans online are the perfect answer for your all-purpose requirements. These loans are easy to qualify for and are available for a comparatively shorter term. If you borrow these loans, you have to repay within a month. We have customized the loan plan and its repayment structure taking your payday date into consideration.

We carry on online application process for your loan transaction. Our fastest mechanism will furnish you with 30 day loans online overnight and help you getting the money transferred in your bank checking account. The process is really that simple and uncomplicated. We do not include lot of peperworks and documentation in the lending process. But, being short-term loans, the interest rate will be slightly higher. But make sure you can get the lowest possible interest rate with us. So, go ahead and get fast cash now!

For availing loans, you will have to fill out the online application form through our network and send it to us. We will give you fast response. It will take few minutes to apply for 30 day pay day loan with us. We are working with various lenders of the US who are issuing the 30 days payday loans to you at easy terms and conditions. After taking the loan, you must repay back these loans within 30 days.  The whole process is quite simple and easy for you. The main thing of this loan is that you must pay back the whole loan amount within a month only. So, look no further and apply with us right now!



Whitney Bank: Personal Loans #personal #loan #lenders


#bank loan rates
#

Auto, Boat and RV Loans

Residential Construction Loans

Our residential construction loans can put you one step closer toward making your dream home a reality (available for owner-occupied residences only). Similar to a line of credit, a Residential Construction loan is used to finance residential construction projects. You can draw funds as needed to pay contractors and suppliers. When the building is completed, the loan is paid off with proceeds from permanent financing. Most construction loans are granted after permanent financing has been arranged.

We’ve helped our neighbors across the Gulf South realize their dreams of owning a home. We’re eager to help you, too.

Whitney Bank also offers mortgage options to meet your needs. We make it simple to understand and choose a mortgage you’ll like as much as your new home. For information about Residential Construction Loans or any of our mortgage options, contact Mortgage Services at 1-800-813-7346.

Our bankers are registered Mortgage Loan Originators and ready to assist you with all your borrowing needs. To acquire your Banker’s unique identifier (MLO ID), please call 1-800-844-4450 or view Safe Act Registry .

* Not available on all loans. (See a Whitney Banker for details).



Why FHA Loans Are Cheap Home Loans – FHA Mortgage Center Blog #simple #loan #agreement


#cheapest home loans
#

Why FHA Loans Are Cheap Home Loans

FHA loans are loan insured through the Federal Housing Administration.  These loans are not held by or funded by the FHA, but rather funded by commercial lenders (they must be approved prior to providing these loans.) What makes them different is that the lender is able to take an insurance policy out on the loan. If the borrower of the loan defaults, the lender is able to recoup some of their invested money by selling the property and by collecting an FHA insurance payment.

What Does This Mean To You?

As you take into consideration how the FHA works, consider how it affects you, the individual hoping to purchase a home in a troubled economy. There is no doubt: now is the time to buy especially if you have a good credit score, a down payment and want a good deal. Home prices are at much lower prices than they were just a few years ago. But, what if you want to save even more money on your home loan purchase ?

To get cheap home loans, consider FHA loans. Because these loans have an insurance policy on them, of sorts, the lender is less at risk of losing their investment in the loan. With the opposite type of loan, a conventional loan, there is no guarantee that they will be able to make up this cost. Even if they foreclose on the property of a default borrower, they still take thousands in losses.  To the lender, the risk of an FHA loan is lower and therefore they are not as worried about the loan. In return, interest rates are lower.

Lower Risk = Lower Interest Rate

There is no way to know what your interest rate will be until you apply for or at least talk to an FHA loan specialist. You are likely to get a far lower interest rate with an FHA loan than you would if you obtained a conventional loan.

Where s The Catch?

Many people fear a catch. What is behind this type of loan? You still have to qualify for the home loan. You still have to have a down payment for the home loan, but it is far lower than those f conventional loans. You do have to have a decent credit score. The days of having a very low credit score and no down payment and still getting a home loan are gone.

Nevertheless, FHA loans are solid investments. They can help more people to qualify and they are, by all accounts, the cheap home loans you are looking for.

This entry was posted on Saturday, December 6th, 2008 at 11:22 pm and is filed under FHA Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response. or trackback from your own site.

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Where to Get a Small-Business Loan – Getting a Small Business Loan. #easy #student #loans


#small business loan
#

How to Survive a Worker’s Comp Claim

March 19, 2010

If you want to expand your business, you re going to need some cash.

Money still isn t falling off trees for small businesses, and the lending seas can be a challenge to navigate. Although you need funding, you want to make sure your deal is better than the one offered by the neighborhood loan shark.

Money might be available thanks to stimulus spending, but that doesn t mean it s easy to get.

The [banks] have tightened their lending policies, and it is more difficult for an entrepreneur to get financing, says Velda Eugenias, a certified financial planner with Eugenias Advisory Group in Gadsden, Ala. It is causing the small-business owner to have to get creative with finding sources of capital.

Here are a few options:

  • Traditional bank loans

Your local bank can offer low interest rates and long repayment plans. Sounds good, but some entrepreneurs have found that stricter underwriting guidelines make it nearly impossible for these small business loans to be approved.

The negative to a bank is that the loan can often be very hard or next to impossible to obtain, says Rick Kahler, a certified financial planner with Kahler Financial Group in Rapid City, S.D. Also, most bank loans are recourse, meaning if there is a default, the bank can go after your personal assets as well as any collateral secured by the loan.

Every bank s lending requirements are different, so shop around. Start with your personal bank. If a banker knows you, he or she may offer additional help when you apply.

Like traditional bank loans, loans with a government guarantee can be tough to get, and the process can be painstakingly long. It s not uncommon for potential borrowers to bail before the loan is approved.

If you can get a government loan, you ll find low interest rates and long repayment terms. Check the Small Business Administration website for more information.

  • Loans from family and friends

    No one wants your business to succeed more than your loved ones or good friends, so your nearest and dearest may be a good funding source. In return for the loan and your gratitude, your new lender could receive a decent interest rate on the loan–better than a bank CD or money market fund.

    Make sure you do it right. Draw up a contract or promissory note for the loan with specific repayment terms so that you don t run afoul of the IRS. (If you re offered an interest-free loan, the IRS can actually attach a rate to it for you–or even decide that the loan was a gift, which will have tax consequences.)

    Anytime you mix business and personal, though, you risk hurting your relationship.

    Home equity is one of the quickest and easiest ways to obtain cash, but that s what got so many homeowners in trouble during the past few years. Since then, banks have cut home equity lines of credit and have imposed stricter loan-to-value ratios.

    If you have home equity available, use caution before putting your home on the line.

    If things go wrong with the business, you could end up losing your home, as well as being held personally responsible for the repayment of any shortfall, Kahler says.

    Personal and business credit cards can seem to be an easy solution to your borrowing needs, but they can be costly, with interest rates exceeding 20 percent–a huge spread over a bank loan. Also, business credit cards are not subject to the new CARD Act rules that apply to personal credit cards.

    Use credit cards sparingly and not for long-term financing.

    If you have a short-term need for a purchase that you are 99.9 percent sure you will have the money to pay off the credit card when it comes in, then it is a good use of your resources, Eugenias says.

  • A partner

    If you re willing to share your future successes, consider a partner who can pour some money into your business.

    Select a partner as you would a spouse, only more carefully, says Kahler.

    While a partner could bring cash, she could also bring her own ideas about how to run your business. You ll have to be willing to share, and you ll need to draw up some specific legal agreements outlining the partner s role in the company.

  • Less-traditional funding

    Websites are popping up that allow consumers to offer loans. For example, Prosper.com sets up potential borrowers and lenders who agree to three-year unsecured loans with fixed interest rates. Borrowers post how much they d like to borrow and the maximum interest rate they d pay, and potential lenders bid on loans.

  • Your retirement accounts

    This should be the funding source of last resort. You ve set money aside for your future and although you hope your business venture will add to your future, it s an enormous risk. If the business goes under, you can kiss your nest egg goodbye.

    Some 401(k) plans offer loans against your plan s value, and through payroll decusions you make payments on the principal and interest. But if you lose or leave your job, most plans require that the entire loan be repaid immediately.

    If you choose to withdraw funds from an IRA or 401(k) before age 59 1/2, you ll be subject to taxes and penalties, making this source of cash very expensive indeed.



  • Where To Find The Best Motorcycle Loan Rates #90 #day #loans


    #motorcycle loan rates
    #

    Motorcycle ownership seems to be at it’s height of popularity with there being a variety of people riding, from college students to bank presidents. No matter what financial situation you’re in, you’ll find that motorcycle loan rates do tend to be higher than traditional loan rates because lenders view motorcycles as a luxury item. But it is still possible to get a low rate on a motorcycle loan. If you have a good credit history, meet income requirements and have a down payment, you could qualify for the best in motorcycle loan rates. Whether you are a low risk to a lender or have a history of bad credit, there are a variety of options available to you when you are seeking a motorcycle loan.

    Manufacturer financing

    Many times, this line is offered at an attractive introductory rate with little or no payments for a pre-set time period. After the introductory period, however, you can expect to see a sharp increase in interest rates. It is important if you choose this route to set yourself up on a payment plan so you can get the motorcycle paid off in a certain amount of time. You will only be required to pay the minimum payment but it is smart to pay more to avoid excessive interest charges.

    Traditional loan

    Many banks, credit unions and online lenders also offer motorcycle loans. You can expect to pay from one to three points more than you would for a vehicle loan. This will be true no matter where you get your loan. Online can be a great place to search for motorcycle loan rates as you will have a wide array of options available to you at the click of your mouse. It also helps to have an idea of rates and terms when you enter the dealership so you can decide on the best option for your situation.

    Personal credit card



    Which Way To Pay – Error 404: File Not Found #used #boat #loans


    #car loans 4 u
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  • Ripoff Report #student #loans #without #a #cosigner


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    Reputation Management

    Corporate Advocacy Program

    This is the best way to manage and repair your business reputation. Hiding negative complaints is only a Band-Aid. Consumers want to see how a business took care of business.

    All business will get complaints. How those businesses take care of those complaints is what separates good businesses from bad businesses.

    Consumers love to do business with someone that can admit mistakes and state how they made improvements.



    Where to get the Cheapest Personal Loans #instant #approval #loans


    #cheapest loan rates
    #

    FinanceComparison.com.au

    Shopping Around for the Cheapest Personal Loans

    Be a Smart Borrower

    It stands to reason then that we’re going to shop around for the cheapest personal loans the same way we’d shop around if we were making the purchases directly from our wallets. This makes sense, right? Unfortunately, many people don’t shop around for the cheapest personal loan. They don’t have the funds they need to make a purchase so they go to the first lender they see, apply for a loan and take the money and run, without even so much as considering that the lender across the proverbial street may have given them a cheaper personal loan.

    What Makes One Loan Cheaper than Another?

    It’s important to know what makes for a cheaper loan . When lenders charge you a certain interest rate on your personal loan, it must also be presented as a comparison rate stated in terms of APR or annual percentage rate. The comparison rate is the cost of your loan in terms of a percentage inclusive of all fees and charges with the exception of government and statutory charges, insurance and event based fees (like late fees). For instance there may be other factors to consider besides the actual percentage rate the lender charges you. When you apply for a loan of $50,000, for example, the lender may give you a quote of 12% interest on the loan. Any loan fees the lender may charge you such as a $100 loan origination fee, $20 credit report fee, $30 wire transfer fee, etc. is going to be added to the $50,000, which will increase your APR. So, to make life simple for you, simply look at the comparison rate. This rate represents the true cost of the loan.

    Another example of how to make a loan cheaper is with the term. Two customers come to a lender and get a $50,000 loan with an APR of 12%. The first customer agrees to pay his loan off in one year with 12 monthly payments, while the other customer agrees to pay it off in 2.5 years with 30 monthly payments. They’ve both borrowed the same principal amount at the same interest rate. Yet, the first customer got a much cheaper loan than the second because he’ll pay a lot less interest over the term (12 months) of the loan.

    Always check the terms of the loan and how the fees are calculated such as; account-keeping fees, annual service fees and late charges. Although you may not ever be late on your payments, find out how much they charge you on late fees and when the fees are assessed.

    Shop Around for the Cheapest Personal Loans

    Now that you know what makes the cheapest loan, you can begin shopping around. Check the many online lending companies that are willing to give you personal loans. Many of these are from major lenders and can offer you fast and efficient service with excellent rates. If you’re doing your business online, read all the fine print you can on their lending policies. If you still have questions, send them an email or call them on the telephone. If they don’t have a contact number, don’t do business with them. Many customers find they can get their personal loans faster online than if they went to a lenders in their own town.

    Check with the many lenders in your area. Generally, credit unions will give you a much better deal on your personal loan in terms of interest rate and additional fees and charges. If you’re a member of your credit union, check into their policies regarding personal loans. If you’re not a member, you may wish to consider joining for any future financial dealings you may have.

    Compare all the costs you’ll be charged for doing business with a particular lender in terms of interest, fees and loan terms. If, after shopping around, you’ve finally found a lender that appears to be the cheapest, make sure it’s a reputable lender that you can rely and trust.

    I worked in a lender as a loan secretary for many years and handled many loan signings for the lenders. You would be surprised how many of the customers would come in to sign their loan documents and show little interest when I was going over their documents with them before they signed for the loan. Many of them looked bored and totally disinterested in the figures on the paper showing what their final APR was and how we came to that figure. All they seemed to care about was signing the documents, getting the check and leaving.

    Don’t let yourself fall into the category of being one of these people that are only interested in getting the personal loan. Make the lenders give you the best and cheapest personal loans they possibly can. After all, it’s your money and it can be spent on a lot of other things other than interest and fees. So, shop around first!

    What to do next

    Finance Comparison lists a number of highly competitive personal loans that you can apply for online. Simply compare rates, terms and apply online.



    60 Day Loans- 2 Month Loans- Payday Cash Loans #student #loans #rates


    #payday loans lenders
    #

    Welcome To 60 Day Loans

    Are you in need of monetary assistance immediately? No matter in what financial trouble you are trapped in, at 60 Day Loans we will help you to get rid of it as soon as possible. We can arrange the best loan deal by reputed lenders in an easy way!

    At 60 Day Loans we can arrange loan deals without any lengthy faxing of documents, credit checking or pledging of colletral. There is no need to bother about your past credit rating as well. Bad credit rating such as default, arrear and insolvency will never debar you from getting an approval through us.

    For any cash shortfall, apply for 60 day payday loans. Any short term cash need before payday can be easily dealt with the help of these loans. Besides, these loans come with extended repayment tenure of 60 days. This will help you pay back the borrowed money conveniently. Apply with us at 60 Day Loans today!

    60 day cash loans are perfect for those who are looking for cash help to meet urgent expenditures. These are short term collateral free cash help that comes with extended repayment tenure of 60 months. At 60 Day Loans we put no restriction on how you make use of the approved cash.

    2 month loans arranged at 60 Day Loans are colletral free cash help that you can apply to deal with any urgent expenditure that needs to be fixed immediately. No faxing, no pledging of colletral and no credit checks are few benefits that you can enjoy applying for these loans through us.

    There is no need of wasting your valuable time at 60 Day Loans. Just fill in the simple online application form and we will get back to you with the right loan deal in no time.

    The operator of this website is not a lender and does not make credit decisions. The information you provide will be used in securing you a short term loan with one of our carefully selected panel of leading Short Term Loan Lenders in USA. The personal, financial and employment information that we collect is stored electronically during the duration of the application and is removed from our system upon acceptance from the lender.

    Please note that payday loans are meant to be used for short term financial emergencies and are not designed to provide long term solutions

    We expect you to repay your loan on the date agreed, so if you do not think you are in a position to make your repayment, please do not apply with us in the first place. It is not worth risking your credit rating for such a small amount.



    What is the difference between an interest rate and an annual percentage rate (APR)? #student #loans #federal


    #interest rate on car loan
    #

    What is the difference between an interest rate and an annual percentage rate (APR)?

    When evaluating the cost of a loan or line of credit, it’s important to understand the difference between the advertised interest rate and the annual percentage rate. or APR. The advertised rate, or nominal interest rate, is used when calculating the interest expense on your loan. For example, if you were considering a mortgage loan for $200,000 with a 6% interest rate, your annual interest expense would amount to $12,000, or a monthly payment of $1,000. The APR, however, is the more effective rate to consider when comparing loans. Expressed as a percentage, the APR includes not only the interest expense on the loan but also all fees and other costs involved in procuring the loan.

    The APR should always be greater than or equal to the nominal interest rate. except in the case of a specialized deal where a lender is offering a rebate on a portion of your interest expense. Returning to the example above, consider the fact that your home purchase also requires closing costs, mortgage insurance and loan origination fees in the amount of $5,000. In order to determine your mortgage loan’s APR, these fees are added to the original loan amount to create a new loan amount of $205,000. The 6% interest rate is then used to calculate a new annual payment of $12,300. To calculate the APR, simply divide the annual payment of $12,300 by the original loan amount of $200,000 to get 6.15%.

    When comparing two loans, the lender offering the lowest nominal rate is likely to offer the best value, since the bulk of the loan amount is financed at a lower rate. The scenario most confusing to borrowers is when two lenders are offering the same nominal rate and monthly payments but different APRs. In a case like this, the lender with the lower APR is requiring fewer upfront fees and offering the better deal.

    The use of the APR comes with a few caveats. Since the lender servicing costs included in the APR are spread out across the entire life of the loan, sometimes as long as 30 years, refinancing or selling your home may make your mortgage more expensive than originally suggested by the APR. Another limitation is the APR’s lack of effectiveness in capturing the true costs of an adjustable rate mortgage, since it’s impossible to predict the future direction of interest rates.

    The Federal Truth in Lending Act requires that every consumer loan agreement list the APR along with the nominal interest rate. The fact that all lenders must follow the same rules to ensure the accuracy of the APR creates a more level playing field for borrowers and a much more effective means of determining the true cost of a loan.



    Where Can I Apply for Free Money to Pay Off My Student Loans? #student #loan #application


    #money to loan
    #

    Where Can I Apply for Free Money to Pay Off My Student Loans? Michelle

    Michelle

    Dear Steve,

    I m trying to figure out where I can apply for free money to pay off my student loans. I know this is a question that has been asked of you before. I m just tired of thinking I ve found ther right site, and it ends up that I have to pay for the information. You re right, It s definitely a scam. I just want to pay back the money that I owe to schools. My husband and I just had our first baby almost two months ago. I don t want to still be paying back student loans when it s time for her to start school; I sure also don t want to be in complete debt when that times comes as well. Also, I am not working right now, and my husband works, but he does not make a lot of money. Please steer me in the right direction.

    Where can I go or who can I go to in order to receive help in paying back my student loans? I have no job right now, and I don t want to still be paying back money when myt 2 month old starts school!

    There is no free money to pay off student loans. There are some student loan forgiveness programs for teachers and doctors in disadvantaged areas but no money available for people not working in a specific field or area. Even then the requirements are onerous before some federal student loans will be forgiven .



    What’s the best way to finance buying a car? Money Advice Service #loans #bad #credit


    #cheapest car loan
    #

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    Buying a car is no simple decision. From buying outright, to buying a car on finance, there are many options. You also have to consider running costs. In fact, it’s probably the second most expensive thing you’ll buy after a home. So it’s important to make sure you get the best deal on financing.

    Cash or savings?

    When interest rates are so low, it’s likely that your savings will not be earning much in a bank or building society account. So rather than keeping your savings and borrowing at a higher rate of interest, you could use them to fund all or some of the cost of the car.

    • You should make sure you have enough savings left over for an emergency after you have paid for your car.
    • If you don’t have enough savings to buy the car outright, you could use them to give you the biggest deposit possible.
    • Even if you use money from your savings you may be better off buying the car on your credit card so you benefit from credit card purchase protection. You should pay the bill off in full the next month.

    Use our Car costs calculator to work out the total cost of motoring.

    Personal loan

    Did you know?

    Personal loans are usually the cheapest way to finance a car deal, but only if you have a good credit rating.

    You can get a personal loan from a bank, building society or finance provider so long as your credit rating is good.

    Make sure the loan is not secured against your home. Otherwise you will be putting your home at risk if you failed to keep up with repayments.

    Shop around for the best interest rate by comparing the APR (or annual percentage rate, which includes charges you have to pay as well as the interest).

    Pros

      It can be arranged over the phone, internet or face-to-face Covers the whole cost of the car but it doesn’t have to Can charge a competitive fixed interest rate if you shop around

    Cons

      There may be a wait for the funds to appear, although some lenders make funds available almost immediately Other borrowing may be affected

    Hire purchase (HP)

    Hire purchase is a form of buying a car on finance and is paid in instalments where payments are spread over 12-60 months and you usually (but not always) have to put down a 10% deposit. They are arranged by the car dealer and are often very competitive for new cars (less so for used cars). The loan is secured against the car, so you don’t own it until the last payment is made.

    Pros

      Quick and easy to arrange Low deposit (usually 10%) Flexible repayment terms (from 12 to 60 months) Competitive fixed interest rates

    Cons

      You don’t own the car until the final payment Tends to be more expensive for short-term agreements

    Personal contract plan

    This type of car finance deal is a variation on hire purchase and tends to result in lower monthly payments. Instead of paying for the car outright, you agree to pay the difference between its sale price and its price for resale back to the dealer. This is based on a forecast of annual mileage over the term of the agreement. Payments are spread over a shorter term of 12 to 36 months.

    At the end of the term you can:

    Personal leasing

    You can pay the dealer a fixed monthly amount for the use of a car, with servicing and maintenance included, as long as the mileage doesn’t exceed a specified limit. At the end of the agreement, you hand the car back. It never belongs to you.

    Pros

      Motoring at a fixed monthly cost No worries about the car depreciating in value Flexible payment terms (from 12 to 36 months)

    Cons

      Monthly costs are higher because servicing and maintenance are included Need to find a deposit (usually 3 months rental) Possible extra costs if you exceed the mileage limit The car is never yours

    Car finance options – Things to look out for

    As you compare car financing, there are a few key things to do before making a final choice.

    • Make sure you can afford the monthly payment.
    • Make sure you compare interest rates by looking at the APR (annual percentage rate), which includes all the charges you have to pay. Remember that a higher deposit will normally mean a lower interest rate.
    • Compare the total cost of borrowing, including all charges over the loan.
    • Think carefully before buying payment protection insurance (PPI) or other insurance, such as GAP cover, which can be expensive and may give limited cover. GAP cover is designed to pay out if your car is a total write-off and the outstanding finance is more than the value of your car.
    • Beware of early repayment or other charges, which kick in if you exceed the forecast mileage in personal contract plans (and also personal leasing).

    Shop around

    The best way to shop around for a good deal is to use an online comparison site. Here are some of the sites you might want to consider.



    When is a Personal Loan Better than a Credit Card? Credit Sesame #citi #student #loans


    #credit card loan
    #

    When is a Personal Loan Better than a Credit Card?

    We’ve all been there. We need to buy something but we don’t have the cash. And while your immediate reaction may be to charge it on your credit card, another option to consider is the more traditional, but often overlooked, personal loan.

    As a financial planner, I often have clients come into the bank to apply for a credit card for the reward benefits, or a line of credit for the low interest rate. More often than not, however, people forget about the third financing option – the personal loan. Let s take a look at three reasons why a personal loan may be a better option over a credit card, and two examples of when a personal loan just won t do.

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    Advantages of a personal loan

    1. Fixed interest rates create stability.   A personal loan gives you a lump sum of money up front, allowing you to pay it back over a fixed term – typically a period of one to five years. Loan rates are negotiable, which is a major advantage of choosing a personal loan over a credit card. Another advantage of a personal loan is that when the loan agreement is signed, the interest rate is fixed for the entire repayment period. This means that your interest rate cannot fluctuate and your payments will always remain fixed.

    2. Fixed payments are easy to budget. Having fixed payments on your personal loan make sticking to a monthly budget a breeze. If you live on a fixed income, a personal loan may be a better option for you because the payments remain the same each and every month. With a personal loan, you don’t have to worry whether or not you’ll have enough money to make the minimum monthly payment like you would with a credit card, for example. Unlike credit cards,  monthly payments on a personal loan don’t change.

    3. The interest rate is lower than a credit card. Who wants to pay 19% on a credit card? Not me. A personal loan is a great financing option if you need a lump sum of money right away and you can afford to make payments to repay the loan over time. The interest rates on personal loans are substantially lower than the interest rates on credit cards. Interest rates on personal loans are also negotiable with your bank, whereas interest rates on credit cards are not. Bottom line? If it’s going to take you a few years to pay off the debt, go with a personal loan and you’ll save in interest .

    When a personal loan just won’t do

    If you want to enjoy travel benefits and earn rewards. Although personal loans are usually a cost efficient solution to your financial needs, they are not always the best option. If you are taking a vacation then using your credit card may be a better than applying for a personal loan because you can take advantage of the travel benefits. Upgrades, discounts and insurance coverage are all advantages that credit cards offer and personal loans do not.

    Having said this, it’s important that you pay the balance – or as much of the balance as possible – when the bill comes due. Falling into credit card debt solely to pay for a vacation isn’t a good idea. However, if you spend what you can comfortably afford to pay off at the end of the month – credit cards are an excellent tool for earning extra rewards and travel perks on day to day purchases you’d typically make with cash. The key here is paying off the balance in full at the end of the month – you’ll avoid paying interest and earn rewards for purchases you would have made anyway.

    When you need additional warranties and protection. If you are purchasing big ticket items such as appliances, furniture or electronics, then using your credit card may be a better option.  Many credit cards offer an extended warranty in addition to the coverage that already comes with the product from the manufacturer. Very often department stores offer clients the option to purchase an additional warranty but it may not be necessary if you use your credit card to make the purchase.



    What you need to know before you even think about taking a payday loan #quick #cash #loans


    #payday loan lenders only
    #

    What you need to know before you even think about taking a payday loan

    Please enable Javascript to watch this video

    Nothing is more valuable than cash in hand.

    But many families are living paycheck to paycheck and, sometimes, that next paycheck is not coming soon enough.

    News 8 has found that thousands of people turn to high interest rate payday loans, even though there may be cheaper alternatives they could use.  It’s easy to see why.

    The offer is enticing: Cash in minutes!   No credit check!   Fast cash!

    So, you need money now.   What could be easier than a payday loan?

    “You get your loan, you pay it back.  Yeah, it’s sort of expensive, but it’s not the end of the world,” says Brian Delaney, Chief Executive Officer of Consumer Credit of the Quad Cities. a credit counseling service with offices in Davenport.

    Payday loans are also very popular.  Ten years ago there were only eight cash advance stores in all of Iowa.   Now there are eight in Davenport alone.

    So, business is good – for the lenders.

    Just how expensive are payday loans?

    Advance America says a $100, 14-day loan will cost you and added $16 in interest.   That’s a 430% annual percentage rate .  At Check ‘N Go, interest on a $100 two week loan has a 404% APR.   At Check Into Cash, it’s 407%.   That s higher than a percentage rate you re going to get on a credit card, that s higher than a percentage you re going to pay at a pawn shop, that s higher than the percentage rate you re going to pay – quite literally – anywhere else. Christopher Shumaker

    “I can’t see a situation where it ever pays off, quite frankly,” says Ascentra Credit Union president Dale Owen.

    Owen says payday loan companies are seen as lenders of last resort, but credit unions can be the alternative for those who have what he calls “colorful credit” histories.

    “Being a realist, I know there’s a lot of great people in tough times, tough situations, and they’re working their way out of it,” Owen said.

    Opening an account can help build credit, but that takes time.

    Some turn to the second-oldest business in the world.

    Christopher Shumaker has been in the pawn shop business since he was 14.

    Though pawn shop collateral loans aren’t regulated, he says they still come nowhere close to the 300% to 400% APR charged by payday lenders.

    “That’s higher than a percentage rate you’re going to get on a credit card, that’s higher than a percentage you’re going to pay at a pawn shop, that’s higher than the percentage rate you’re going to pay – quite literally – anywhere else,” says Christopher Shumaker, owner of Quick Cash Pawnbrokers in Davenport.

    Surveys have found a quarter of all Americans have no savings account.   So when the unexpected happens, they’re stuck between a rock and a hard place.

    “There’s single mothers coming in that just need money to get to their check on Friday, there’s people strapped for their unforeseen bill that popped up,” says Shumaker.

    The other problem with payday loans is the cycle they may create.  The worst thing you can do is get another loan to pay off a loan. -Brian Delaney, Consumer Credit of the Quad Cities

    A list of 24 Consumer Credit customers, who are trying to get their debt under control, shows one person with 15 payday loans.  That person owes more than $10,000.

    “The worst thing you can do is get another loan to pay off a loan,” says Delaney.

    Delaney says you need to get help before you take that step.   And the sooner the better.

    “I’m willing to bet that there are a number of people who get payday loans that really could get other credit if they tried,” he says.

    Both Illinois and Iowa have warnings for you to consider if you are thinking of taking out a payday loan.

    1. PAY BACK YOUR LOAN.   Pay it back in full before the deadline.  And make sure you paid it in full, that there aren’t fees and expenses associated wit the loan that could still haunt you.
    2. BORROW ONLY AS MUCH AS YOU CAN.   Don’t over-borrow, taking out a loan for more money than you’ll be able to pay back on the due date.  That’s where you lose your money quickly as the interest rate starts making the loan even more costly to you.
    3. BEWARE OF OTHER OFFERS.   Loan companies may steer you away from payday loans toward title loan or specialized installment loans.  These are not regulated in the same way as payday loans and they could end up taking even more away from you.
    4. READ THE CONTRACT THOROUGHLY.  Understand all the terms.  Once you’ve signed for a loan, it’s difficult to argue you didn’t know what you were doing.  Make sure you know the fine print.
    5. DON’T BURY YOUR HEAD IN THE SAND.   The worst thing you can do is ignore a late payday loan.  There are agencies that can help you dig yourself out of debt and still find a way to settle with your creditors.  Time IS money.  Don’t waste either.


    What you should know about auto refinancing #long #term #loans #no #credit #check


    #refinancing car loan
    #

    Why refinance your car loan?

    The most common reason to refinance your car loan is to lower your monthly payment. You may love your car, but feel a little less affection for the terms of your car loan. Instead of settling for a lousy loan, consider restructuring your current loan and reducing your monthly car payment.

    Auto refinancing may make sense if interest rates have dropped since you originally financed your vehicle. Alternately, your credit score may have improved since you bought your car, so you may qualify for a lower interest rate.

    It may be that your original loan had a lengthy term (five to eight years) and you’d prefer to pay off your loan in a shorter time frame, thus lowering the amount of interest you must pay over time.

    Any one of these reasons is a good incentive to look into auto refinancing.

    Auto refinancing options

    You have two ways to reduce your monthly payment by refinancing your car. The first is to maintain the length of the loan, but reduce the interest rate. With this scenario, you’ll enjoy a lower monthly payment, and still pay off your loan by the original loan termination date.

    Another way to refinance your vehicle is to extend the length of your loan. This allows you to reduce your payments by taking a longer period of time to pay off the loan. Common auto refinancing loan terms are 36, 48, 60 or 72 months. The longer the term, the lower your monthly payment should be.

    What type of car fits your lifestyle? >>

    How long does it take?

    Unlike refinancing your home, auto refinancing is a fairly quick process. A typical auto refinance takes less than one day to complete. Online banking can make auto refinancing an even more streamlined and simplified experience.

    Sources of auto refinancing



    What to do When You Need a Long-term Lending Solution #medical #school #loans


    #long term payday loans
    #

    Long-term Lending Services Offer Extra Benefits

    Payday loans are designed for those unexpected surprises in life, from car trouble to healthcare bills or last-minute travel expenses. But not all consumers can comply with a standard cash advances short payoff schedule. If you think you need more than two weeks to a month to pay off your balance, consider taking out cash advance.

    Understanding the Different Options:

    Long-term payday loans:

    • Apply for services with payoff times longer than two weeks
    • Come with additional, more costly fees
    • Are generally offered to people who need larger amounts of money

    Short-term advances:

    • Are paid in full within two weeks
    • Have different fees than the longer alternative
    • Are usually for small amounts of money

    How to Use These Services Responsibly

    Read the paperwork: be sure you understand the rules and conditions of your financing as they could be quite different from a short-term lending service. Review the product’s fees and the repayment schedule. Your payments could be due weekly, bi-weekly or monthly.

    Compare lenders: Not all lenders offer the same programs. Investigate the programs offered by different lenders and weigh the benefits of each.

    Stick to your repayment schedule: The fees and penalties on can be high, so make sure you are prepared to pay off the balance on time. If you are late on a payment, your lender could assess fees daily or weekly, each of which will add to your balance and accumulate extra interest. If you foresee a problem, speak with your lender immediately to determine whether other repayment options exist.

    Only borrow as much as you need: The services our partners offer can be extremely useful financial tools, but responsible consumers should only borrow the exact amount they need. Calculate the costs and decide the best solution that fits your budget.



    What Loan Compare #college #loans #for #students


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    Cash advance loans cater to your less-than-perfect credit reputation late expenses, repayment fails and CCJs What loan compare together with reduced credit standing. If you d like, in this credit you may increase your indicate by fully repaying bank loan What loan compare punctually. It also protects you variety of eliminations like harassment phone calls because of your collectors, decrease monthly bills, lessened fiscal charges etcetera.

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    Getting without a job actuel loansThey can be readily available, each by actual creditors and thru online procedure.



    What We All Can Learn from the Military s Payday Loan Problem #how #to #get #a #car #loan


    #military payday loans
    #

    About

    Getty Images As a 19-year-old, Robert Knoll made a mistake that many young people do — he got into debt. Knoll did it by living beyond his meager salary as a U.S. Marine, and using small payday loans to help him get by between paychecks. “The problem, though, is it puts you behind the next payday,” Knoll says.

    Those $80 to $200 payday loans added up, along with the $50 in interest he’d pay to borrow $200 for five days. With an annual percentage rate on the loan of more than 200 percent, Knoll would post-date a check for $250 for a $200 loan that would be paid off five days later when his paycheck was deposited into his checking account.

    “You can spend your entire paycheck before you get it,” says Knoll, now an account executive at DRIVEN Public Relations in Temecula, California. He retired as a Marine master sergeant in 2013.

    Help From the ARK

    Unlike servicemembers today, Knoll didn’t have help from the military on payday loans back then. One program that officials are trying to remind military members and their families about is the Asset Recovery Kit .

    For a $5 fee, members of 17 credit unions supported by the Pentagon Federal Credit Union Foundation can borrow up to $500 interest-free for 30 days. The program has loaned more than $3.8 million in 8,724 loans since it started in 2004, says Jane Whitfield, president and CEO of the PenFed Foundation. “We want to help in preventing short-term emergencies becoming long-term problems,” she says.

    Another program meant to help military members avoid getting stung by payday loans is the 2006 Military Lending Act. The law forbids payday lenders from charging more than 36 percent annual interest rates on loans to servicemen, and loans can’t be for more than $2,000 or for more than 91 days. Unfortunately for the fiscal health of our servicepeople, those lenders are making good use of loopholes in that law: loopholes that some in Congress are trying to close. In a 2013 study of payday lenders. the Consumer Financial Protection Bureau found that loans cost $10 to $20 per $100 borrowed. A $15 fee on a $100 loan equates to an APR of 391 percent on a 14-day loan.

    n a study of payday lenders, the CFPB found that the loans cost $10 to $20 per $100 borrowed. For example, a $15 fee on a $100 loan equates to an APR of 391% on a 14-day loan. – See more at: http://www.thecreditsolutionprogram.com/military-families-get-protection-from-payday-lenders/#sthash.6PGNU2xA.dpuf

    Under the ARK program, borrowers must talk to a credit counselor if they return for a loan within two weeks. The counseling lasts 30 minutes to an hour, and covers topics such as how to create a budget, Whitfield says. For many young servicepeople (and civilians), good money management is, unfortunately, a something they were never taught.

    Pawn Shops and Credit Cards

    Knoll says budgeting was part of his plan when he was young, but it was difficult to do with his low salary and spending choices. After paying $1,000 or so in payday loan interest over a period of two years, he cut his spending and got out of debt. It was as simple as not going anywhere — even to a bar or restaurant — when he didn’t have any more money until the next payday.

    Payday loans aren’t the only alternative method military members use to get by between paychecks, though 18 percent of them do. Whitfield says 35 percent of military members use pawn shops, auto title loans and other ways (including payday loans) to get short-term cash.

    Credit cards are another way to get into debt trouble. About one in three members of the general population carry some credit card debt from month to month, compared to 58 percent of servicemembers, according to an April 2014 survey by the National Foundation for Credit Counseling. They’re also twice as likely as the general population to use cash advances from credit cards, the foundation found.

    They use such alternative, non-traditional loans because they think they lack other options, according to 60 percent of servicemembers in the survey who took a loan in the last year. And as anyone who has ever had a low income knows, when the landlord is knocking on your door asking for the rent check, you use the options you have.

    That’s why the military is now making a more intensive effort to remind servicepeople about options like the Asset Recovery Kit and the PenFed Foundation. No matter who you work for, the easiest way out of high-interest debt troubles is to avoid falling into them in the first place.

    A former newspaper journalist, Aaron Crowe is a freelance writer who specializes in personal finance, real estate and insurance for various websites, including Wisebread, insurance websites, MortgageLoan.com and AOL.



    What Is the Best Way to Consolidate Credit Cards? #bad #credit #auto #loans


    #credit card consolidation
    #

    What Is the Best Way to Consolidate Credit Cards?

    Written By Natalie Rutledge

    If you are tired of paying on multiple credit card balances, it may be time for you to consider consolidation of your various debt. With credit card consolidation, you put all of your balances onto one card and then make the payments on that card until you have paid off all of your debt. This is easy to do in theory, but it can be costly if you don’t approach it in the right way. Before you take on any more debt, you need to ask yourself “What is the best way to consolidate credit cards?”

    Finding the Right Card

    The key to successful credit card consolidation is finding the right card to move all of your balances. There are three options to consider: balance transfer cards , low interest cards  and one of your current cards. Here’s an explanation of the benefits of each:

    Balance Transfer Cards

    Every time you move a balance from one credit card to another, the receiving issuer is likely to charge a balance transfer fee for accepting the debt. Certain credit cards waive these fees to give people a chance to consolidate credit cards without incurring any costs. If you can find a card with no balance transfer fee, that will save you an average of 3% per transferred balance. In addition, a number of balance transfer cards have an introductory offer where you may not pay any interest for a number of months. This can save you a substantial amount of money. Make sure you thoroughly read and understand the terms and conditions of the new card.

    Low Interest Cards

    Low interest cards are great for credit card consolidation because of their low APRs. As an example, if you’re paying 19.99% interest right now, you can save a lot of money by switching to a card with an APR of 12.99%. Of course, your ability to transfer to this lower interest card will be determined by your credit score. If you have bad credit, you may not have the option to switch to a lower interest rate. You just have to see what cards are available for you.

    Ideally, you need to look for a card that offers a low balance transfer fee and a low ongoing interest rate so you can save money during both the consolidation and through the repayment process. If you are not able to secure a card with these features, you essentially have to weigh your options and determine what will cost you the most amount of money. If you are going to take a long time to pay back your balance, you may be better off getting a low interest card and just eating the transfer fees. If you are going to pay back your balance quickly, you might save money by getting a card with no balance transfer fees and slightly higher interest.

    Using a Card You Already Have

    You might be able to save on some fees by moving all of your balances to a card you already have. This allows you to avoid having your credit pulled again, and it may give you a chance to avoid the balance transfer fees you may experience on another card. You have to make sure that this card has enough available credit to accommodate your other debts. If so, this may be the alternative for you.

    Which of these three options is best will be determined by your personal financial situation. Do some mathematical calculations, figuring out how much you’ll pay on your current card, and how much you will save if you transfer your balances in each of these scenarios. Be sure to factor in the balance transfer fees and the introductory APR on the new card.

    Consolidating Credit Cards

    When it comes time to consolidate your credit cards, call up the companies that you no longer want to work with. Give them the information for your new card so they can charge it for the balance. Once that is complete, contact your new credit card company to ask if the balances have been moved over. If you’re using a different card from the same company, you may not have to switch phone calls to do this.

    Note that it may take some time for your balances to appear. It may take anywhere from one to ten business days. If you want to watch your account online, you can check it every day and see when the charges come through.

    Paying Back the Balances

    Credit card consolidation doesn’t mean anything if you don’t use it to pay off your debts. You have to make a proactive plan to back down these balances so you can get your finances back on track. The sooner you pay off your debt, the less money you will pay in interest. You will also be able to take advantage of promotional rates that most cards offer for the first year of use.

    Calculate how much money you can afford to pay on your balance each month, and strive to pay even more than that amount. Even something as small as an additional $50 month will make a big difference over time. Make micropayments on your card as often as possible. Stop charging anything new on your card–there is no reason to add to the balance unless it is an emergency. Don’t get caught up in the minimums. Those will give you false hope that you’re getting somewhere with your debt. The only real way to do it is to pay as much as possible as quickly as you can.

    What is the best way to consolidate credit cards? Find the right alternative for you and then pay off the balance as soon as possible. If you can do that, you’ll feel a lot better about yourself and start to see your credit score improve.

    The information contained within this article was accurate as of July 8, 2013. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer’s website.



    Ripoff Report #simple #loan #agreement


    #montel williams loans
    #

    Don’t let them get away with it! Let the truth be known!

    • Update a Report
    • Program Services
    • Help FAQs
    • Consumer Resources
    • Verified Business Directory
    • Legal Directory
    • Consumers Say Thank You
    • In the Media Repair your reputation the right way Corporate Advocacy Program

    Reputation Management

    Corporate Advocacy Program

    This is the best way to manage and repair your business reputation. Hiding negative complaints is only a Band-Aid. Consumers want to see how a business took care of business.

    All business will get complaints. How those businesses take care of those complaints is what separates good businesses from bad businesses.

    Consumers love to do business with someone that can admit mistakes and state how they made improvements.



    90 Day Loans Business Review in Duluth, MN – Minnesota and North Dakota BBB #what #is #an #fha #loan


    #90 day loans
    #

    90 Day Loans

    BBB Accreditation

    90 Day Loans is not BBB Accredited.

    Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

    11 E Superior St

    *90 Day Loans is in this range.

    Types of Complaints Handled by BBB

    BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

    • Advertising or Sales
    • Billing or Collection
    • Problems with Products or Services
    • Delivery
    • Guarantee or Warranty

    We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.

    BBB Complaint Process

    Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 10 days, and if a response is not received, a second request will be made. You will be notified of the company’s response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

    Industry Tips for Check Cashing Service

    What is BBB Advertising Review?

    BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.

    What government actions does BBB report on?

    BBB reports on known government actions that are relevant to the business’s marketplace dealings with the public.

    About BBB Business Review Content and Services



    What Is Needed for a No Doc Loan? #financial #loans


    #low doc loans
    #

    What Is Needed for a No Doc Loan?

    No Documents

    For a traditional mortgage loan, borrowers must prove their gross monthly income by sending their lenders copies of their last two paycheck stubs, two months of bank account statements and last two years of income tax returns. In a no-doc loan, though, borrowers, in the simplest of cases, do not have to send their lenders any documents to verify their incomes. Lenders simply approve a no-doc loan based on borrowers’ credit scores and stated income. To qualify for such a loan, though, borrowers will need high credit scores. Today, most lenders consider credit scores of 740 or higher to be in the “good” to “excellent” range, so borrowers seeking no-doc loans should have a score at least that high.

    Who Are They For?

    Several kinds of borrowers might want a no-doc mortgage loan. Those who are self-employed won’t have the paycheck stubs that so many lenders require for a traditional mortgage loan. People who make a large chunk of their yearly income through tips or bonuses might also struggle to verify much of their income and might turn to no-doc loans as a result. Sometimes, people who are extremely wealthy might choose a no-doc loan as a way to maintain their privacy.

    Varieties

    Penalties

    Trending in Your Area

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  • What Is Mortgage Payment Protection Insurance – Pros – Cons #poor #credit


    #loan protection insurance
    #

    What Is Mortgage Payment Protection Insurance Pros Cons

    By Chris Bibey

    If you have a mortgage on your home, chances are you ve gotten plenty of offers for mortgage protection insurance. For example, shortly after I signed the papers for my new home, I started receiving mailers with information on mortgage protection insurance. It has now been more than a year, and I am still receiving these offers.

    When you re inundated with these mailers, it s difficult to know what to take seriously and what to throw out as junk mail. Plus, why does anyone need mortgage protection insurance anyway? Answering these basic questions will help you the next time you see an offer in your mailbox.

    What Is Mortgage Protection Insurance?

    Generally speaking, mortgage protection insurance will cover some or all of your monthly mortgage bill in the event that you lose your job or become disabled, for various lengths of time. Most of these policies will also pay off your entire loan should you pass away. Policies can differ greatly from one agency to another, so you need to know what a given policy offers for the price.

    Often, you ll have the option to purchase mortgage protection insurance from your lender. You don t always have to take them up on the offer, however, since you can also obtain mortgage protection through most insurance agencies and other independent sellers. Shop around because different agencies will have different coverage options and prices.

    The cost of mortgage protection insurance varies from person to person, and as with life insurance. your rate is based on your age and health, as well as the current value of your home, the amount of your regular payment, and the current payoff amount of the mortgage. With policies that make monthly payments in the event of a disability, your cost will vary greatly based upon the industry in which you work. A roofer, for example, is at a higher risk of disability than an accountant.

    If you purchase mortgage protection insurance that pays off your loan in the event of your death, your insurance company will send a check directly to your lender for the current payoff amount on your mortgage. In turn, your heirs won t have to deal with a home that has a mortgage attached to it. If your insurance covers disability or job loss, they may not cover your entire mortgage payment. Instead, they ll cover a certain amount that s specified in your contract.

    Mortgage protection insurance is not the same thing as private mortgage insurance, which goes to the lender if you default on your mortgage, and doesn t have a specific benefit for you the borrower. Mortgage protection insurance, however, protects you as a borrower. Although many lenders offer the insurance, it s not built to protect them.

    Benefits of Mortgage Protection Insurance

    1. Very high acceptance rates. There are very few reasons why an insurance provider would turn you down for mortgage protection insurance. While many people are counting on their life or disability insurance to cover these costs, some people have trouble getting life insurance because of their age or pre-existing medical conditions. If you re in this scenario, then mortgage protection insurance can be your best option to protect your family s standard of living.
    2. Peace of mind. As with any insurance policy, you never really know if you will ever use the insurance. But the safety net of insurance provides peace of mind. Some people go to work every day wondering what will happen to their home if they lose their job or become disabled. With the right mortgage protection insurance, you don t have to stress and you ll know that your payments will be made.

    Drawbacks

    1. Maximum payment limitations. If you lose your job, your policy will not provide a sum of money equal to your normal monthly wages. Instead, how much you receive will be defined in your contract policy as a set amount or percentage. This may not seem entirely fair at first, but insurance companies place this limit to motivate a quick return to work.
    2. Balancing your budget. If you have a very low mortgage payment, mortgage protection insurance may not be worth the commitment for you. Conservative investing in an emergency fund can give you enough of a cushion to make your monthly payments during unemployment or a disability. Maintaining an emergency fund  about 3-6 months salary is your way to make sure you can stay up to date on your payments without surrendering the monthly premium to an insurance company.
    3. Declining value over time. If you take out a $200,000 life insurance policy and keep paying your premiums, your heirs will receive $200,000, regardless of when you pass away. Mortgage protection insurance, however, only covers the payoff amount on your mortgage, which goes down as you keep paying it every month. That means if you ve owned your home for 20 years, and you originally had a payoff amount of $200,000, your payoff amount will have declined significantly by now. Despite that falling payoff amount, you ll still probably be paying the same premium on your mortgage protection insurance.

    Alternatives to Mortgage Insurance

    Many people use mortgage protection insurance in place of or along with traditional life insurance or disability insurance. If you can get approved with a good rate for either of these products, you can count on having that money in case of disability or death as long as you are able to maintain your premium payments.

    Few agencies, however, will offer job-loss insurance, and some mortgage protection insurance plans will cover some or all of your mortgage payments if you lose your job. You can also focus on beefing up your emergency fund so you ll be able to cover several months worth of mortgage payments in case you become disabled or lose your job.

    Final Word

    If you have a risky job or health concerns that make life insurance or disability insurance difficult to obtain, you should look into your options in mortgage protection insurance policies. Make sure you take the time to shop around before making a final decision you need to know the details of the policy before you commit. Questions to ask include what the policy covers, the monthly cost, the payout you can expect, when the policy would pay out, and any other features that are important to you and your family.

    Have you used mortgage protection insurance? How did it work out for you? If you don t carry mortgage protection insurance, what s your backup plan?



    What Is Consolidation? #loans #for #people #with #bad #credit


    #consolidation
    #

    Other People Are Reading

    Identification

    Debt consolidation is the process of taking multiple forms of high interest debt, usually in the form of credit accounts, and then getting them under one managed consolidation account. Some people opt to have a professional debt consolidation firm help them get their bills under control, while others prefer to deal with the situation on their own. Debt consolidation is normally accomplished by securing a loan that will be enough to pay off all of the debt at a lower interest rate than the rates on the existing credit accounts. There are other options to debt consolidation that are available to anyone looking for help with their obligations.

    Types

    The most common type of debt consolidation program is a loan that is put together and administered by a debt consolidation organization. If there is sufficient equity available in the consumer’s home then they may want to look into a home equity loan or home equity line of credit to use as a consolidation vehicle. Some people use either secured or unsecured personal loans to help bring their bills together. A secured personal loan is a personal loan that requires personal property to be used as collateral to back the value of the loan, and an unsecured loan is a loan that is granted without the need of collateral. Some consumers use special credit card offers to consolidate credit. These special credit offers allow consumers to get a credit card with a limit that is enough to consolidate their current debt under the one card, and in some cases the consolidated balance carries a zero percent interest rate which allows a significant savings to the consumer.

    Benefits

    Credit consolidation will allow a consumer to bring a series of high interest credit accounts under one low interest loan which immediately reduces the interest obligation for the consumer. The several service charges will also be eliminated and replaced by one service charge which helps to reduce the monthly payment. The consumer is better able to pay their debt each month, and they may also find that they have extra cash each month that did not previously have.

    Misconceptions

    Debt consolidation programs administered by a debt consolidation company appear on the consumer’s credit report as a consolidation account. Until the account is paid off, this can have a negative effect on the consumer’s credit score. If the consumer is able to secure their own financing through an equity loan or a personal loan then they may be better served as a those types of financing have a positive effect on a credit score. Many people turn to debt consolidation companies because they are unable to secure financing on their own that is large enough to cover their debt. It is recommended that a consumer do research on a debt consolidation company before signing an agreement to make sure that the company is reputable and has an established history.

    Considerations

    Some people consider debt consolidation when they are still able to pay their monthly bills. In some cases the consumer may want to talk with a debt counselor as opposed to a debt consolidation company. It may very well be that with some creative financial moves the consumer will be able to create their own bill payment plan that will not require any outside financing. This option is sometimes preferred to taking on a consolidation program or a personal loan.



    What is FHA Loan #easy #loan


    #what is an fha loan
    #

    Let the FHA Help You

    What is an FHA Loan ? FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) which is part of HUD insures the loan, so your lender can offer you a better deal.

    What is an FHA Loan ?

    • Low down payments
    • Low closing costs
    • Easy credit qualifying

    What is an FHA Loan?

    The Federal Housing Administration (FHA) (Mortgage loans) promotes home loans to market buying homeowners. These kind of packages are generally popular simply because they let consumers purchase a house with little to no money down with flexible credit requirements.

    What is an FHA Mortgage Loan?

    When a consumer purchases real estate and takes a loan out in order to secure the property a mortgage(promissory note) is created- A promise to repay the loan. The loan is made by a creditor to the consumer. The FHA insures the loan to the lender in the event of default the lender will be indemnified for their losses. As a result it allows the lender to feel more comfortable to make the loan.

    From the FHA insuring the loan this allows more lenient loan requirements and more opportunities for people to own a home. For example, a person could buy a home with $0 Down or just 3.5% down as opposed to putting 20% down if they went to a bank to get a loan. Also, with the FHA, the closing costs can be paid by the seller or put into the loan. Even if the property needs repairs you can get cash back to fix the home. If you were to get a loan from a bank you would have to pay a large down payment, pay your closing costs and could not get funds for repairs.

    Who Is approved for an FHA loan?

    Everyone can apply for an FHA Loan! There are no location restrictions and  no income restrictions. The FHA also has no credit score requirements. The lender making the loan will have their own credit requirements, we lend down to a 500 credit score. First time home buyers are encouraged to apply as they are candidates for 100% financing. Existing homeowners can also apply for an FHA Loan. People interested in buying a mobile home, building a home or repairing a home can also apply. The FHA mortgage cannot be used for second homes or investment properties.



    100 Day Loans USA #best #bank #loans


    #100 day loans
    #

    Welcome to 100 Day Loans USA!

    Getting your budget work according to your expenditure is a never-ending story! However, at 100 Day Loans USA, we help you take a diversion to combat your financial mismanagement. Our website 100DAYLOANSUSA.COM will take you through a lot of information on how we work and what are our special features!

    We assist you to match the best deal in the market so you can immediately get out of any unhealthy financial situation.

    Just click on GET STARTED to fill up the application form. This form requires some personal information from you such as your name and date of birth, employment status (including designation and regular income source) and bank details (including your bank routing number and checking account number).

    Our vast connectivity to hundreds of loan resources that can benefit you by providing you with a loan or cash advance ranging from $120 to $1200 with various terms of which some can definitely make a match with your requirement. 100 Day Loans USA does business on complete transparency and flexible payment plans. As an intermediary or connecting source, we try our best to assist you in making few terms and conditions clear before signing up on a loan approval document.



    100 Day Loans: Scam or Sound Decision? #federal #student #loan #consolidation


    #100 day loans
    #

    Does 100 Day Loans Really Work?

    100 Day Loans is just one of several payday loan brokers that promises to find you a personal loan quickly, and without a lot of hassle. If you ve been searching for a lender, you might be enticed by the prospect of a matching service and filling out just one application instead of several. But does this actually work, and will it result in you getting a loan, or are you just coughing up your personal information for nothing?

    The hype about 100 Day Loans mostly comes from their name. They don t state anywhere on their official site that you get 100 days to pay off your loan, but many review sites out there have mistakenly told consumers that this is indeed the case. You have the normal time allotted for payday loans, typically your next payday unless that comes too soon, like less than a week. So most likely you will not have anywhere near 100 days, and more like 2 weeks, standard in the industry.

    There s no cost to you, it s free to apply. The cost is passed on to the lender that you go with, and they happily pay the fee in order to acquire a new customer. It s not known what sort of fee they must pay, but it does not effect the cost of your loan, and you won t be paying a higher rate than if you would have dealt directly with the lender by finding them on your own.

    The Commitment

    You ll have the same sort of commitment that you would with any other payday loan lender out there, because that s who you ll be dealing with. 100 Day Loans is not an actual lender, but is just a broker that has compiled a network of lenders and a software system that allows them to quickly search through them and match them up with your specific needs and income level.

    Evaluation

    If you come to terms with the fact that doing business with a payday loan company is not really going to benefit you at all, but could only potentially save you from NSF charges and late fees, 100 Day Loans is not a bad company. In fact, they are not part of the problem, because they re not lending you any money directly, and they re not increasing the amount you ll end up paying to get the loan.

    Here is the most clear-cut and concise explanation of how payday loans work, and what you re getting yourself into:

    The fee that 100 Day Loans collects is taken from the lender as a finder s fee for bring you to them. Think of them as headhunters that are in business to collect your information and sell it for a tidy fee. It is not known how much they take from the lender for sending them the lead, but it is probably a nominal fee, which adds up from the high volume of applications they process.

    Final 100 Day Loans Review

    Some people ask if 100 Day Loans is a scam, and others have even lumped them into pot with all of the other payday loan lenders, but this is not really fair. They are a payday loan aggregation service, taking a mess and organizing it for you so you don t have to sift through hundreds, and even thousands of lenders out there. It s hard to make a villain out of them, since they are free to the consumer, will potentially save you hours trying to find the right lender, and provide a secure way of delivering your information.

    There is one part of the process that many people don t like, and that s the part in the terms and conditions that openly states that your information will be sold and shared with all of the lenders in the network. Reports show that you ll be inundated with spam after you fill out your application, which is why we recommend opening a separate email account for the application process, or using your filters in Gmail to help it avoid the inbox.

    Our Recommendation

    If you absolutely need a payday loan, then the 100 Day Loans service is a good way to find the best rate for you, and the highest amount available to lend. It definitely beats going from site to site trying to find a lender that will loan to you at rates and conditions that you approve of. Also, it beats having to fill out form after form with the same information, especially when many online lenders work together and share information any way.

    What do you think? Does 100 Day Loans work or not?



    Riverset Credit Union #loan #amortization


    #credit union loan
    #

    Welcome to Riverset !

    At Riverset Credit Union, we strive to make a difference in the region by helping our members grow savings to establish credit and build assets. And we re committed to enriching communities where we work and live through employee volunteerism and sponsorships. All individuals in Allegheny, Beaver and Butler counties are eligible to open an account.

    Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government by the National Credit Union Administration (NCUA ). a U.S. Government Agency. View notice of changes in temporary NCUA Insurance Coverage for Transaction Accounts here.

    Riverset Credit Union Community Involvement

    At Riverset, we feel a deep connection to the community and want to make a difference. As evidenced by our mission and core values Riverset believes in being a responsible neighbor. We regularly participate in and sponsor various events and volunteerism initiatives to better the quality of life for those around us.

    More Community Involvement



    RPTIA Credit – Loans for People With Bad Credit #guaranteed #personal #loans


    #unsecured loan bad credit
    #

    Personal Loans for Bad Credit Available Nationwide

    Are you looking for a bad credit loan, or are you in need of special financing? If so, you are at the right place. We provide nationwide personal loan services and offer one of the leading online bad credit lender programs available in the United States. Our loan services are especially designed to help people with poor credit get quick cash and the necessary financing that is needed. When you have bad credit, it is usually difficult to find a lender who will finance you without asking for security for the loan. In most cases, lenders will not even consider your application. However, this does not mean you cannot get financing.

    RPTIA is comprised of the Nation’s top bad credit lenders specializing in providing personal loans for people with bad credit. You now have all the programs at your fingertips that you can qualify for even with limited or poor credit. With our nationwide network of reputable lenders, you can quickly get the financial assistance you need without the conventional harsh restrictions. Our program is specifically designed to help people with bad credit to get an online loan approval and unlike traditional loan programs, our lenders understand the situation that you are in. In fact, we have one of the highest approval rates in the industry. Most of our clients are just people like you and are getting financing within a few minutes after submitting their online application. So, what do you really need to qualify for an instant poor credit loan?

    Requirements for Applying Online

    Generally, to be approved for a loan, you really do not need to worry about your credit rating or having a cosigner. In fact, if you are over 18 years old and have a stable income, you are likely to be approved for a small or large loan.

    The main requirements for financing include:

    • Be a legal US resident
    • Be 18 years old or older
    • Have an active checking account
    • Have proof of employment or steady income

    If you meet the above requirements, you are a perfect candidate for online loans. To get your free online approval today, simply go to our secure online application to get your loan. You will get an offer for an emergency loan at the best rates in the market.

    Why Apply for Bad Credit Loans With Us?

    We are a trusted financial services provider and have helped hundreds of thousands of people with poor credit get the financing they require quickly. By applying with us, you can rest assured that you are working with a professional company that has your best interest at heart. Our streamlined application is simple to complete and gives you access to literally hundreds of loan programs that provides loans for people with bad credit, no credit, and other tough to finance circumstances.

    Here are some reasons why our customers love us:

    • One of the largest online lender networks
    • Easy online application with no upfront fees
    • Instant application processing, generally takes less than 2 minutes
    • No obligation required; your offer is presented and you can either accept or decline it
    • Programs range from small to large loans

    When it comes to loans for bad credit our service is second to none. Loan programs range from small loans for those times when you only need a few hundred dollars all the way to large personal loans and auto loans. You have found the one stop spot that has the Nations top lenders for bad credit and we have streamlined our online application so getting your loan is easier than ever!

    Apart from helping borrowers get quick no credit loans, we also provide other financial solutions like debt consolidation loans, payday loans, auto loans and cash loans. We have credit programs available that can meet any financing requirement you have. Go to our secure online application now to get approved for your loan today.

    All online applications are processed through our secure server and all data is encrypted as it is delivered to your loan officer. No personal information is stored online to further protect our customer’s privacy.

    Bad credit solutions

    Auto, Personal, Cash



    What is an FHA Loan? #how #to #apply #for #student #loans


    #what is a fha loan
    #

    What is an FHA Loan?

    Many prospective homeowners want to know, what is an FHA loan . What are the advantages over other types of loans? For many potential home buyers, an FHA loan presents you with several advantages over a traditional mortgage. The FHA is a government-backed program that attempts to give home buyers a leg up on the mortgage market. Here are a few aspects of an FHA loan.

    Government Guaranteed

    The most important aspect of an FHA loan is that they insure the loan against default. This means that if you cannot pay off the loan, the FHA will repay the lender. Therefore, it represents a very low risk opportunity for the lender. With this type of guarantee. mortgage lenders can provide mortgages to many people that they otherwise would not. It helps people with lower credit scores and those who do not have enough income to qualify for the mortgage that they need. It opens the door for almost anyone to own a house.

    No Restrictions

    Unlike many other loan programs out there, there are no restrictions on who can get an FHA loan. You still have to display a certain level of creditworthiness, but you do not have to be a part of a certain group to qualify. For example, you do not have to be a veteran in order to get an FHA loan. You simply walk into your local mortgage lender and ask to apply for an FHA loan. Most lenders work with the FHA to provide loans in every market. Therefore, the access to this type of loan is unparalleled in the industry.

    Low Down Payment

    Another way that FHA loans help buyers is with a reduced down payment. With this type of loan, you can realistically expect to put about 3.5 percent down on the house. With a regular loan, you might be required to put down as much as 10 to 20 percent. This can add up to a substantial amount of money and eliminate many potential buyers. If you think you do not have enough money saved up for a down payment to buy a house, an FHA loan is definitely something that you should consider.

    With FHA loans, they will charge you an upfront fee to cover mortgage insurance. Their closing costs can be lumped into the loan, so you have to be careful to see what you are paying. In some cases, this fee can actually add up to more than PMI with a normal mortgage would. The upfront mortgage insurance premium usually works out to about 2.25% of the loan amount. On a $100,000 loan that works out to $2250 in mortgage insurance.

    In addition to the upfront mortgage insurance premium, you will also have to pay a monthly amount for mortgage insurance. In most cases, this is about 0.55% of the loan amount. Therefore, you have to consider your options carefully with this type of mortgage. You will save in some areas and pay more in others. Compare your options and decide if an FHA loan is right for you.



    100% USDA Home Loans For Buying A House With Bad Credit With No Money Down #consolidate #private #student #loans


    #usda home loans
    #

    100% USDA Home Loans For Buying A House With Bad Credit With No Money Down

    Posted on 07/22/2010 10:22:45 AM PDT by Lorianne

    Rural Home Loans For People With Bad Credit And Single Mothers __ The USDA Farm Home Loans program provides low interest fixed monthly mortgage payment terms to help low and moderate income households afford a house of their own to keep the family together. In such difficult economic conditions, such rural home loans from the United States Department of Agriculture, Rural Development Branch, can offer better credit flexibility compared to traditional lenders in the troubled and sluggish housing and lending market.

    Do not be too put off by the rural home loans name of this program since many semi-rural properties just outside city limits also fall within the USDA farm home loans eligibility and will not seriously affect your transport options and commuting time to work or schools in the city and business district.

    Farm Home Loans – Buying A Rural House With Bad Credit

    That is a small price to pay in return for 100% mortgage financing and no down payment home loan financing under this USDA rural development farm home loan program. Lack of funds for down payment towards buying a house is the biggest problem faced by many low and middle income families in the country.

    USDA Rural Residential 100% Financing

    With the new Housing Rescue Bill passed in 2009, seller funded down payment assistance and zero down FHA mortgage lending are banned, leaving many bad credit home buyers that cannot meet the minimum 620 FICO score guidelines and down payment limits without any options.

    However, many do not realize that it is still possible to buy a house with no money down via USDA farm loans. You can now avoid home ownership problems by borrowing up to 100% of the latest appraised value of the house you have in mind that falls within the USDA rural housing districts.

    USDA Rural Farm and Housing Loan Qualifications The USDA Guaranteed Home Loan has a fairly easy and prompt approval process, and the available federal funds for this rural housing service program are not facing any shortages so far. Compared to FHA house mortgage loans, there are no monthly PMI private mortgage insurance necessary and only a 2% upfront fee is charged which can be financed by the loan as well.

    You get a 30 year low interest fixed rate rural mortgage with zero early prepayment penalty. The government underwrites and guarantees all USDA rural home loans made by the private lenders such that they will be reimbursed in the event that any borrower defaults on the repayment. As with the usual FHA arrangement, house buyers work with approved USDA home loan lenders directly while the government plays the role of the guarantor and underwriter. Monthly mortgage repayments are thus made directly to the lender and not the USDA.

    How Can I Apply For A USDA Home Loan With Bad Credit And No Down Payment? This USDA housing loans assistance program has quite lenient loan requirements compared to private and even the latest FHA mortgage guidelines. Although you need to demonstrate a stable employment record for the past two years and your income must meet the relevant limit guidelines on the area where you intend to buy a house with USDA farm loans, there is no minimum FICO credit score requirements to be concerned with.

    The given USDA rural development loans can be used on buying new houses, existing homes, new construction and home improvement projects. Although the USDA rural development loan rates are very low, note that all repairs, renovations or new constructions must be done by a licensed contractor if you intend to do 100% USDA home loan financing.

    Finally, all the upfront fees and USDA closing costs can be financed by the seller, with 100% gifting arranged allowed such that borrowers do not need to come up with any minimum cash contributions. If you are a first time home buyer or have not owned a home over the past three years, the USDA home loans also allow you to use the Housing Rescue Plan HR3221 bill to buy a new home with no money down and still get up to $7500 of tax rebates. This tax credit must be paid back over a 15yr period at $500 a month interest free starting the following year.

    USDA Rural Home Loan Rates Based on current USDA rural home loan rates and the median rental costs in the same sub-rural residential area, you can buy a home with appraised value of $175,000 that costs just as much as if you were to pay for rentals. Many families have to use a large portion of their income for rental property and never get to fully own a house of their own due to problems coming up with the down payment.

    With 100% USDA home farm loans, these low income families can now truly buy a home with no down payment and on low mortgage interest rates. The exact USDA home loan rates offered is determined on a case by case basis depending on the total income of the borrower and financial status of the household.

    For example, a single mother with 3 dependent children can expect as low as 1% USDA home loans rates under the government subsidized mortgage program. For families with higher income or two working parents, the rates are still very competitive compared to private mortgage loan rates.

    Note that applying for farm loans does not mean you will be living like a farmer, giving up on convenient amenities in the city and quiting your office job to start growing apples. Most sub-rural properties that meet the USDA loan eligibility locations are not more than 30 minutes drive from the nearest major cities.

    You get to enjoy living in less densely populated areas and the USDA rural development loan will also finance land up to five acres. Before you buy a new manufactured home and land package, their staff will also help you inspect the property in detail for to make sure it is built according to safety specification codes.

    Buy A House With No Money Down With 100% USDA Home Financing Farm Equipment Loans

    If you have been denied from other government assisted mortgage loan programs due to poor FICO credit score or lack of funds for the down payment, upfront fees, mortgage closing fees etc, you should seriously consider applying for USDA rural development loans instead of continuing to pay money on rentals as tenants. Many households have already benefited from being able to buy a house with no money down using 100% USDA home loans financing and more families are starting to join the program.

    Shirley Sherrod: Department of Agriculture has more money for low-income housing loans than ever

    http://freerepublic.com/focus/f-bloggers/2556897/posts

    Georgia gets another $30M for home loans http://www.effinghamherald.net/news/article/11046/

    http://www.freerepublic.com/focus/f-news/2555580/posts

    USDA Rural Development s direct loan program has many positive features including 100 percent financing and low-interest rates. House payments are based on household income. The program also has built in provisions, for example, so that down the line, if someone loses their job, mortgage payments can be deferred and rolled into the end of the loan. This provision is only available to Rural Development borrowers after the loan has closed and isn t available to families that have homes from other lenders.



    What is an Installment Loan? #no #fee #loans


    #installment loans no credit check
    #

    What is an Installment Loan?

    Definition

    An installment loan is a loan in which there are a set number of scheduled payments over time. Many different types of loans are installment loans, including mortgages and auto loans. A credit card may require a monthly minimum payment but it is not an installment loan.

    Example

    Let’s say John wants to borrow $1,000 for an emergency home repair. John takes out an installment loan that requires him to pay the amount back in 24 months at a 25% interest rate. In an installment loan, John would get a check for $1,000 and then pay regular monthly payments of $53.37 for 24 months.

    Installment Loans vs. Payday loans

    In general, payday loans are for a shorter duration, have a higher interest rate, and are often paid back in a single lump sum payment on the borrower’s next payday. In contrast, an installment loan can last for many months and payments are evenly spread out over the term of the loan.

    Assisting with Bad Credit

    Installment loans can be used to help build credit for people with bad credit, poor credit or no credit history. Since installment loans require multiple payments over time, they may help create a history of repayment. At Avant, payment history is reported back to credit reporting agencies and may help improve a credit score if a borrower makes timely payments.

    Duration

    At Avant we offer unsecured installment loans (no collateral required) with terms that range from 24-months to 60-months.**



    What Is An Average Interest Rate On A Poor Credit Car Loan Bad credit no money down used car loans 2014. #federal #college #loans


    #car loan interest rate
    #

    What Is An Average Interest Rate On A Poor Credit Car Loan

    Do you have poor credit? Looking out for a car at some stage or the other in life is a common thing. Even if a person has a poor  credit history, the desire to buy a car cannot stop him from finding different ways of buying it. There are a number of people, even after having a bad credit are still on the look out for a new car.

    They may also not be fully aware of the interest rates or APR that will be required to be paid for the loan that they will avail from the loan company. As regards the rate of interest, they really do not know, exactly what rate of interest will be asked by the car dealers.

    Market conditions affect the rate of interest:

    The average loan rate for cars can be anywhere between 4% to7% for those having a good credit. The rates of interest depend greatly on the source that you are going to use for financing the car. It should be noted that the market conditions also affect the rates of interest on the car loans.

    The rates can vary dramatically, when the borrower has a bad credit. For instance, an average subprime poor credit score of 550 could give you interest up to 14.29% The varying rates of interest on the car loans are to be well understood by the borrower of the car loan. Hence it is a very crucial issue for the borrower to find the right financing company or auto dealer for the auto vehicle.

    A good source like credit.com offers advice that enables the borrower to have a fairly reasonable rate of interest to be paid for the car.

    A car having in-house financing even attracts interest rates of 20% and even up to 28% depending on the place you are staying. I would advice against in house financing and refer instead to credit union for car loans. The maximum interest credit union can charge for a car loan is 18%.

    Some of the establishments that charge such unreasonably high interest rates were actually unregulated in the past, and to regulate them the state laws had to intervene to control such situations, so that things don’t go out of hand.

    There is no such thing as an average interest rate on a car loan:

    Many variables and conditions are responsible for determining the rate of interest on the car loans. Many factors are responsible, when you wish to obtain the lowest rate of interest for your car loan, even when you have a very poor credit. It is the lending source that determines the rate of interest.

    There can be a possibility, where you have to pay a higher rate of interest on car loan with poor credit, than someone else who has a credit history that is excellent. So it is best if you do a thorough research and explore all possibilities before you accept any offer of the interest on the loan.

    Accepting an interest rate of above 12% needs a thorough research from your side. Having to make unnecessary high payments of interest could be the worse thing that you can face. Improving your credit in the future and getting ahead with payments, gets more and more difficult as you keep shelling out huge amounts on the interest.

    Making use of the reputable and legitimate sources available online are very useful in obtaining the lowest interest rates on your car loan. Services offered by the lending companies keeping varying from one another. Some of the lending companies may be more reputable than the others, so it is important for you to be doubly sure before you finally sign the loan contract.



    What Is a Real Estate Secured Loan? #best #mortgage #rates


    #real estate loans
    #

    What Is a Real Estate Secured Loan?

    by William Pirraglia

    Real estate secured loans can be home mortgages, equity loans or commercial financing.

    First Mortgages

    First mortgages on residential property are the most popular form of real estate secured loans. When you buy or refinance your home or a rental property, you get a first mortgage, so called because the lender has the senior lien on your property, recorded before any other claims on your home. The amount of money a bank will lend you is based on the value of the collateral, your home, that you offer and your income level.

    Second Mortgages and Home Equity Loans

    Second mortgages are the next most popular real estate secured loans. These are offered based on your equity, or ownership, level in your home. Whether called second mortgages or home equity loans, these are both dependent on the amount of your equity in the property. The more equity you have and the more your home is worth, the more you can borrow. You might also get another type of loan, such as a commercial loan, that offers better terms if you pledge your home as collateral.

    Home Equity Line of Credit



    What Is a Secured Loan? Should I Choose One? #loans #on #line


    #collateral loans
    #

    Secured Loans

    By Miriam Caldwell. Money in Your 20s Expert

    Miriam Caldwell is a freelance writer with a specialty in personal finance. She believes that you can lay a solid foundation by starting to manage your finances in your twenties.

    Continue Reading Below

    Banks will do this for customers who are trying to rebuild their credit history. The credit limit will be about the same amount as the CD and if you fail to pay, then the bank takes money from the attached CD.

    If you have unsecured debt, you should not transfer it into a secured loan. Many people do this by taking out a second mortgage to pay off their credit card builds or taking a title loan on their car to pay off other bills. This puts your home or car at risk if you were to default on the loan later on.

    Secured loans are available to people who have been denied unsecured loans. They are an excellent way to work towards building your credit score. Banks like them because there is less risk involved. The lower interest rates are also an advantage to choosing a secured loan. You should be careful as you choose what you will use as collateral most banks require a home or a car in order to give the loan, although a savings account such as a CD may work, but you will not be able to access that money for the entire duration of the loan.



    What is a Microloan? #next #day #loans


    #micro loan
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    What is a Microloan?

    The term Microloan has become a bit of a buzzword, but many people are confused about what precisely a microloan is. How big can a microloan be? Are microloans only for people in developing countries? Do you have to be a member of an underserved community in order to qualify ?

    While the word microloan is frequently tossed around, here is some information from the US Small Business Administration that might be useful.

    Information below from http://www.sba.gov/content/microloan-program

    Microenterprise

    A microenterprise is a small, locally owned business with up to 5 employees and approximately $50,000 in capital needs.

    Microenterprises serve an important purpose in improving the quality of life for people in both developed and developing  countries. Microfinance serves microenterprises by loans of small amounts of capital to these businesses. This allows individuals or families to start their own businesses, earn income and benefit their families and communities.

    Examples of microenterprises include small farms, landscaping services, small restaurants, and brick and mortar stores.

    Microloans

    Microloans are of  loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan in the U.S. is $13,000.

    The U.S. Small Business Administration provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.

    Use of Microloan Proceeds



    What is a Payday Loan? #citiassist #student #loan


    #payday loan
    #

    Payday Loans

    What is a Payday Loan?

    Payday Loans are known by a variety of names. Some of these names include Payday Advances, Cash advances, short-term loans, check loans, and deferred deposit loans. While there are many names for these types of loans, they all share the same purpose. Payday loans are intended to be convenient short-term loans for people who are in need of a little extra cash until their next payday. When an unexpected expense arises and you need some quick cash, a payday loan can help.

    How does it work?

    There are several different methods you can use to obtain a payday loan. The most common way is in person, at a financial service business that offers them. This method is the only way to get actual cash in your hand right away. Other types of Payday Loans, such as Online Payday Loans, Payday Loans by fax, or Payday loans by phone work by having the money deposited directly into your checking account upon approval of the loan.

    How Much do Payday Loans Cost?

    Nearly all payday loans cost between $10 and $30 for every $100 borrowed per two week peroid. A typical Payday Loan will cost $15-$30 for every $100, per two week period. (These rates may vary by lender) For instance:

    Borrowing $100 for two weeks may cost you a total of $115

    Borrowing $200 for two weeks may cost you a total of $230

    Borrowing $250 for two weeks may cost you a total of $287.50

    The actual fees charged will vary depending on the fees that your lender charges, as well as the amount of your loan. Extending your loan will increase the cost of your loan over time. Make sure you understand and agree to the terms of your loan before agreeing to accept the loan.

    Payday Loans are not intended to be long-term loans, and should not be viewed that way. These loans are not a solution to extensive financial hardships. When used properly, Payday loans can be far less expensive than having an overdrawn checking account, a late bill, a late credit card or rent payment, or a reconnection fee for a utility, cable, or phone bill. If, however you do not plan to pay back the loan in a short peroid of time, a payday loan can grow to be a very expensive option.

    You can apply online and get the cash deposited directly into your bank account, or search for a business in your area that issues payday loans if you prefer to apply in person.



    What is a Savings and Loan Association? #ez #loans


    #savings and loans
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    Characteristics of Savings and Loan Associations

    • Privately or locally managed financial institutions
    • Uses individuals’ deposits to make long-term amortized loans to home buyers .
    • Disperses loans for home repairs. construction. and refinancing

    The first U.S.

    savings and loan association was established in 1831, and the Federal Home Loan Bank System was set up in 1932 to administer it. The Federal Savings and Loan Insurance Corporation (FSLIC) was responsible for insuring the deposits of the savings and loan association. These associations underwent real expansion only after the Second World War. In the past, there were only two ways of organizing savings and loan associations: as mutual or capital stock institutions .

    The day-to-day affairs of the association are controlled by the officers and directors whose job responsibilities include organizing and operating the association in compliance with the state and federal laws. Thus, they are accountable for breaches of these common-law duties that may occur due to violation of state or federal laws or corporation bylaws. They are also responsible for selecting competent staff for managing affairs of the association, devise operating policies. monitor operations. and assess audit reports .

    Savings and loans can no longer afford to remain mere mortgage providers with their margins narrowing down as higher interest rates continue to inflate borrowing costs.



    What is a Government Debt Consolidation Loan? (with pictures) – mobile wiseGEEK #same #day #loans


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    wiseGEEK: What is a Government Debt Consolidation Loan?

    A government debt consolidation loan is a loan given by a government program or agency in order to help a person pay off debts he or she owes to multiple institutions simultaneously. The debtor basically surrenders all outstanding balances to the government entity, which will pay them and issue a new loan representing the balance owed, plus some degree of interest in most cases. People often like this sort of structure because of its convenience. They can make just one payment instead of many, and they don’t have to keep track of multiple due dates. Depending on the type of loan the interest rate might also be less.

    These sorts of loans aren’t available in all places or even for all debt. The United States typically offers the most robust debt consolidation services, and most programs there are designed for student loans, which is to say loans incurred for university education. Sometimes debt associated with home mortgages, car payments, and even credit card bills can be consolidated, but not always. A lot depends on jurisdiction and local laws.

    How It Works

    When a person signs up for this type of loan, a government agency or consolidation company pays off the debt in full to all of the collectors. The consolidator then issues a new loan for the same amount with a secure interest rate, which basically means that the rate isn’t going to change unless the borrower fails to make payments or otherwise defaults. In most cases these sorts of terms and conditions are agreed to by both parties at the outset.

    There are a couple of different reasons why government entities extend loans to citizens, but in most cases it’s in order to facilitate financial transparency and, ideally, to create more fluidity in the marketplace. People who have their debts under control are less likely to go bankrupt or become dependent on government aid, and in many cases will actually be able to spend more as a result of their reduced debt load. Over time this can improve the economic conditions of entire regions and localities. Governments also usually have an interest in helping citizens do things like get an education or purchase a home without incurring crippling debt.

    Variations

    Consolidation loans typically come in four broad types, known as “programs.” The standard payback plan sets a general monthly payment amount that is consistent over the time of the loan. An extended payment plan. by contrast, increases the time of the loan by decreasing the monthly payment, but typically carries a higher interest rate for this privilege. The graduated payment plan is something of a combination of both; it starts out with a lower monthly payment amount but increases after a specified time period. This sort of scheme is particularly attractive to people who aren’t making a lot of money in the present, but intend to make more as time goes by. Students are a common example.

    The fourth option is an income contingent plan that takes the borrower’s salary and earning potential into account when setting the monthly payment. Not everyone can qualify for this plan, and it’s usually designated for people who don’t make much to begin with. It’s also important to note that not all debts are eligible for all four programs, and neither are all borrowers. A lot depends on the specifics of the consolidation and the policies and rules of the consolidating agency.

    Common Examples

    At least in the United States, this sort of loan is most common in the higher education sector. The majority of American college and university students borrow money, often from various lenders. in order to pay their tuition; consolidation in these settings can help students secure competitive interest rates and simplify their monthly payments. Consolidation is also possible for various other sorts of debt, though a lot depends on jurisdiction, agency availability, and local laws. People can often consolidate home loans and mortgages, for instance. Some lenders will roll car loans or other personal property liens into this, in or might offer to consolidate these independently. In certain instances government agencies will also assume credit card debt, though this is less common.

    Primary Benefits

    One of the biggest benefits of government debt consolidation loans is their convenience. Instead of making loan payments to various vendors, the borrower is able to make one payment to one institution. The loan can always be paid on the same date, and the borrower does not have to worry about different arrangements and rules. Without the confusion of multiple payments, people often have a better chance of getting out of debt in a shorter period of time.

    In many cases monthly payments are lower, too, which can make repayment easier and can free up money for saving or spending. It’s often true that the length of the loan can be increased in order to decrease monthly payments and make repayment more feasible. There are usually a variety of payment plan options depending on the consolidation agency, and interest rates also tend to be very competitive, too, particularly for people without good credit scores.

    Risks and Warnings

    While consolidating is often a really good idea, it is not without its risks. Once the government owns a person’s debts, there isn’t usually any more room to maneuver. Sometimes the owning agency will be flexible with terms and conditions down the line, but not always. These sorts of loans are generally designed to be favorable to debtors, but they usually only work when payments are made promptly and on time. The penalties for default vary from institution to institution, but can in some cases be harsher with governmental bodies than they would have been in the private sector.



    Rural Development Loan #bank #loan #calculator


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    Rural Development Loan

    With a Rural Development Loan you can finance up to 100% of the homes value. In many cases this is the same as the purchase price but not always. There are times where the home actually appraises for more and in these cases you can finance in some of your closing costs. There are several other great features of the Rural Development Loan.

    Another feature of this loan type is that the monthly mortgage insurance is much lower than other loan types with mortgage insurance. For example on a $100,0000 loan you are only going to pay approximately $25 per month. This is much lower than FHA and Conventional loans. This could save the borrower thousands of dollars over the life of the loan

    There is a misconception that you have to be a First Time Home Buyer to qualify for aRural Loan. This is not true. Anyone can take advantage of the Rural Development Loan. There are restrictions that apply for those who own other properties.

    The Rural Development Loan does not have a minimum amount of reserves that a borrower needs in their account. The only requirement is in regards to any closing costs that are not paid by the seller, gift funds, or rolled into the loan. The borrower must show that they have the funds to cover these.

    Borrowers are even allowed to have gift funds. A good example of this would be when the seller is not paying all closings costs the borrwer could get a gift from someone to cover the difference.

    As you can see the Rural Development Loan is one of if not the best loan type available in todays market. Our staff has a great amount of experience working with borrowers who need a Rural Development Loan. Please feel free to call us or fill out the form below to get more information.



    What is a Guarantor? (with pictures) – mobile wiseGEEK #bad #credit #car #loan


    #guarantor loans
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    wiseGEEK: What is a Guarantor?

    A guarantor is a person or company that guarantees that a loan or other type of debt will be paid. Usually, this person or company agrees to pay another person’s debt or perform that person’s duty if he or she should fail to do so himself or herself. The term is most commonly used in reference to financial assistance. A parent who cosigns a student loan for a child could be considered a guarantor; if the child defaults on his or her debt, the parent would be held liable for the remainder of the loan.

    Why Guarantors are Used

    Generally, loan applicants use guarantors if they believe that they will be unable to secure a loan on their own. This might be the case for applicants who have poor credit or no credit history. Individuals and businesses can serve as guarantors or can have guarantors for their loans. In the case of multiple guarantors, each one usually is liable for the entire amount of the debt. Some lending institutions require guarantors to be bonded for a certain amount usually a percentage of the loan so that the institution can be confident that the money is recoverable.

    The use of a guarantor on a loan application does not ensure that the loan will be approved, because the person who guarantees the loan is considered part of the loan application, so the credit rating of that person or company must be evaluated along with the loan applicant or applicants. If the lending institution believes that the guarantor cannot make good on the debt if the primary applicant defaults on the loan, then the lending institution will not approve the loan. When seeking a guarantor, someone who needs a loan should keep this in mind.

    Before agreeing to serve as a guarantor, a person should assess the primary borrower’s credit, income and expenses to determine whether he or she is capable of paying back the loan. The person who guarantees the loan must be prepared to repay the entire amount if necessary and should not agree to guarantee a loan if he or she is financially unable to do so. Anyone who is considering whether to become a guarantor should obtain a copy of the loan contract and should be sure to read and fully understand it before signing it. After signing the contract, there is no way for him or her to back out of the agreement.



    What is a Logbook Loan #credit #consolidation


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    What is a Logbook Loan

    Customizing A Short Term Loan For Your Unique Goals

    There is a movement within the world of financing that is taking off strongly. Instead of despair, consumers are more empowered than ever before. They know that they aren t going to have to be bullied or pressured. They have a wealth of options, and they are now taking steps to make sure that everything runs smoothly. They want to make sure that they get the loan they need, without dealing with the runaround. Confidentiality is also a very important note as well, for obvious reasons: when you need a loan, chances are good that you don t want everyone to know about it. You deserve as much privacy as possible, which is why the rise of the Internet is so awesome. Short term loans are easy to apply for online, and you get convenience and confidentiality at the same time.

    Will you have what it takes to apply? Well, if you re the average person with a steady job that just needs a little help, you re exactly who a lender wants to help. Everyone gets a little behind sometimes, and they need quick financing to get themselves on their feet. If you re already working and you know that you ll be able to make the payments over a set length of time, then you already have the key to moving forward.

    Good loans don t take time, the way the bank might lead you to believe. You could be fully funded 24 hours after a successful application, or even sooner than that. There is a big network of lenders online that are disrupting the industry and giving consumers what they wanted from the beginning: good short term loans that get them exactly what they need, without burdening them forever and ever. Once you get the money, you don t have any set rules. You can take the cash and use it for whatever you need to do. Believe it or not, some people even go on holiday with the funds. The key here is that no matter how much you take out, you have to pay it back.

    If you build up a reputation with a lender, you ll have a trusted ally for your financial goals. So if you ever run into a problem again or you just want to get a quick line of cash, they are much more likely to approve you faster since you ve proven trustworthiness through a completed loan.

    Check out these limited time installment loans today. You ll be glad you did!

    Loans Against Your Car

    Logbook loans are becoming a more popular form of borrowing money than ever before. Effectively, this is a secured loan with the value of the loan secured against the value of your car. This allows you to borrow up to tens of thousands of pounds with ease. The borrower retains possession of the car but the logbook is given to the lender until the terms of the loan are met and the repayments are made.

    Secured Loans

    A secured loan gives the lender much greater security over the money that they lend to borrowers. While in many cases, this implies that the loan is secured against the value of a house, it can effectively be secured against virtually any item of value and a car is often the second most valuable item a person owns that includes ownership deeds; in this case, the logbook.

    Logbook Name

    There are certain stipulations that must be met to enjoy access to an online car loan. Primarily, the logbook must be in the name of the borrower and not in somebody else s name. This ensures that people cannot use the logbook belonging to another person s car, take out and default on the loan, and the unwitting car owner loses possession of their car.

    Car Age

    Some companies may also place a stipulation on the age of the car with many only offering loans to those car owners whose vehicles are under 8 or possibly 10 years old. This is because the value of a car quickly depreciates when it reaches a certain age and the car itself may become worthless if it fails an MOT or suffers any major damage or breakdown. Hence, a logbook loan will work best on newer models of vehicles but we urge you to speak with one of helpful consultants to find out further details in this regard.

    No Credit Check Logbook Loans

    One of the greatest benefits of an online car loan is that it does not typically require a credit check. This allows people with virtually any credit history, whether it s good or even non-existent, to borrow a reasonable sum of money without even having to worry about the indignity of a failed credit check. A regular income ensures you can make the agreed repayments and the logbook of your car means that the loan will be secured against a tangible asset.



    What is a Home Equity Loan? Nationwide #loans #canada


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    What Is Home Equity?

    At Nationwide Bank ®. we understand home borrowing options can be overwhelming at times. You may have questions like “What is home equity?” or “What is a home equity loan?”

    By understanding the basics of home equity, you will be better prepared to make smart decisions about your financial future. Your home’s equity can help you access additional funds without tapping into your savings and other investments.

    Definition of home equity

    Equity is typically defined as the difference between the appraised value of your home and how much of your mortgage you have left to pay off.

    To understand the definition of home equity, consider this example:

    • The appraised value of your home is $150,000.
    • You’ve paid $20,000 on your home.
    • The balance owed on your mortgage is $130,000.
    • Therefore, the appraised value ($150,000) minus the balance owed ($130,000) equals the amount of equity ($20,000).

    Over time, the value of your home may increase, which could change your equity amount. If you have made home improvements or your neighborhood schools improve, the value of your real estate may improve. When that happens, your home could be appraised at a higher amount than what it was originally purchased for, which increases your equity. If that happens, you can use the same equity calculation – appraised value minus the amount you owe – to estimate your available equity amount.

    Common home equity terms and definitions

    Here are some more terms and definitions that can help you understand home equity.

    The life of an equity loan is the time limit established by your lender that you have to use and repay your loan.

    The repayment period begins once the draw period for your home equity line of credit has expired, or once funds have been disbursed for your home equity loan. During this time, you must make your scheduled payments on your balance.

    If you default on your payments, your lender reserves the right to collect on your collateral – in this case, your home. This is an important consideration to keep in mind when choosing your financing options.

    Tap into your home’s equity

    Now that you have the answer to the question “What is a home equity loan?”, start your home equity loan or a home equity line of credit application and get the flexible options and attractive rates you deserve.



    What is a car loan? #debt #relief


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    What is a car loan?

    A car loan is a personal loan that allows the potential buyer to pay the vehicle off in monthly payments instead of having to pay the full price all at once. This means that a lending servicer or bank will pay off the car in full, while in return the borrower pays off the debt in monthly payments with an interest fee included as well.

    This type of personal loan may be either a secured or non-secured loan depending on the situation they are in. But for the most part lenders will usually offer a loan that is secured just in case the borrower falls behind on their payments and fails to pay off the debt. If the borrower fails to pay the monthly payments, their lender will repossess the car to pay off the debt. To qualify for an unsecured loan the borrower must have a very high credit score and also issue a higher interest rate on the loan as well.

    Most of the time lenders will be very quick to offer a secured loan even with bad credit, because of the fact that the vehicle is used as collateral if the borrower fails to pay. People with a very low credit rating may be able to take advantage of this loan by paying all the monthly payments on time. By doing this they will be able to begin restoring their credit score.

    If you are deciding whether or not to get a car loan, it is wise for you to first calculate your income and expenses. You do not want to get a new loan if it does not fit into your monthly budget, you are just acquiring even more debt than you already have. Also it is important think about all of the additional fees that will come along with the vehicle such as gas, maintenance, taxes, and registration. If possible, you should put down a higher down payment than required because this will help lower your interest rate and monthly payment altogether.

    Remember, it is very important that you always make your monthly payments if you get a car loan. If you fail to make these payments the bank may be able to come after you and repossess your vehicle, leaving you with no way to get around. Even with unsecured loans the bank will come after the borrower, usually by suing them for the remaining debt. Also any missed payments will be reported to the credit bureaus and the borrower will notice their score begin to drop.



    What is a Collateral Loan? (with pictures) – mobile wiseGEEK #payday #loans #for #bad #credit


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    wiseGEEK: What is a Collateral Loan?

    A collateral loan is also called a secured loan. It is a loan obtained from a banking or other financial institution, where in exchange, the creditor may sell that which is offered for collateral if the loan is unpaid. A collateral loan is often offered at a lower interest rate than an unsecured loan. because there is a guarantee of repayment should the borrower default on the loan.

    A collateral loan may use different things to secure the loan. Often people use stocks or bonds to establish this type of loan. They can use their ownership in property, where a portion of perhaps a home, or a piece of land, is set up as collateral. If the borrower defaults, he must sell the property to pay back the loan, and the lender has rights to sell the property also, even if only a portion of the full value belongs to them. In these cases, a lender would sell the home, and give the previous owner the monies not offered on collateral.

    A collateral loan may also be based on expected collateral, like the expected return on a harvested crop, or on an investment. Occasionally, one can use property like high-valued jewelry as collateral, or other high-valued goods. This is rare, as most such loans are based on paper assets, or on real estate.

    If the collateral given decreases in value and the borrower defaults, he or she will still be responsible to repay the amount at which the collateral was previously assessed. For example, a person borrows $100,000 on a home of the same value. If the home decreases in value, say to $75,000, the borrower must still pay back the full amount, as dictated by the terms of the collateral loan. If a borrower has defaulted on the loan, his or her home will be sold. However, the borrower will still owe the lender $25,000. This may require the borrower to sell more possessions or enter bankruptcy .

    In most cases, people will not borrow to the full value of a possession offered as collateral to avoid the circumstances described above. Instead, the collateral loan is usually only a portion of the full value of a possession, or of paper trading like stocks and bonds. People with a number of high value items, properties, or stocks and bonds can of course get larger collateral loans. However, with any loan, it is best to borrow only what one needs, since interest rates will still mean a higher payback than the actual money borrowed.



    What Is a Credit Line? #home #loan #repayment #calculator


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    What is a Credit Line?

    By Justin Pritchard. Banking/Loans Expert

    Justin Pritchard helps consumers navigate the world of banking.

    A credit line is a pool of available money that you can borrow from. It s like an account with money in it, and you can spend that money if you choose to (except you don t really have the money – you re borrowing when you use the money).

    What is a Credit Line?

    A credit line is money available for you to borrow. Instead of borrowing a specific amount of money and paying it back over time, the bank allows you to borrow any amount you need (up to your credit limit ), whenever you need it. You can borrow a little bit today and come back tomorrow for a little bit more. The concept is similar to a credit card.

    Contrast the credit line to a standard loan such as an auto loan. with those loans, you borrow a fixed amount of money all at once (you can t come back for more).

    Then, you start repaying the loan more or less immediately with monthly payments. As you make each payment, a portion of the loan is paid off, and you also pay interest costs (in other words, the loan is amortized over time).

    With a standard loan. you borrow 100% of the amount you ve been approved for. With a credit line, you can borrow 100% of the amount all in one shot, but you don t have to.

    What is a Credit Line Good For?

    Credit lines are nice because they’re flexible. You don’t have to apply for a new loan every time you need money.

    Continue Reading Below

    Instead, you get a credit line that allows you to borrow money as needed.

    If you need $1000 for a repair and you have a credit line, you can just write a check against the credit line. Of course, then you ll start paying interest. so you ll want to repay the loan as soon as possible — but it s nice to have cash available. If it turns out that you never need any money from your credit line, you simply avoid taking out a loan (and you won t have to pay any interest because you never borrowed anything).

    Credit lines are helpful for cash-flow management. They allow you to meet expenses without the hassle of applying for a new loan. They can even be attached to checking accounts to prevent overdraft charges .

    Lines of credit are best used as a safety net – they re probably not the best tool for everyday use or for long-term borrowing. You might have to pay a fee every time you draw on your credit line, and you might find that interest rates are higher than you d pay for more specific loans (like mortgage or auto loans).

    Unfortunately, you can t always depend on your line of credit being there when you need it. Banks typically reserve the right to cancel your credit line or lower your borrowing limit at any time (and they generally don t do that when it s convenient for you). That makes credit lines especially tricky: you want them to be there just in case, but you need to be prepared for the possibility that your bank will pull the plug at a bad time.

    Getting a Line of Credit

    So how do you get a line of credit? You generally have to apply for one, just as you d apply for any other loan. Banks will decide whether or not to offer a credit line (and how much to offer) based on your credit, your income, and any asset that you pledge as collateral .

    It s not uncommon to use your home as collateral for a home equity line of credit. This approach generally gives you access to a large amount of money at a reasonable interest rate (because the bank can take your home in foreclosure and get their money back if you fail to repay).

    If you don t want to (or can t) pledge property as collateral. you can also get unsecured lines of credit. Unfortunately, it s harder to qualify for an unsecured loan because the bank has nothing to go after; you ll need good credit and a steady income to get approved.



    What Is a Conventional Loan for Home Buyers? #federal #perkins #loans


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    What is a Conventional Loan?

    By Elizabeth Weintraub. Home Buying/Selling Expert

    Elizabeth Weintraub has an extensive background in real estate spanning more than 30 years, including experience in related industries such as title and escrow. She is a full-time broker-associate at Lyon Real Estate’s midtown Sacramento office and is recognized as a top producer. She is also a Life Member of the Master’s Club, an honor bestowed by the Sacramento Board of REALTORS , and ranks in the top 1% of all the agents at Lyon Real Estate.

    CA BRE License #00697006

    I advise first-time home buyers to meet with a mortgage broker before deciding on a loan because mortgage brokers carry a vast array of products, including the tired and boring old conventional loans. A bank can make a conventional loan, too, but generally a bank s product line is limited and particular only to that bank. Whereas a mortgage broker can broker loans through any number of banks.

    Continue Reading Below

    Conventional loans gained a reputation of being a safe type of loan, but there are a variety of conventional loans to choose from as well.

    The main difference between a conventional loan and other types of mortgages is the fact a conventional loan is not made by a government entity nor insured by a government entity. It s what we refer to as a non-GSE loan. A non-government sponsored entity.

    Types of government loans are FHA and VA loans. An FHA loan is insured by the government and a VA loan is backed by the government.

    Down payment requirements are different as well. The minimum down payment for an FHA loan is 3.5%. For a VA loan, the minimum down payment is zero.

    Amortized Conventional Loans

    Home buyers can take out an amortized conventional loan from a bank, a savings and loan, a credit union or even through a mortgage broker that funds its own loans or brokers them. Two important factors are the term of the loan and the loan-to-value ratio :

    • 95% LTV with a 30-year term
    • 90% LTV with a 30-year term
    • 85% LTV with a 30-year term

    Continue Reading Below

    • 80% LTV with a 30-year term

    The LTV can be lower than 80%. It can be whatever is comfortable for a borrower. If the LTV is higher than 80%, lenders require that borrowers pay for private mortgage insurance *. The term of the loan can be longer or shorter, depending on the borrower s qualifications. For example, a borrower might qualify for a 40-year term, which would lower the payments. A 20-year term loan would raise the payments. Here are a few examples of how the payments can change depending on the term of the loan:

    • A $200,000 loan at 6% payable over 20 years would result in a payment of $1,432.86 per month.
    • A $200,000 loan at 6% payable over 30 years would result in a payment of $1,199.10 per month.
    • A $200,000 loan at 6% payable over 40 years would result in a payment of $1,100.43 per month.

    A fully amortized conventional loan is a mortgage in which the same principal and interest payment is paid every month, from the beginning of the loan to the end of the loan. The last payment pays off the loan in full. There is no balloon payment .

    Conforming loan limits are $417,000. A minimum FICO score for a good interest rate is higher than those required for an FHA loan. Loan limits above $417,000 are considered jumbo loans and the interest rates are higher.

    *Some conventional loan products allow the lender to pay the private mortgage insurance.

    Adjustable Conventional Loans

    An adjustable-rate conventional loan means the loan is adjustable, it can fluctuate. Some loans are fixed for a certain period of time, and then they turn into adjustable-rate loans. Here are three popular types of adjustable conventional loans:

    • 3 / 1 ARM. This loan is fixed for 3 years, and then it begins to adjust for the remaining 27 years.
    • 5 /1 ARM. This loan is fixed for 5 years, and then it begins to adjust for the remaining 25 years.
    • 7 / 1 ARM. This loan is fixed for 7 years, and then it begins to adjust for the remaining 23 years.

    Features of an Adjustable Conventional Loan

    Many borrowers shy away from an adjustable rate conventional loan and prefer to stick with a traditional amortized loan. For borrowers whose income may go up, an adjustable rate mortgage might be just the ticket to help with the early years of payments.

    • The initial interest rate is lower than the rate for a fixed-rate loan .
    • There is a maximum amount the loan can adjust over the life of the loan known as a cap rate.
    • The interest rate is determined by adding a margin rate to the index rate .
    • Adjustment periods can be monthly, every six months, or every year, among other choices.

    At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.



    What is a Good Payday Loan Company? #loans #for #college


    #payday loan company
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    Curently in the Lead:

    What is a Good Payday Loan Company?

    By: eric. Posted in Loans Borrowing on October 19, 2011 .

    There are a number of internet companies that make promises of a cash loan to almost anyone. What they mean by this is fairly obvious on the surface, in that a borrower can apply for and receive a cash loan from the offering lender. But who are these companies, and what do their offers entail?

    The Cash Loan Company

    A cash loan company is not a bank, but a money-lending agency that offers small loans with no necessary collateral. These companies promise that through their services, you cannot only be easily approved for a short-term loan, usually for sums between $50 and $500, but that you will receive your cash loan quickly. While these facts do stand close inspection, the story behind the cash loan from these types of companies does not end there.

    How A Cash Loan Works

    A cash loan business earns its income through the interest, or fees, that they charge for the loans that they offer. The applicant is normally required to provide certain personal information on their bank accounts as well as their employment, as well as supplying a check for the entire loan with fees included. The borrower agrees to repay the cash loan amount by their next paycheck. This can all sound simple, but there are pitfalls to avoid.

    Don t Fall Into The Cash Loan Trap

    As mentioned, cash loan companies earn their money off of high interest rates. Often these interest rates are called fees, but no matter what they are called, it means more money that you have to pay on a cash loan. While a cash loan can help with current financial problems, if mismanaged, these loans can make things far worse in the long-term.

    At least two things to know when looking into a cash loan:

    1. Before you apply for a cash loan, read everything that you can on the internet loan company. Ask questions, and make sure that you receive the information that you need. Make certain that you have a financial plan for repaying your cash loan. Don t borrow more than you need, or more than you can repay with one paycheck.
    2. While a cash loan could help you today, don t forget that the key to financial solvency is long-term financial planning, and avoiding unnecessary debt.

    Do I Qualify For a Cash Advance?

    Qualifications for a cash advance are pretty basic. A cash advance, in nature is designed to provide short-term financing for the borrower. A cash advance gives the borrower the opportunity to receive cash now and pay later. The repayment for a cash advance is set up on the borrower s next paycheck. It s comforting to know that any time you need extra money until payday a cash advance is available to assist you with your financial needs. How many times in your life have you wished that payday could come a little faster because of your demanding bills? How many times do you wish your due date on your bills would match your paycheck date? Many times a cash advance is used for exactly this situation.

    To qualify for a cash advance there are some requirements the borrower must meet. There are no credit checks performed on a cash advance so if you have good or bad credit, it will not affect the lenders decision. Your lender will not use a credit check, but will use the information retrieved from other reporting agencies like SCAN or Teletrack. Additionally, no fax is required for a cash advance so you can avoid paperwork.

    Lenders do require that the borrower be at least 18 years of age and can provide identification to support that. You must also have a working history of at least six months at your previous employer to qualify for a cash advance. Lenders will require the borrower has a checking or savings account in good standing so they can transfer and withdrawal funds. Other general information such as your name, a contact number, driver s license number, and proof of residency is required on the loan application.

    It is very simple to qualify for a cash advance. Now, every time you find yourself in a financial situation that cannot wait until your next payday you can get a cash advance to solve your financial demands.

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    What are low-doc loans? #business #loan #interest #rates


    #low doc home loans
    #

    What are low-doc loans?

    Low-documentation or low-doc loans are for people – generally the self-employed – who have difficulty getting the documentation together that is required to get a traditional home loan. Low-doc loans differ from another relatively new loan in the marketplace that is also gaining popularity – non-conforming loans (See article: What is a non-conforming loan?) Low-doc loans have become very popular over the past few years and industry figures state they comprise around 10 per cent of all mortgage loans written. Traditionally, the interest rate offered on these types of loans was higher than for the standard variable rate but recently they tend to be offered at similar rates. While lenders have various methods of establishing whether they will lend someone money, there are some major differences between mainstream and low-doc loans. Differences between standard and low-doc loans

    • low-doc loans do not require traditional proof of income such as company financials or tax returns
    • borrowers seeking a low-doc loan generally complete a declaration that confirms they can afford the loan. This is known as self-certification.
    • Low-doc loans tend to be more attractive to self-employed people or full-time investors who may have difficulty showing a high level of income, as a result of either writing off a number of expenses, reinvesting profits into a business, or being slow in lodging their tax returns.

    Borrowing tips Borrowers wishing to obtain a low-doc loan will normally need to satisfy three requirements:

    • self-certify their income;
    • confirm their self-employment status (if appropriate) – usually with a registered ABN or accountant’s letter; and
    • have a clean credit history and good repayment record for existing or previous loans.

    Published: 10 October 2006



    What are the Average Sub Prime Car Loan Interest Rates #military #loans #no #credit #check


    #car loan interest rates
    #

    What Are the Interest Rates for Sub Prime Car Loans?

    Lower Rates with Non-Prime Credit

    The car buying process has gone through a great change for people who need bad credit auto loans as financial lenders and dealers have become more relaxed. Experian reports that the percentage of consumers purchasing vehicles with non-prime credit scores actually increased last year by nearly 13-percent for new car buyers, and close to 6-percent for those purchasing used vehicles.

    A big reason for this uptake in the number of auto loans with sub-prime credit is attribuited to the reduced interest rates and increase of funds offered. Normally, the average percentage of a 60-month loan with nonprime credit would be 4.52% for a new vehicle, but now a person can possibly recieve 4.32% for a lender. Borrowers for pre-owned cars have the chance to qualify for a sub prime loan with rates near 8.48%, which is lowered from it’s previous 8.6% from the prior years.

    Larger Loans with Sub Prime Rates

    As great as it may be to have a reduced interest rate, it is even better when your loan amount rises in spite of a low credit score. In today’s economy a buyer with a below prime credit rating can possibly recieve as much as $26,000 for a new car or close $17,000 for a used vehicle. Of course this is all dependant on on’s current credit score, the type financing dealer, and whether person is looking for a no money down subprime car loan. which can adjust a person’s rates.

    So if you’re in the market for sub prime auto financing and want to receive a better rate AutoNetFinancial.com is the ideal website to use. Our network of financing specialist and local sub prime lenders are fully capable of helping anyone aquire a more affordable loan with great ease. Simply fill out our online application. and you can be on your way towards owning the perfect car at the right price.

    Here at AutoNet Financial we help people that earn over $1,500 per month, regardless of how long they have been on the job finance the best cars in their area. We also offer helpful advice on local loan companies, credit repair, and sub prime auto financing so that you can get a vehicle loan today.