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Home Equity Loan Massachusetts: Find Home Equity Loan Rates in MA #new #car #loan


#best home loan rates
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Home Equity Loan in Massachusetts

Apply for a Massachusetts home equity line of credit or loan

Whether you make your home near the sandy beaches of Cape Cod, in the wooded mountains of the Berkshires or in the cultural center of Boston, Massachusetts has something for everyone. These wonderful locations and many more throughout the state make Massachusetts a great place to live. You can improve your home even more with a home equity loan in Massachusetts.

You can access the equity in your house with a competitive home equity loan rate in MA brought to you by Citizens Bank. With the funds you get from this loan, you can pay for major expenses and meet other financial obligations:

  • Pay for large medical or tuition bills with a Massachusetts home equity line of credit.
  • Use a Massachusetts home equity loan to replace your driveway, remodel the master suite or replace the roof.

As a Boston bank, our home equity loan rates are attractive and can help you finance some of the bigger expenses in life. If you need to renovate your Boston brownstone, buy a new car for your weekend drives through Cambridge, or finance your child’s education, you can do that with a Massachusetts home equity loan.

Start your home equity loan application in Massachusetts

When you’re ready to apply, start the home equity loan application process online by answering a few questions about your borrowing needs, and we’ll contact you by the end of the next business day to complete your application and walk you through the next steps in the process. You can also learn more about our home equity products.

Check out our other Massachusetts products:



Home Equity Loans – Learn, compare offers for Home Equity Loans #investment #property #loans


#home equity loan
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Home Equity Loans

Many parents of college students are utilizing home equity loans as part of their financial aid packages. It is important to review multiple lenders before applying. Consider all of your options. A one stop shop just might just be your local Credit Union. Close your new loan on time with fewer worries when you “think local,” so consider borrowing from your local bank or credit union in our Credit Unions Database .

Life and Money

All these years you may have successfully maintained sufficient finances for the house you own, the bills and your daily expenses, but as you look ahead, it may not seem to be enough. The economy is bad. The kids are coming and, sooner than you think, college tuition expenses could leave you feeling overwhelmed. You can start searching for available financing that can ease the burden. You may not know it now, but your house may be able to help you with college expenses. Insight and solutions to your upcoming finance issue could be dealt with simply by visiting this site, Home Equity Loans.

Spending for Financial Assistance

While you spend money, you open up opportunities to gain money. This is the essence of Home Equity Loans, to allow you to get money for your finances through your mortgage payments. Your home is yours as long as you pay its mortgage. It is your investment, your asset. It is an asset that you can use to extract money. Your home’s value increases as the mortgage period progresses. As you regularly pay your mortgage, you are able to pay off the actual property value of your house. NOTE: Research Property Values . The remaining payments on your mortgage are likely to be the interest that accrued on the home loan which you will pay regularly scheduled payments. This is your home equity. This can allow you to take out a loan or line of credit on the money you will spend for your mortgage in the future. While you’re spending to keep your house, Home Equity Loans will give you the financial assistance to help you maintain your house’s health, your body’s health or possibly your child’s college tuition.

Learning More about a home equity loan

Here at Home Equity Loans, you can learn more about the different types of Home Equity Loans, what you can get out of them and how you can get them. Our Home Equity Loan Calculator can help you to map out the finances that you can get out of your home. You’ll find information on what to watch out for and things to prepare for in the loan application. Find out what qualifications are required for an application before heading out to a lender. read Kathy Sweedler’s Article to see if an equity loan is right for you.

Blogging on Home Equity Loans



Home Equity Loans #interest #only #loans


#home equity loan calculator
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Home Equity Loans

A home equity loan is based on the amount of equity in your home. It has a fixed rate and term, usually between 5 to 30 years¹. If you have a one-time need for cash and prefer the security of a fixed rate, a home equity loan may be for you.

Home Equity Loan Features and Benefits

  • Standard and High Value Home Equity Loan options offered, with  borrowing limit based on your home’s appraised value
  • Manage your home equity loan through Online Banking
  • Transfer funds online from another KeyBank account to make payments to your home equity loan 
  • Interest paid on home equity loans may be tax-deductible 2
  • Earn 25,000 KeyBank Relationship Rewards ®  points for opening a new Home Equity Loan † and expanding your relationship with KeyBank.

High Value Home Equity Loan

85%-100% Loan to Value *

To apply for one of our home equity loans, you must be:

  • 18 years of age or older
  • * For Home Equity Loan: live within the following states: AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT, or WA
  • * For Home Equity Line of Credit: live within any one of the United States except the following: AL, AZ, CA, DC, NV, TX. For subject properties outside of AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT or WA call 1-800-KEY2YOU (1-800-539-2968) for product information or to submit an application
  • Agree to provide additional personal and business information, if requested, such as tax returns and financial statements
  • Certify that all information submitted in the application is true and correct
  • Authorize the bank and or a credit bureau to investigate the information on the application

Please read our Disclosures. If you applied for your credit account online within the last 90 days, you may also review the original disclosures provided to you.

1 Subject to credit approval. The APRs listed in the “Get Rates” links above include a $125.00 origination fee and assumes use of the bank’s optional automatic payment deduction plan from a KeyBank checking or savings account. Add 0.25% to stated rates when an automatic deduction plan is not established from a KeyBank checking or savings account. Normal checking or savings account service charges apply. Please refer to specific checking or savings account disclosures for details. Closing cost waiver applies on loan applications of $250,000.00 or less ($250,000.00 or less in NY and FL). Loans above $250,000.00 pay title insurance premium from $12.50 – $2,859.00. NY and FL loans above $250,000.00 pay mortgage tax and doc stamps. Typical loan payment examples are as follows: If you borrow $10,000 secured by an owner occupied home, for 60 months at 5.90% APR, the monthly payment would be $192.89 or if you borrow $10,000 secured by a non-owner occupied home, for 60 months at 7.91% APR, the monthly payment would be $202.36.  Actual rates, APRs, fees, payment amounts and terms are based on loan to value (LTV), product, term, loan amount and credit qualifications. Rates are subject to change without notice and are determined from those offered as of the date of application.

2 Consult your tax advisor regarding the deductibility of interest.

* Loan to value ratios apply only to loans secured by owner occupied real estate.

Subject to credit approval.

KeyBank is Member FDIC.

† Your checking account must be enrolled in KeyBank Relationship Rewards prior to account opening to qualify for points.

There may be an annual fee for the KeyBank Relationship Rewards program based on the type of checking account you have. Point values earned for Activities, Bonus Activities and for opening, signing up for or being approved for a Relationship Product are subject to change. There is a monthly cap of 1,500 points for Activity Point categories.



Home – Mortgage Insider #money #loans


#mortgage loan
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Home

Welcome To The Mortgage Insider Website!

Mortgage shopping is difficult and confusing to say the least. Being out gunned on the confusing topics of the mortgage industry, the American mortgage consumer is left without an appropriate mortgage shopping method. And sadly, many Americans are just now finding out their lack of any prudent mortgage system is responsible for putting them into a needless foreclosure, or pushed them into a mortgage decision that comes back to haunt them.

I always say when it comes to this huge gap in mortgage industry knowledge: “You do not know what you do not know!”

Well, let me make sure YOU do not suffer the same fate as many others. NO EXCUSES! All the advice you need to become an savvy Mortgage Consumer is Right Here!

You probably have no idea where to start. Let me help you.

First, you are getting mortgage advice from an expert inside the mortgage world. My name is The Mortgage Insider Ewing and I have 10 years in the industry. I am the only author and write all the articles here so you can be sure you’re getting the truth about mortgages from a professional in the trenches.

Isn t that what a website is supposed to be for?

To provide high quality content from folks in the know who can steer you away from all the traps, tricks, and scams waiting for you in an industry known for taking folks to the cleaners. I m sure after you read just one article, you ll know that s exactly what you get here.

So let s get started! Below you find all the Categories of articles on this site click around.

You can t help but learn something here! This way after reading our website you ll be fully armed when it comes to shopping, negotiating, and closing your next home loan and you ll do it with a lot less hassle and expense.

Definitions of Mortgage Terms

At any time you do not understand a term, check out our Mortgage Definitions for a definition and usage inside the industry. It’s also just a great place to start learning!

Mortgage Calculators

After learning about mortgage terms, check out our free online Mortgage Calculators. We provide a Total Monthly Payment Amortization Schedule Calculator, debt consolidation calculator, a home equity loan calculator, a bi-weekly payment calculator, early payoff calculator, and a standard mortgage payment calculator.

Next, you can start perusing some of our insider mortgage advice articles by topic and just work your way through them. Or if you have a mortgage question in need of an answer, use our Mortgage Question and Answer section.

Mortgage Articles

Mortgages will hold mortgage articles on different loan programs including reverse mortgages and their pros and cons.

Foreclosure Articles

Foreclosure has articles on the foreclosure crisis and advice on how to avoid foreclosure. Articles in this topic combined with my Mortgage Servicing Reviews is a great resource for those who are currently looking for advice on foreclosure issues including loan modifications .

Mortgage News Articles

Breaking Mortgage News will keep you abreast of breaking mortgage news stories such as new laws, the mortgage crisis, misleading advertisements, and the recent Federal Reserve rate moves, anything that can help you make better choices.

Bank Articles

Banks and banking news is held in this topic area. We discuss bank failures, bank bailouts, and all the other import happens with banks as understand banks is an integral part of understand the mortgage business.

Fannie Mae and Freddie Mac Articles

In our “Fannie Freddie ” topic you will find many articles on the happenings inside the two GSEs responsible for prime credit mortgage securitization called Fannie Mae and Freddie Mac.

Treasury Department Articles

The Treasury Department Topic holds all of our articles on the moves of the Treasury Department which in today’s bailout world are many.

Federal Reserve Articles

The Federal Reserve Topic has articles on the activities of the Fed, it’s Chairman, and the FOMC as it pertains to the mortgage market and mortgage rates.

Mortgage Reviews

Mortgage Reviews holds mortgage company reviews, rankings, and ratings. Both mortgage lender and servicing companies are reviewed and included contact information since many folks need to contact theses companies for a new loan or to work out loan modifications. Also you can check out our Top Five section as well.

Mortgage Rate Articles

Mortgage Rates contains mortgage articles and mortgage advice on rates and how they are quoted (often falsely) and inappropriately disclosed when purchasing or mortgage refinancing .

Home Equity Loan Articles

Equity Loans includes mortgage advice on what is involved with tapping your equity through home equity loans or second mortgages.

Mortgage Fraud Articles

Mortgage fraud is being committed at much higher rates and borrowers are tricked into participating in mortgage fraud. We are hear to make sure you are not one of them.

Credit Articles

You can also learn about mortgage credit and mortgage insurance. And how to maximize your credit and save money on insurance costs.

Tutorial Articles

You can also learn about a number of mortgage shopping skills in my Tutorials area. Articles in the category are in-depth how to based articles.

Housing Articles

Get all this “inside” mortgage advice and information on what really happens behind the scenes not only in the mortgage market but also in the housing market too. All Free!

Mortgage Insider Answers Service

Lastly, if you can not find an answer to a question you have, check out the Ask a Question on the top menu bar to learn about the service and find Answers in different Topics like, Foreclosure. Mortgages. and Real Estate .

I have been answering reader questions for months now and doling out advice there. If you still can not find an answer, use our form at the top of the pages to Ask a Question! and you will have your answer in 24-48 hours.

Our Free Quote Service

Get 4 quotes (and only 4) from the nations best mortgage providers using our free, secure, quote service.

You pick the best offer!

Thanks again for visiting our site.



Home Affordable Refinance Program (HARP): Fannie Mae #monthly #mortgage #calculator


#harp loan program
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Home Affordable Refinance Program (HARP)

The government’s Home Affordable Refinance Program (HARP) has been expanded to help more homeowners qualify for refinancing their mortgage. Even those with little or no equity available may take advantage of low interest rates, and other refinancing benefits.

“Whether you’re looking to refinance a property you live in, or an investment property, find out if you qualify for this amazing program.”

What is HARP?

HARP is unique—it’s the only refinance program that enables eligible borrowers with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits. There have been several changes to HARP, but the primary enhancement removed the limit on the amount that homeowners could be “underwater” (owe more on their mortgage than their home is worth). With that change, many homeowners who were not eligible will now qualify. Program ends December 31, 2016.

HARP may be an option if:

  • You have had a good payment history for the past 12 months. That means having no late payments in the last 6 months and no more than one 30-day late payment from 6 to 12 months ago.
  • Your home is your primary residence, 2nd home or investment property.
  • Your home value has decreased.
  • You have limited equity or your first mortgage exceeds the current market value of the home (i.e. your loan-to-value ratio must be 80% to be eligible).
  • Your loan is owned or guaranteed by Fannie Mae or Freddie Mac. Check the Fannie Mae Loan Lookup tool.
  • Your loan was closed on or before May 31, 2009 (this date can be found using the loan lookup results).

Take the HARP Quiz to see if you may qualify. For more information about HARP eligibility and requirements, go to HARP.gov or visit the Fannie Mae Loan Lookup tool.

Top reasons to refinance with HARP

  • Lower your monthly payment
  • Reduce your interest rate
  • Get a fixed-rate mortgage that won’t change over time
  • Build equity faster—shorter term options may be available
  • Save time and money with usually no appraisal required

Next steps

Gather your financial information —Make sure you have your basic financial and loan information on hand when you call your mortgage company. You’ll need:

  • your mortgage statements, including information on a second mortgage (if applicable);
  • your other monthly debt payments (e.g. car or student loans, credit card payments); and
  • your income details (paystubs and income tax returns).

It’s important to act quickly. As soon as you think you may have trouble making your mortgage payments or you think you want to refinance, contact your mortgage company to see if you are eligible for this option. If you need further assistance (before or after contacting your mortgage company), contact a Housing Counselor. Homeowners with a Fannie Mae-owned loan should contact one of our Fannie Mae Mortgage Help Network partners. English and Spanish advisors are available, and all services offered by the Fannie Mae Mortgage Help Network are FREE.

Frequently asked questions about the Home Affordable Refinance Program (HARP)

HARP is the Refinancing Solution You Need

1. What is HARP?

HARP stands for the Home Affordable Refinance Program. It was introduced by the Federal Housing Finance Agency (FHFA) and the Department of the Treasury in early 2009 as part of the federal government’s Making Home Affordable™ program. HARP provides eligible homeowners, who may not otherwise qualify for refinancing because of declining home values, the ability to refinance their mortgage into a lower interest rate and/or more stable mortgage product. The program was enhanced in 2011 to allow more eligible homeowners to refinance.

2. What does it mean to “refinance” my mortgage?

3. What enhancements were made to HARP that may make me eligible now?

4. What if I have an adjustable-rate mortgage (ARM)?

5. Is HARP the only refinance program available?

6. How can I find out whether my loan is owned by Fannie Mae or Freddie Mac?

7. How does the HARP refinance process work?



Guarantor loans #short #loans


#bad credit loans no guarantor
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What is guarantor and non guarantor loan?

Guarantor loans:

Guarantor loan is easy and the best way to get an instant loan if you refused due to bad credit history.

To get guarantor loans you need a guarantor who can repay your loan and other charges if you fail to repay that on agreed time frame. With guarantor loans you and your guarantor both are equally responsible to repay loan. Guarantor can be your friend, spouse or any family member. Guarantor could be either home owner or tenant/ non-homeowner.

Benefits of Guarantor loans:

    Guarantor loans up to �50000 Bad credit loans Loans without credit check No Hidden fees or charges Guaranteed loans with in criteria Employed and self employed accepted Higher approval rate as compared to no guarantor loans. You must be 18 years up to 68 years. Must be UK residents.

Any Purpose no guarantor loans:



Here s how banks calculate home loan eligibility. #mortgage #interest #rates


#home loan eligibility
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Here’s how banks calculate home loan eligibility

Updated on: July 15, 2011

T his article is aimed at clearing doubts over how a bank calculates your net income while calculating the eligibility for total home loan amount. Normally, all banks provide home loans up to 60 times your monthly net income.

  • You have a monthly in-hand (take home) salary as Rs 50,000 and you are looking for a home loan of about Rs 30 lakh.
  • Your gross monthly income might be much more than Rs 50,000 per month but that does not matter while calculating the net income.
  • You don’t have any other loan like car or personal loan on your name.
  • Bank rules say that you are eligible to get 60 times your monthly net income as loan.

Well, all sounds good till the time you are talking to your bank executive or an agent over phone for your eligibility. They ask you for your net income, you answer Rs 50,000 per month and they immediately say that you are eligible for a loan that is 60 times your monthly net income, that is, Rs 30 lakh. You are excited that everything is going as per your expectations and think you will get the amount you were looking for.

Click NEXT for more



Historical Mortgage Rates by Month – 1986 to 2015 #bad #credit #business #loans


#home loan interest rate
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HSH’s National Monthly Mortgage Statistics: 1986 to 2015

5/1 ARM

As the nation’s largest publisher of mortgage information, HSH Associates surveys mortgage lenders coast to coast every week. The statistics shown here include both conforming and jumbo mortgages to give a true picture of the overall mortgage market. HSH markets jumbo-only and conforming-only statistics — find out how to order.

Averages shown reflect the interest rate. Points and fees are not included in this series; they are available in different statistical series. Weekly companion averages for this series can be seen in our Statistical Release. HSH can supply detailed statistical series with rates, points, effective rates, averages of other fields, calculated APRs, and more. Our mortgage rate histories go back over 20 years — the most complete and comprehensive archive available.

HSH.COM is the nation’s largest publisher of mortgage information. HSH provides reports for our clients, including lenders, consumers, the media, relocation companies, employee placement firms, and others from its weekly survey of retail lenders coast to coast.

These statistics are copyright 2015 by HSH Associates, Financial Publishers. They may be copied and distributed provided you credit us as Source: HSH.COM

About HSH Data

Unlike other sources, these statistics derive from our objective, editorial survey of between 2,000 and 3,000 lenders in all 50 states and elsewhere. We’ve been doing this for 30 years–we know what we’re doing, and we just keep doing it, every week. Would you like to know more? HSH’s statistics have long been used by top Wall Street firms; by lenders coast to coast; by the media; by government agencies; by Freddie Mac and Fannie Mae; and many others.

You may display the HSH rates data on your websites, provided that you (a) display the data as-is and without any modifications, (b) attribute the data to HSH.com as the source, and (c) include a live link to HSH.com. We reserve the right to require you to remove the data and link at any time in the event that we determine that your use damages or may damage our reputation.



Home Construction Loans #online #loans #for #bad #credit


#home construction loans
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3 Construction loans available through Lending Universe include:

  • CONSTRUCTION LOANS are not easy to procure as traditional mortgages. The terms, rates and fees may differ widely. A Construction Loan is generally a short-term and interest only loan. Such a HOME CONSTRUCTION LOAN is usually replaced by a regular mortgage on completion of construction.
  • NEW HOME CONSTRUCTION LOANS

The greatest advantage with this type of Construction Loan is that application and processing fees are reduced.

  • CONSTRUCTION-TO-PERMANENT LOANS
    In this case, the lender automatically modifies the Construction Loan into a mortgage after construction is complete. The borrower deals with just one lender, fills out one loan application, and pays only one set of closing costs. But the borrower also agrees to the mortgage rate and terms before construction is complete. There’s no chance to shop around for a new lender after the house is finished.
  • COMMERCIAL CONSTRUCTION LOANS
    A loan given to a business for the purpose of constructing a building or improving existing real estate already owned by the company. Commercial Construction Loans are very large and long term loans that are difficult to obtain. In just minutes, we can provide you with a matched list of funding sources.
  • CONSTRUCTION LAND LOANS
    A Construction Loan finances the land, land improvements (such as clearing, grading, utilities, driveway, etc.), actual construction costs, finishes in the home (such as carpeting, appliances, etc.), architects and engineer’s fees, permit fees, interest payments on the Construction Loan while the home is under construction (so you don’t have to make payments on your present home plus the home under construction if you do not wish to) and closing costs on the transaction.
  • BUSINESS CONSTRUCTION LOANS
    Construction Loans for a business are a little harder to obtain than RESIDENTIAL CONSTRUCTION LOANS. Certain banks prefer specific types of property for lending money, and the terms for Construction Loans are generally much shorter than with a mortgage.In addition, BUSINESS CONSTRUCTION LOANS take much more into consideration than just credit history – factors such as the industry of your company, how profitable it is, how long you’ve owned the company, and your experience with business or entrepreneurship will be some of the deciding factors as well. On the other hand You can find Private Investor for your Construction Loan who will have much easier terms for your loan request.
  • BAD CREDIT HOME CONSTRUCTION LOANS are specifically designed loans for people whose credit history has been damaged. These loans allow people with poor financial backgrounds the opportunity to build a dream house.
  • CONSTRUCTION HARD MONEY LOANS
    Creative lending solutions are needed for borrower’s who have low credit scores, low income, no cash flow or are in need of a quick closing! Hard Money Loan can finance single family residence – RESIDENTIAL CONSTRUCTION LOAN, unimproved & improved property of all types – HARD MONEY CONSTRUCTION LOANS including land purchases, developer lots or raw land.
  • OWNER BUILDER CONSTRUCTION LOANS
    Here at Lending Universe we offer Construction Loans for the owner builder. This programs programs include, conventional, kit or log home construction financing, and allow you to self build your home, it gives you the easiest, most flexible Construction Loan available that will help you save money as you build your new home. Whether you are building a home for you, for investment, or for rental or resale our Construction Loan program is designed to make your building project easier.
  • VA CONSTRUCTION LOANS
    Since VA loans require no down payment and have a high loan to value, banks or lending institutions are not willing to approve interim home Construction Loans directly to veterans. At Lending Universe, we have created an effective way for veteran homebuyers to be able to construct their dream house.
  • FHA CONSTRUCTION LOANS

    If you have construction or remodeling in mind then consider a FHA Construction Loan. FHA loans can be used for construction financing, refinancing, modernization, remodeling, equipment, expansion, etc.

  • Any credit, any income.

    Our lenders accept requests for many loans of other property types



    HARP Program #apply #for #loan


    #harp loan program
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    Home Affordable Refinance Program (HARP)

    Refinance Your Home Under the HARP Program

    If you want to refinance, but may not qualify for a traditional refinancing loan due to the current value of your home, then the Home Affordable Refinance Program, or HARP, could be an appropriate option for you.

    The HARP program is a federally funded program designed to help homeowners in need. With the extension of the program through the end of 2015, eligible homeowners now have additional time to apply for a refinance.

    Benefits of the HARP Refinance Program

    Refinancing your mortgage through the HARP program can provide positive benefits that may help you stabilize your financial situation. The benefits can include:

    • Changing your adjustable-rate mortgage to a fixed-rate mortgage
    • Reducing your interest rate
    • Reducing the amount of time you are paying on your home
    • Paying less on a monthly basis

    The exact benefits will depend on your finances and goals, but a HARP refinance may change your current mortgage to something that is more appropriate for your needs.

    HARP Eligibility Guidelines

    The Home Affordable Refinance Program has eligibility guidelines that determine whether you qualify for a refinance loan.

    • You must be current on your existing mortgage payments and have a good payment history over the last 12 months, with no late payments in the last 6 months
    • Your current mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac
    • The HARP refinance must provide clear benefit to you as the borrower – for example, by obtaining a lower interest rate, locking in a fixed-rate loan or reducing the term of the loan
    • You must have enough income to cover the monthly payments

    Your new loan amount must be at least 81 percent of the current value of your home

    How to Apply for a HARP Mortgage Loan

    When you are ready to apply for a HARP mortgage, getting documentation together before starting the application process will save time. The appropriate documentation will include:

    • Your pay stubs for the last three to six months
    • Your tax returns for the last two to three years
    • Your most recent bank statement
    • A hardship letteR written by you that explains your current financial situation

    You can also provide details about your current mortgage, the value of your home and any other debts that you currently owe. All of these considerations work to determine your eligibility for a HARP mortgage loan.

    Interested in learning more? A U.S. Bank mortgage loan originator can answer your questions about the Home Affordable Refinance Program and determine whether you re eligible to apply.



    Heaven s Family – Christian Micro-Loan Fund #bad #credit #loans


    #micro loan
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    Micro-Loan Ministry

    Micro-loans are a proven means of helping the poorest of the world’s poor rise from poverty with dignity.

    Micro-Loan Ministry

    People who start businesses must have some capital to begin, and so most need a business loan. But what if you were so poor that you had zero collateral and no banks would give you a loan? Such is the plight of many of the world’s poor, including millions of honest and hard working followers of Jesus. Banks won’t even lend them $200. Shouldn’t their faith in Jesus, however, and a consistent testimony be enough collateral for fellow believers, like us, to trust them with a $200 loan?

    Dina Zotica Diaz de Arnao is a Peruvian Christian woman who has benefitted with a micro-loan. She already has a small store in the front room of her little house, but her inventory is extremely limited. Along with the small income that her husband earns from scavenging and selling recyclables, they are just scraping by. Dina was overjoyed to receive a one-year loan of $200 that will enable her to significantly expand her inventory. Her pastor, Jose’ Ernesto Castillo Medrano, has faith in her, and he is administrating her loan.

    The other Christian women in Peru who received micro-loans from Heaven’s Family also have small businesses that they are now expanding with our help. When their loans are repaid, the funds will be loaned to other hard-working believers. Micro-loans are a proven means of helping the poorest of the world’s poor rise from poverty with dignity.

    Donations to the Micro-Loan Ministry are used for program expenses related to making small business loans primarily to poor Christians who have a reputation of being hard-working and honest in restricted and impoverished nations. Our micro-bankers who are committed believers of Jesus Christ will occasionally extend loans to non-belivers to support their local ministry outreach. All fundraising and general/management expenses are paid from from the general fund of Heaven’s Family. Our micro-loans are generally administrated by the borrower’s pastor who is paid for administrating the loans by means of the interest earned.



    High Interest Rate on Auto Loan #home #loan #rates


    #interest rate for car loans
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    Advice About High Interest Rate on Auto Loan

    I just bought a car and am getting charged 22.4% interest. What is the highest APR for a 2005 dodge truck in Texas?

    Highlights

    • Caps on auto-loan interest rates are set by the state.
    • Understand whether your loan has a pre-payment penalty before you sign the papers.
    • Consider refinancing your auto loan.

    Without reviewing a copy of the agreement you signed with your lender, I cannot answer most of the questions you pose in your inquiry. However, I will try to provide you with some guidance to assist you in determining the best way to reduce the impact of the high interest rate you are being charged on this loan. The best advice I can offer would be to consult with a consumer rights attorney licensed in Texas who can carefully review your loan agreement and interpret the contract with respect to Texas finance law. A brief consultation with an attorney to review your purchase agreement should not be very expensive; the Texas State Bar Association should be able to provide you with a referral to an attorney in your area who can assist you in this matter.

    In regard to the interest rate being charged on your auto loan (22.4%), I will say that rate is exceptionally high for any auto loan. To my understanding, Texas law generally caps the annual interest rate charged on used vehicles at 27%. Any interest charged above this legal amount is referred to as usury, though the maximum interest rate that can be charged under Texas law varies drastically depending on the amount and type of loan. In addition, there are many exemptions to the Texas usury laws; for example, if the lender is a national banking association, it may be exempt from many state usury laws. Even if your lender is not exempt from the Texas usury laws, the 22.4% rate it is charging you is below the 27% limit set by state law, so your loan is probably within acceptable parameters. However, if you think that the lender misrepresented the interest rate, or if you feel that the interest rate is improper for any other reason, I would encourage you to consult with an attorney to discuss your rights and possible remedies in this situation.

    Whether or not paying down the balance of the loan is a wise choice largely depends on the terms of the loan you signed. Some auto loans contain a prepayment penalty, which requires that you pay all or a portion of the anticipated finance charge if you decide to pay the loan off early. However, many loans do not contain a prepayment penalty, so you will need to carefully review the terms of your loan agreement to determine whether or not your loan contains such a clause. If your loan does not include a prepayment penalty, I would definitely encourage you to pay off the loan as soon as possible so you can reduce the total amount of interest you pay. Even if you find that your loan does have a prepayment penalty, it may still make sense to pay the loan off early if the penalty is only a portion of the total finance charge. What action makes the most financial sense really depends on the terms of your individual loan, so you will need to review the loan and make a decision based on what you find.

    Given the high interest rate you are currently being charged, you may want to consider refinancing your current auto loan to try to obtain a more favorable rate. Many banks will work with consumers to refinance their auto loans, providing them with much better terms than those offered by the original lender. I would encourage you to speak with various banks about the possibility of refinancing your current auto loan, at least to determine if refinancing is an option. Given the current problems in worldwide credit markets, obtaining a new loan may be difficult, especially if your credit history is less than perfect. That said, it never hurts to explore your options; you may find a much more affordable loan is available to you. To learn more about refinancing auto loans, I encourage you to visit the car loan refinance section of our website.

    To read more about auto loans, you should visit the Bills.com Auto Loans page .

    I wish you the best of luck in finding a way to reduce the cost of your current car loan.

    I hope that the information I have provided helps you Find. Learn. Save.



    Have Bad Credit Need Loan #no #credit #auto #loans


    #need a loan with bad credit
    #

    And you have to deliver your citizenship confirmation as this program is provided for people British isles individuals who are being affected by past bad credit user profile these types of this cause, then aren t able to have the approval of the financial loan design. With internet application getting additional relevance, client can readily avail the loan from Have bad credit need loan loan companies in a couple. If you re a initially-time businessman and you need to commence your own personal enterprise you re almost without any doubt should retain a loan from the bank.

    Debt collectors give 30 to 1,000 nowhere As well as the DSS, the consumer.

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    Simple Interest Loan Early Payment Calculator

    If you intend for money boost personal loans, then Have bad credit need loan you most definitely need to manage Have bad credit need loan handful of points, that are compulsory for you personally and needed for loan companies. A lot of people default the car loan payments.



    Graduate Student Loans #auto #title #loan


    #graduate school loans
    #

    Federal Direct Loans

    A Direct Loan is a federally guaranteed loan. Graduate level students are only eligible for Federal Unsubsidized Loans beginning with the 2013-14 Academic Year. An unsubsidized loan is a loan in which the government does not waive the interest and it does accrue while the student is in school. You will have the option to pay this interest or to have it capitalized. The principle loan payments are deferred while a student is enrolled at least half-time and repayment on the loans does not start until 6 months after the student drops below half-time enrollment, graduates or withdraws.

    • A graduate level student may be eligible $20,500 in unsubsidized loans per academic year.
    • The current interest rate on a Direct Unsubsidized Loan is 5.41% with an origination fee of 1.072%

    To qualify for this loan, you must file a FAFSA. The Unsubsidized Loan is a non-need based loan and the majority of students will be eligible for this loan. Once we have reviewed your FAFSA information, this loan will be listed on your award letter.

    To complete the application process as a first time borrower, you will need to complete a Direct Loan Master Promissory Note and complete Direct Loan Entrance Counseling. Visit www.studentloans.gov and sign in to complete the process.

    Federal Direct Grad Plus Loan

    The Federal Grad Plus Loan is a federal loan with a fixed interest rate of 6.41% with an origination fee of 4.2880%. You must file a FAFSA and borrow the maximum amount of loan through the Direct Loan program before you will be eligible for a Grad Plus. This loan is also based on your credit history, so it is possible that you may be required to have a co-borrower.

    Payments on this loan may be deferred while you are in school and enrolled at least half-time in a graduate program (5 hours per semester during Fall and Spring terms and 3 hours during the summer term). Interest does accrue on this loan during the deferment period. There is no grace period for the Grad Plus loan. It will go into repayment as soon as you drop below half-time enrollment, graduate, or withdraw from school.

    • The maximum a student may borrow in this program is your cost of attendance minus other financial aid you have received. If you are unsure of the amount you are eligible for, contact our office for help
    • To apply for a Federal Grad Plus Loan you will need to sign in and complete the PLUS Request Process at www.studentloans.gov.
      • If approved, you will need to complete a Grad PLUS Master Promissory Note AND Grad PLUS Loan Entrance Counseling at www.studentloans.gov
      • The MPN and Entrance Counseling only need to be completed the first time you are applying for the Grad PLUS Loan and it is not necessary to complete in subsequent years. However, you do need to Apply for the Loan each year you wish to receive it.


    Graduate Loans #fast #money #loans


    #graduate loans
    #

    Graduate Loans

    Hood College students enrolled in graduate degree programs or the Teacher Certification program can apply for a Federal Direct Loan to assist with educational expenses.

    How Do I Apply For A Federal Direct Loan?

    How Much Can I Borrow?

    • Your loan eligibility is limited to the cost of attendance (tuition, fees, books and living expenses) less any other financial assistance you are receiving. A student must be enrolled for at least three (3) credits in a given semester. The maximum annual loan eligibility in the Federal Direct Loan Program is as follows:

    The Office of Financial Aid will determine the amount you are eligible to borrow.

    Can I Apply For Maryland State Scholarships?

    • Residents of Maryland may be eligible for the following scholarships:
      • Maryland Developmental Disabilities and Mental Health Workforce Tuition Assistance Program
      • Workforce Shortage Student Assistance Grant Program
      • Senatorial and Delegate Scholarships
    • For information and applications contact our office or the Maryland State Scholarship Administration at (800) 974-1024 or (410) 260-4500 or www.mhec.state.md.us .


    Hard Money: What is it and How do Hard Money Loans Work? #calculate #loan #payment


    #hard money loans
    #

    Hard Money: What Is It and How Do Hard Money Loans Work?

    Most real estate investors hear terms that they don t understand in the beginning. One of these terms, hard money. is little understood, and frequently asked about. Here is a great explanation of hard money.

    What Does Everyone Mean by Hard Money? What is Hard Money

    Hard money lenders (HMLs) are typically private individuals or small groups that lend money (Hard money) based on the property you are buying, and not on your credit score. Usually these loans cost (percentage-wise) much more then an average mortgage. often times up to twice what a regular mortgage does, plus high origination fees.

    Who Needs Hard Money

    Developers and house flippers, amongst others, will use it to fund deals because you can often borrow up to 100% of your purchase price! On the other hand, hard money lenders will frequently require you to back up your loan with real assets. If you know you can buy a property and turn it quickly at huge profit, and you can t get a standard mortgage, it might be one way to go. Some investors use hard money to get into the property, do some quick fixes to raise the property value, then get a new loan (based on the property s new, improved value) from a bank to pay off the hard money lender.

    In Other Words.

    Hard money loans are easily accessed and cut through the red tape. If you can develop a relationship with a LOCAL hard money lender, you can get funds within a couple days, and sometimes with no appraisal or other costs (except for origination fees of course).

    Now different HML s have different requirements and protocol. There is a local HML that only charges 12% interest and 1 point origination if you keep it over a year and 2 more points if you keep it less than a year. He only does 30 year notes, and obviously he wants you to keep it. He has over 1100 notes, so he doesn t want the hassle. He wants his money to stay loaned out. I have also worked with another local HML who doesn t charge any points, but he s extremely fickle and can be hard to work with.

    Now the typical HML will charge somewhere right around the usury rate. In Texas its 18% annual, so most HML s will charge 5% origination and 13% interest on a 1 year note or no points upfront and 18% interest with a shorter call. Now they can get around usuary by shifting their origination fee into a commitment fee (little different protocol), but most HML s don t know this.

    The beauty of HML s is that the loan is normally not based on your credit score (especially with local lenders) or at least not on your credit worthiness (assets and income), you can receive funding within a matter of days (normally about 7-14 days) rather than 30 days+, and you can get a loan on any piece of junk that you find. You also are not normally dealing with a processing team. You deal directly with an individual lender. If he or she says yes, then you have the loan. This is quite advantageous versus going through an entire loan committee process or underwriting process.

    HML s on longer term investments are not a good idea, but for short term flips, rehabs, or for the initial purchase, they can be a very strong tool. I started my investing using HML s, and have made very good money using them. I now use mostly a line of credit from the bank, but it took me several years to work into that. I also now do some local hard money loans to other investors.

    Thanks to Ryan Webber for his explanation in other words (from our forums )

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    Guarantor financial definition of Guarantor #loan #for #business


    #guarantor loans
    #

    Guarantor

    Guarantor

    A party who will guarantee repayment or performance of a covenant .

    Guarantor

    A third party who promises to provide payment on a bond. loan. or other liability in the event of default. While many guarantees apply to debt instruments. they may also be used for day-to-day expenses. For example, a parent may be a guarantor for an adult child and promise to pay rent to a rental agency if the adult child does not do it. Banks often serve as guarantors on behalf of certain clients, but, just as often, private parties serve as guarantors and promise payment on private loans. Guarantors reduce the risk to loans and liabilities, and usually improve the credit agency ratings of bonds.

    Guarantor.

    If lenders are concerned about your income, your credit history, or other risk factors when you apply for a loan, they may require a guarantor, or cosigner.

    The guarantor signs the loan with you and agrees to pay your debt if you default. For example, lenders may fear that your income may not be high enough to meet your payments if you encounter any unexpected financial setbacks.

    Laws governing who may serve as a guarantor vary from state to state. Some states require that your guarantor be a resident of the state where you’re obtaining the loan, while others will accept guarantors from out of state as well.



    Guaranteed Unsecured Personal Loans Loan #perkins #loan


    #instant personal loans
    #

    Are you at the right web site?

    Is this for you?

    Answer these questions.

    1. Are you are looking for an unsecured loan, business loan, education loan, or home loan?

    2. Have you have been turned down in the past?

    3. Do you have bad credit history, or no credit history?

    4. Are you are in a position where you can make your payments on time?

    6. Have you been employed for at least 3 months at your current job?

    7. Even though you have bad credit, are you willing and able to make payments on time?

    8. Are you serious about re-building your credit?

    9. Have you thought clearly about you monthly bills and how much your payments may be? Can you afford it?

    If so, we can help!

    Click Here

    to continue

    If your credit is not too bad or your not sure whether you can be approved by low cost lender, it’s free to apply online click here

    For some it can be tempting. to those who may feel they need not repay, as nothing can be re-possessed or taken from them. Even another bad item on their credit report wouldn’t even make their credit any worse. so it can be tempting, especially when times are tough –



    Guaranteed Payday Loans in 1 Hour #payday #loan #lenders


    #small loans fast
    #

    Guaranteed Payday Loans in 1 Hour

    Are you in need of some quick cash? Then you might want to try getting payday loans in just one hour. That is arguably the fastest way that you can get some cash. Just as long as you meet the requirements of the companies that give them out, then you should get the money that you need. Do not be too worried about the requirements. Statistics show that about more than 80% of those who file an application get approval.

    Requirements for Fast Cash Advance Loans

    Now, you might be wondering about the requirements for borrowing money Some companies might ask for additional info, but normally most legitimate payday lenders would only need the most basic details such as your name and date of birth and most importantly the information such as your employer’s name and your savings account details. Since guaranteed payday loans are based on your employment and the paychec, the information about the employer is crucial. The bank account in turn is needed because that is how the money is going to be transferred.

    Easy Requirements

    When you compare the requirements for a fast short term loan, they are far less demanding than what other financial institutions such as banks expect of you when you are trying to borrow money from them. They would seek all kinds of documentation first. Just getting all the necessary paperwork would eat up a great amount of your time.

    No Credit Check

    Aside from the fact that there is far less information that is going to be needed to apply for guaranteed payday loans in 1 hour, there is also no credit check. You do not have to fax anything or write a check for the amount that you are borrowing along with the fees.

    Fewer Requirements for Faster Processing

    The obvious advantage is that you can expect to get the money much faster with far less trouble than what you would have to go through if you were getting some other financial product. You can apply for your guaranteed payday loans while at home or at work as long as you have access to a computer.

    One Hour Processing

    When you go online and you check out the websites of companies that offer online personal loans, one of the first things that you notice is the claims of how fast they can process your application. It is quite common to see one hour processing time ads. There are some that go on to claim that they can do it even faster than that. You know that it can be fast and instant, but can you trust it to be that fast?

    How to Speed Things up Even Further

    If you would like to get your guaranteed payday loans right away, then the first thing that you need to make sure is that you should provide all of the needed information accurately. If you withhold some details, then that might delay the processing or even end up getting your application denied, though that is something that legit payday lenders rarely do.



    Guaranteed loans no guarantor no broker fees needed instant approval #start #up #business #loans


    #bad credit loans no guarantor
    #

    Loans no guarantor no credit check:

    • Online application and instant approval without any credit check.
    • Highest success rate means guaranteed loans .
    • Online funding for UK citizen.
    • Unsecured loans for any purpose.
    • Very bad credit also accepted.
    • Loan without guarantor .
    • Choose easy repayment schedule.
    • Lowest APR rate.
    • No upfront fees, no broker, no advance instalment
    • People on benefits and self-employed are also accepted

    Unsecured loans will be given for individuals who badly need cash, but do not have any property or asset that could serve as surety or mortgage or use as collateral.

    One may want to pay off his/her debts, refinance one’s loan, one may source house improvement project, or one may even wish to go for a vacation, a personal loan is the best option that can help in such needs.The loan can be taken out for the longer period of time which will help to make your payments smaller.

    Reduce the rate of interest you pay on high-APR store cards, credit cards, loans and overdrafts by switching them all into a lower-APR consolidation loan.



    Guaranteed Loans for People on Benefits #payday #loans


    #payday loans for people on benefits
    #

    Guaranteed Loans for People on Benefits

    If you are living on the DSS benefits, then it is more likely to run short of money because the amount availed in the benefits is not enough to meet all the expenses. But no worries, we are here to help such peoples trying to survive on the benefited amount. This guaranteed loans product is brought by the guaranteedloanshere.co.uk so that all the people can have the aid from us.

    Temporarily physically disabled people are the people who need money in real means because it is hard to meet all the expenses like bill payments, rental payment and the other grocery expenses by the benefited amount only. So people permanently residing in UK. with a minimum age of 18 years, with an active bank account and a job can apply online for the loan and get their money in their account in no time i.e. probably on the same day of application.

    Guaranteed loans for people on benefits falls under the category of the short term loans hence their repayment time should not be stretched too long because it leads to the net loss of the customer.

    People can avail as low as 80 and as high as 1000 with us. As a responsible lender we make our customers aware of pros and cons of the loan products by fixing the meeting with our market experts as per the need of the customers.

    In this scenario, people are facing towards the finance market as it is the only market where everyone is getting helped by someone, hence our customers too. Helping the people is the vision of guaranteedloanshere.co.uk so we are in the market with the open hands. You just need to come to us and apply then your problem is resolved in no time.



    Graduate Loans #secured #loans #for #bad #credit


    #graduate loans
    #

    Graduate Loans

    Most graduate students have two major needs when considering finance options for a college education:

    1. Obtaining manageable monthly payments.
    2. Minimizing the total cost of education.

    To meet both of these goals, we recommend the following:

    • Reduce your need to borrow by paying as much as you can directly to Emerson College or through the Tuition Payment Plan administered by Sallie Mae.
    • Investigate the terms of available loan programs if you decide to borrow.
    • Begin with an equal combination of loan and payment plan options to meet the financed amount. Determine what you can afford. If you can pay more monthly, increase your amount in the Tuition Payment Plan administered by Sallie Mae. If you need smaller monthly payments, increase the amount of the loan(s).

    Types of Loans

    To assist students and their family in obtaining federal loans, Emerson College is switching to the Federal Direct Loan Program beginning in the 2010–2011 academic year. For further information about the Federal Direct Loan Program and what this switch means for you, read our Direct Lending FAQs .



    Graduate Student Loan Information #pay #off #debt


    #graduate school loans
    #

    Student Financial Assistance

    _______________________

    Graduate Student Loan Information

    What is a student loan for a graduate student?

    A student loan is a low-interest loan that a student obtains while enrolled in school. Student loans must be repaid by the borrower, and the repayment period typically begins six months after the student graduates or ceases enrollment. The Department of Student Financial Assistance advises all students to borrow only what is absolutely necessary to pay college expenses.

    Loan limits reflect the gross amount a student is eligible to be awarded. This gross amount is reduced by an origination fee charged by the Department of Education, resulting in the actual net amount received by the student.

    Students may access the National Student Loan Database System (NSLDS) to check their total amount of loans borrowed. A Personal Identification Number (PIN) is required to access such information (this is the same PIN used to submit the FAFSA).

    NEW! Beginning July 1, 2012 Graduate students will only be eligible to receive Unsubsidized Stafford Loans.

    Interest Rate: 6.8%

    “Unsubsidized” means a student is responsible for paying the interest from the time the loan is disbursed. While enrolled in school at least 1/2 time, a student can defer interest payments and capitalize the interest.

    “Capitalization” is the process by which interest is added to the loan balance, increasing the loan’s size and cost. To reduce the cost of borrowing, consider making interest payments while in school.

    What action must a graduate student take to receive a loan?

    Independent graduate students have to complete the Free Application for Federal Student Aid (FAFSA) and meet other eligibility criteria (admittance into an eligible graduate degree program, maintaining Satisfactory Academic Progress. and enrollment of at least half-time).

    The student will be sent an Award Notification to their WKU Email Account (if registered) or to the email account on record with the university/reported on FAFSA (if not registered). The Award Notification will provide the amount of loan eligible to borrow based on the student’s cost of attendance.



    Get Started – Texas Title Loans made easy. #capitec #bank #loans


    #online title loans
    #

    5 Benefits of Title Loans Online

    Fast

    One of the best things about the online title loans offered by TexasTitleLoan.net is how quickly the borrower receives the funds. The entire process can be as quick as the NEXT day!

  • Easy

    Not only is the TexasTitleLoan.net  process fast, but it is extremely user friendly. Our online application will ask simple questions and we also offer a toll free number for you to call if you have issues: 1-800-287-4812 We want your experience to be easy so that you can get the cash you need, when you need it.

  • High Amounts

    Texas title loans amounts are based on the value of your vehicle so everyone’s situation is different. Online title loans can range from $300 to $10,000 dollars depending on your car’s value. In most cases the title loan lender will rely on the Kelly Blue Book value so you can check online to see what your vehicle may be worth before you even fill out a title loan application.

  • Low Interest

    Unlike a payday loan, car title loans are given to the borrower by using their title as collateral. Because of this collateral the lenders can offer lower interest rates than that of a payday loan (with no collateral involved).

  • No Credit Check

    To some individuals this may be the biggest benefit of all there is no credit check requirement to apply for, be approved, and receive a title loan.

  • If these benefits sound like something you want to take advantage of then don’t hesitate; call our toll free number, 1-800-287-4812   or fill out the easy online application at TexasTitleLoan.net  today!



    Getting $15, 000 Personal Loans For Bad Credit And Debt Management #15000 #loan


    #15000 loan
    #

    Getting $15,000 Personal Loans For Bad Credit And Debt Management

    Overcoming financial pressures is made easier with a loan. Lenders are willing to grant a $15,000 personal loan for bad credit if the purpose is to take control of spiraling debt.

    Most of us believe that having bad credit scores means we have very little chance of securing a meaningful loan. Lenders, after all, do not like lending to risky borrowers. But with the growth of online and subprime lenders, large loans have become attainable. So, a $15,000 personal loan for bad credit and debt management is realistically possible.

    It would be nice to get fast loan approval, but lenders will often take their time to check credit histories when a large sum is being sought. However, getting loan approval to clear debts is more likely because of the purpose. The only thing for applicants to worry about is meeting the basic criteria.

    But to help in the approval chances, it is worth enhancing aspects of the application, like improving the credit score to lower interest rates, and adding a cosigner to remove the risk. With such a strong application submitted, getting a personal loan becomes a formality.

    How to Qualify

    So what are the basic criteria that must be met? Applying for a $15,000 personal loan for bad credit can be tricky but qualifying is pretty straightforward. There are just four principal qualifications to worry about, and these are no surprise to anyone who has ever sought a loan in the past.

    The first qualifying condition is that the applicant is aged 18 or older. The second, is that they are a US citizen, or have a permanent residency visa. And the third, is that they must be in full-time gainful employment. Normally, the applicant must be employed in their current job for a minimum of 6 months.

    It is impossible to get loan approval to clear debts if these conditions are not satisfied first. But once they are, other details are examined, like income and debt-to-income ratios. Applicants also need a bank account, to ensure an easy funds transfer and to facilitate automatic repayments for the personal loan.

    Consider Credit Score Improvement

    There is no secret to the advantages of getting a $15,000 personal loan for bad credit management, or to clear debts that are causing financial woes. The extra cash can clear existing debts, and as each is paid off, the credit score of the applicant rises. As a result, extra cash is freed up to allow funds to be go elsewhere each month.

    But bad credit borrowers must accept some compromises if they are to secure these loans at all. Low credit scores mean high interest rates, which means the repayments each month are high. Getting loan approval to clear debts may be admirable, but if the repayments are too high then rejection will follow.

    So, it is a good idea to improve the credit score before submitting an application. This can be done with a series of small payday loans, perhaps of just $500 each. They must be repaid quickly, but when they are, each loan cleared will raise the score, making life easier when seeking a larger personal loan.

    Get a Cosigner

    Improving the credit score is a good idea, but getting a cosigner vastly improves the chances of securing a $15,000 personal loan for bad credit. Cosigners guarantee that monthly repayments will be made, even if the borrower is unable to make them. In doing this, the element of risk is removed from the loan deal.

    It also means that interest rates are lowered and so the loan becomes more affordable. And with nothing to worry about, lenders are only too happy to grant loan approval, to clear debts or any other reason.

    The only condition is that the cosigner has an excellent credit record. a healthy debt-to-income ratio and a reliable income that is also large enough to handle the personal loan repayments.

    Source: Free Articles from ArticlesFactory.com



    Getting a Car Loan? #boat #loans #calculator


    #new car loan
    #

    Average new car loan is now 66 months

    When it comes to new-car loans, many people are gravitating towards loans that extend over increasingly long periods of time. What they may not realize is that those loans could be dangerous to their finances.

    According to a recent report by Experian Automotive. the average new car loan in the first quarter of 2014 was 66 months, a month longer than the average over the same period in 2013. And nearly 25 percent of loans were for 73 to 84 months. We’ve even seen some financing companies offer car loans of as long as eight years.

    Why the attraction to longer loans? Because they result in lower monthly payments. That encourages you to buy more car than you may be able to afford. And car dealers get excited when they can get customers to focus on the low monthly payments instead of on the fact that their new car is costing twice as much as their parents paid for their first house. But this mortgagelike approach to auto financing has serious downsides, which is why we don’t recommend buying a car that requires a loan of more than 48 months.



    Government Debt Consolidation Loans for Student Loans #payday #loans #direct #lender


    #government debt consolidation loans
    #

    Government Debt Consolidation Loans for Student Loans

    If you are burdened with multiple student loans, you can take the help of government debt consolidation loans to ease your burden.

    Debt consolidation loans from government

    If you have multiple student debts, it often causes you a lot of inconvenience to make payment to each creditor every month. Government debt consolidation loans can take away some of your troubles. These loans are made available through different government programs so that you can repay your multiple student loans. Under this arrangement, you are required to make only one single payment every month instead of making separate monthly payments to each of your creditors. In order to reduce the interest rate, debt consolidation converts unsecured debt into secured debt.

    Various government programs

    The government runs different types of programs that especially help the student community to consolidate their loans to reduce and eliminate their debt as quickly as possible. Students incur debts mostly because of student loans, credit card debt, and medical bills. The education department of the government usually settles the original federal education loans and arranges a fresh loan for the consolidated amount of the old loans. This is done under what is known as the Direct Consolidation Loan Program. They do not consolidate other debts.

    Programs under Higher Education Act

    There are two programs under the Higher Education Act, the Federal Family Education Loan Programs and the Direct Loan Program, which offers you the advantage of debt consolidation. Under such an arrangement, you are issued a fresh consolidation loan so that you can repay your existing student loans. In all probability, you took your existing loans from various sources having different terms, dates of repayment etc. Debt consolidation will consolidate all your loans into a single one requiring a single monthly payment at a reduced interest rate. The amount of monthly payment you are required to make is also smaller to your advantage. Better still, you now have a clear idea about your repayment terms, the interest rate charged, and the due date of payment. You are often allowed to extend your payback term so that repayment becomes easier for you with monthly payments getting smaller.

    Four government plans

    You can utilize four plans under the government debt consolidation loan program, namely standard plan, extended payment plan, graduated payment plan, and income contingent repayment plan. No matter which plan you need, each of them contains features that greatly help anyone having student debt problems. All these plans provide the flexibility that one expects from a good debt consolidation program.



    GAcollege411 – Georgia Student Access Loan Program #personal #loan #bad #credit


    #student loan application
    #

    GAcollege411 – Expand Your Opportunities

    At an eligible TCSG (Technical College System of Georgia) postsecondary institution

    • Applicants must have first applied for and exhausted other student financial aid options including federal, state and private scholarship and grant programs and Veterans Education Benefits.
    • Interest rate structure for loans received on or after July 1, 2014:
      • Fixed rate of 1% while in school and out of school as long as the loan remains in good standing.
      • A monthly Keep In Touch (KIT) Payment of $10.00 is required approximately 60 days after the first disbursement is received. The monthly KIT Payment is required while in school and while in grace period.
    • Repayment is a maximum of fifteen (15) years with a minimum payment of $50.00 for loans received on or after July 1, 2015.
    • The minimum loan amount is $300.
    • The maximum term loan amount is $1,500.
    • The maximum loan limit is $3,000 per year and up to a maximum of $12,000 over a college lifetime.
    • Origination Fee – A non-refundable fee of 5% of the loan amount, but not more than $50.00, is deducted from the first disbursement of the loan.
      • The program is also designed to provide loan discharge to those TCSG students who graduate with a minimum 3.5 cumulative Grade Point Average in program of study for which the loan was received.

    Student Eligibility

    In order to receive the Student Access Loan, students must:

    • Be considered a Georgia resident and United States citizen or eligible non-citizen.
    • Complete a valid Free Application for Federal Student Aid (FAFSA) in order to apply for this program.
    • Maintain Satisfactory Academic Progress (SAP) in accordance with the SAP policy at their college or university.
    • Must be enrolled in an eligible Georgia postsecondary institution.
    • Meet all eligibility requirements.


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    Unsecured loans no credit check

    If financial crisis is the need of the hour, applying for unsecured loans no credit check is the ideal way to find quick money. It does not matter what your credit scores are. However unfavourable your credit history may be, you are sure to get instant monetary support through us at Long Term Loans Utah. The loan amount that you get by applying for unsecured loans no credit check depends upon your financial condition and nature of requirement.

    We do not ask you to pledge any security against the amount that you borrow through us. Also, we do not discriminate between tenants and house owners. Whether you live along with your parents or own a separate house is not a matter that affects us.

    Our eligibility conditions are quite simple and easy to be satisfied. To procure monetary support through us you need to be a citizen of the United States who owns a valid bank account. Your age must be eighteen or above and you must confirm to have a steady source of income every month.

    You are fully free to make use of the loan amount whichever way you want. We do not interfere in how you make use of the borrowed amount as we consider the loan amount as all yours once it reaches your hands. The online loan application procedure is quite simple. With us, getting the required amount is just a matter of few clicks and do not take more than a few minutes to be completed. Apply now!



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    Installment Loans

    If there is a financial emergency, Snug Loans there to help

    When you have to browse huge online sites to choose the right broker, it becomes tough. With Snug Loans, you can get introduced to people who need money, and we help you find the leading and most reputed private money lenders of the country.

    Customers can get online Installment loans, with us in a hassle free manner. The customers do not need to involve in huge paperwork – just filling out a simple online form will begin their loan processing.

    Reduced Hassles of Credit Checking

    The payday Installment loans available with us comes with reduced hassles of credit checking, so despite having bad credit you can have loans.

    Interference of Legislation

    You might have heard many negative about installment loans as the interests charged on them often differ from state to state. For example, interest rate charged by a lender in Dallas will be different from the one charged in Washington DC. However, it is not a matter to worry, since legislation of the United States is constantly monitoring the annual percentage rate (APR) charged by different lending institutions from different states and has set limitation on how much a lender can charge as APR.

    APR calculation

    Borrow $200 for 14 days with a $30 to $60 lender fee, the estimated APR will be 391.07% to 782.14%

    Calculation: (lender fee / loan amount) x (amount of days in a year / duration of the loan) x 100

    Low End of Range: ($30 / $200) * (365 days / 14 days) x 100 = 391.07%

    High End of Range: ($60 / $200) * (365 days / 14 days) x 100 = 782.14%

    Look Out for Comparatively Less Expensive Loans

    Well, you will get installment loans for bad credit at low cost which a conventional loan does not provide. At Snug Loan, customers will get less expensive loans. People often skip to calculate the APR charged by banks and other traditional lenders including credit card lenders. As a result, they often need to pay back a huge amount as interests especially if they somehow miss to repay the amount within due date.

    Reasons to Choose Snug Loans

    Well, we provide a number of reasons to maintain transparency, such as –

    • We help you connect to the right lender at the right time so that you get the required money and use it for your urgent financial commitments
    • We do not discriminate between good and bad credit profile, all we want is an error free credit report
    • Our financial advisors help customers understand their individual financial condition, and tell how they should use the money to repay outstanding debts

    3 Easy Steps to Get A Loan with Snug Loan

    Follow three simple steps besides furnishing some important paperwork such as income proof, age proof, and address proof to get online installment loans. Just apply and get the money in a hassle free manner to repay delinquent debts, repair bad FICO scores and poor financial reports.

    • Fill out a simple online application form
    • Submit it and wait for a while
    • Get your needed money deposited into your active bank account

    Eligibility Criteria

    In order to qualify to get installment loans for bad credit via Snug Loans, you need to fulfill some basic criteria as the country s legislation has set up some rules and regulations that we must obey. As per the legislation –

    • A borrower must be at least 18 years of age and a legal citizen of the USA.
    • He or she should have a monthly income of 1000 USD or above
    • Must be working with the same employer for at least six consecutive months

    Installment payday loans is easy obtainable and can be paid off in easy installments. However, the usual loan repayment period is 6 months. For further information, please visit our contact us page.



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    Online Payday Loans

    Money emergencies happen to everyone!

    An online payday loan can quickly help you solve a problem. Many people assume these things only happen because someone is watching their spending or is being careless but this is often not true. Insurance companies call these ‘acts of God’ because they occur randomly and there is no way to avoid them. For example, you live in Kansas and we all know the kind of thunderstorms that can come through there in the spring and summer. You are right in the middle of a big one and your car happens to be parked outside when all heck breaks loose. The golf ball size hail is pounding away, some windows in your home are broken and so on. Maybe you have insurance, great. But what about those deductibles. Many of us have a $1,000 or higher deductible on our car because the insurance rate is too high to have a lower one. same for a home.

    You need a quick source of cash to handle this emergency. A short term loan that you can get quickly and easily may be the perfect solution. There may be a company in your town that does payday loans but you don’t want the inconvenience of driving there and want your privacy respected. So, you go online to find your loan company. Why not? You can apply in a few minutes and get your answer quick and your money too.

    The fastest growing way to get a payday loan is online.

    Trying to get a quick loan from a bank or savings and loan is like trying to pull the teeth on a tiger. Maybe you would try but most people won’t. Plus, you have to fill out all this paperwork, wait days to get your answer, have a great credit score. It is all too much. Banks are reluctant to approve loans of people who do not have a good credit score or who have no credit.

    Payday Loan = No Hassles

    Most lenders require you to provide some form of identification, be 18 years of age or older, have a valid checking account, be working. Other requirements may also be in place for certain lenders.

    You can borrow the money for any reason, provide no collateral e.g. title to your car for security.

    You just complete the form provided accurately and completely and hit the ‘submit’ button. Someone will call you to verify your information and get any additional information needed and let you know if your loan is approved. It really is THAT easy. Some lenders will even take your application over a long holiday weekend, after all, those ‘acts of God’ don’t have any set times they occur, do they?

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    These are typically short term loans Student loan options for repayment collaborating 3rd party loan Student loan options for repayment providers on the internet contain the ideal spouses.

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    Get a Home Improvement Loan for Your Renovation Project #unsecured #bad #credit #loans


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    Did You Know a Home Equity Line of Credit (HELOC) can be used for Home Improvement Projects?

    If you own a home, chances are that you’ve had several home improvement ideas in mind for some time. We want your dream renovation to become a reality, and now they can, by applying for a Nationwide home equity line of credit (HELOC) or home equity loan.

    Using a HELOC for your home renovation

    You can easily use a home equity line of credit (HELOC) to pay for your home improvement projects. As a type of home improvement loan, a HELOC is a line of credit extended to you based, in part, on the value of your home. With it, you’re approved for a total loan amount, but like a credit card you are only required to pay back the amount that you have used. You can use special checks or a Visa® card connected to your line of credit to pay for what you need, when you need it.

    There are flexible repayment options when you reach end of draw, and often times the interest accrued can be tax deductible. Please consult your tax advisor regarding the deductibility of interest of your home equity line of credit. A HELOC from Nationwide Bank offers low variable interest rates, which means you’ll have more money, as compared to other financing options, for your planned projects.

    Home equity loans can also be used for home renovation costs

    If you need a specific amount of money for a larger, one time home renovation, a home equity loan is a great solution for you. You will get a lump-sum payment with a fixed interest rate, so your monthly payments stay consistent.

    Whether you opt for a HELOC or a home equity loan depends largely on the scope of the projects you have in mind for your home. Ultimately, both home improvement loans feature attractive interest rates that consistently beat credit cards, as well as potential tax benefits on the interest that you pay. Sit down with your tax advisor to discuss these potential benefits in greater detail.

    Neither Nationwide nor our agents or representatives give legal or tax advice, so you should consult your attorney or tax adviser for answers to your specific tax questions.

    Home Equity Comparison Chart



    Get Instant Approval Cheap Personal loans $5000 no credit check online! #bad #credit #payday #loans


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    Get Instant Approval Cheap Personal loans $5000 no credit check online!

    Overburdening debts and poor financial management has resulted in creating bad credit history for scores of people in the past. Get Instant approval bad credit personal loans – Instantpaydayloanonline.info

    FOR IMMEDIATE RELEASE

    May 22, 2011PRLog — Overburdening debts and poor financial management has resulted in creating bad credit history for scores of people in the past. Credit history includes County Court Judgments, default payments and financial transactions. You are in need of a personal loan to meet some of your pressing needs of life and the banks are turning you down because of your credit history, bad credit personal loans may be the answer for your financial problem.

    There are various lending institutions, which do consider a bad credit personal loan application. There are two types of bad credit personal loans available in the market:

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    1. Secured bad credit personal loan

    2. Unsecured bad credit personal loan

    A secured bad credit personal loan is easy to get provided one offers some collateral whereas an unsecured bad credit personal loan does not need collateral. Since an unsecured bad credit personal loan doesn’t require collateral they are charged high in interest and it needs a lot of convincing to be done with.

    A bad credit personal loan can be used to settle your past arrears, settle credit card bills, for home improvement plans and many other things as one wishes to. It also provides you an opportunity to correct your credit history for the future ahead.

    It’s always prudent to do some research online, look and compare various options available in the market and then go for a right bad credit personal loan depending upon one’s needs and capability to repay.

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    Get Bad Credit Installment Loans Online #simple #loan #agreement


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    Bad Credit Installment Loans

    It’s easier than ever to shop around if you’re looking to get bad credit installment loans online. Not only can you research your options and find the information you need, but you can also find a lender to help you from the privacy of your own home without having to stand in line.

    How does an installment loan work? An installment loan is the kind of loan that has a fixed repayment schedule. They are a popular kind of loan because of their scheduled payments as well as being an alternative to reconnect fees, late fees, and other penalties against your accounts.

    If you’re looking for a lender who offers installment loans, MoneyMutual may be able to match you with the right kind of lender who might be able to meet your needs. We’re a lender-matching service who may be able to connect you to a lender that may be able to offer you an installment loan, even if you have bad credit.

    Though we are not a lender or broker, we will attempt to match you with a participating lender in our network of lenders who may be able to approve you for a loan, even if the economy has devastated your credit. While we aren’t involved in the loan application or approval process, our service is absolutely free. If we are able to match you with a lender, the lender will finalize the processing of your loan and you may have money directly deposited within 24 hours.

    Shopping for and applying for a loan online has become easier and quicker in the modern age When applying for bad credit installment loans online, keep in mind that lenders may require proof of regular income that is deposited into a checking account, among other qualifications. Having a bank account can provide lenders the ability to deposit money directly into your account if you are approved for and agree to the terms of a loan. If you do not have a checking account, you may need to offer the lender references they will verify before they consider approving your loan. Remember, this process could lengthen the time it takes to receive money if you’re approved.

    Depending on the lender, the terms and conditions of your loan can vary. Before you accept any loan offer, take your time in reviewing all the terms and conditions specific to your loan. If you’re approved, make sure your loan offer has very specific language laying out the terms, including the due dates for payments or any kind of charges related to the loan. If you have any questions about your repayment terms, contact your lender directly.

    Shopping for and applying for a loan online has become easier and quicker in the modern age. If you’re looking for a lender offering bad credit installment loans online, we might be able to match you with a lender who may be able to help all from the privacy of your desktop computer, laptop, or mobile device.

    APPLY IN LESS THAN 5 MINUTES!



    Get a Loan Online Instant Approval. #cash #loans #for #bad #credit


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    Get a Loan Online Instant Approval

    PERSONAL LOANS

    Safe, Simple, Comprehensive

    Unlike a Traditional Bank Loan:

    No paperwork, no long approval processes, and no waiting in line. You’ll get a decision in seconds on your loan application any time of day or night and you can get from $250 to $2500 the next business day.*

    Online Payday News, Articles Information

    Personal Loans Continued.

    Subprime personal loans may be a good alternative for borrowers with bad credit or recent bankruptcies. Personal loan lenders have long understood that most people seeking personal loans online have less than perfect credit. In a lot of circumstances the personal loan represents a better alternative than a mortgage or car loan from the dealer.

    Subprime personal loan companies will usually overlook recent blemishes on your credit and concentrate on the ability to repay the loan

    Personal loan lenders tend to focus on the borrowers job time, length of residence and debt verses income ratios. They will often attempt to identify certain personal assets you may own as items to secure the loan as collateral to help get you approved, some examples are:

    • Pool Table
    • Compact Disk Collection
    • Stamp Collection

    If you are comparing a second mortgage to a personal loan you may be surprised to find out that subprime personal loans can sometimes represent a better deal for Subprime borrowers. Second mortgages usually have higher closing cost and a longer pay back period. This may reduce your payments a little in the beginning but could possibly extend your payments as much as 25 years.

    Subprime personal loans will usually have a higher interest rate than second mortgage solutions will. However, when closing cost and the additional time required to repay the loan are considered the total pay out will usually be lower.

    When seeking a higher loan amount the second mortgages will begin to make more sense when compared to subprime personal loans. Their tax deductibility and longer payment terms are better suited for loan amounts over fifteen thousand dollars.

    We recommend that most borrowers seeking debt consolidation or auto loans in the ten to fifteen thousand dollars range seriously consider a subprime personal loan alternative. Here at lendfast.com we have a large selection of personal loan lenders to choose from, you can find them here.

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    Georgia Title Pawn Loan from an Online Pawn Shop #loan #rates #today


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    Title Pawn Loans

    Georgia title loans are offered by Georgia’s fastest growing title pawn loan broker. We offer title loans at the absolute best deal guaranteed for all Georgia residents looking for the fastest, safest, and easiest way to use the title to their vehicle as collateral for fast cash. There are no credit checks, no credit reporting, no hidden fees, and no lengthy application process when you get a Georgia title pawn loan from ePawnMarket.

    We offer the best Georgia title loan rates and terms in the state by using our online pawn shop to process the transaction almost entirely online. We are a full service Georgia title pawn broker and our process is completely mobile. Fill out your application online, submit any necessary documents online, then meet one of our agents at a location convenient for you. The Georgia title pawn loan process from ePawnMarket is safe, convenient, and discrete.

    You can get a Georgia title loan using the title to your vehicle, motorcycle, boat, RV, trailer, and more! EpawnMarket is the largest full service online pawn shop in Georgia and we understand the needs of our fellow residents. In addition to the titles already mentioned we also offer Georgia title loans on commercial vehicles, heavy equipment, recreational vehicles, and luxury assets like yachts, planes, house boats, and more. If you find yourself short on time and in need of cash fast then we are here for you.

    The Georgia title loan rates and terms are guaranteed to be the best in the state period. We are your neighbors and we understand the need for extra cash occasionally. We offer you title pawns at rates as low as 2.99% per month! We are trying to give you a chance to get out from under your existing title pawn and refinance your Georgia title loan in a way that you can afford to pay the loan off! EpawnMarket, changing the landscape of title pawn loans in Georgia.

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    Free Student Loans, Apply for Free Grants #how #to #get #a #car #loan


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    Free Student Loans

    Within a span of a generation, the educational industry has seen a dramatic shift. Educational institutes have relocated to expansive campuses with highly qualified faculties and state of the art facilities to help educate the future. These multimillion dollar investments have produced the finest academics of our generation. However on the flipside, these advancements have also alienated a section of our society unable to keep up with the staggering tuition costs. These costs introduced a culture of working class parents devoting their life savings for their children’s education. There was a time when college education was exclusively associated with the privileged few, however there has been a concerted effort to bridge this gap with the introduction of free student loans .

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    Free Student Loans

    Student loans free of any costs is a combined effort by the Government and charitable organizations to give every child a chance at quality education. There is a valid debate that loans can never be free as they need to be paid back. However, there are a number of avenues that student’s can look into which can help with their education without costing their parents an arm and a leg. Some of these options are grants, scholarships and interest free loans .

    Affordable Options

    free student loans was rated

    10 out of 10 based on 7 rating(s)

    Q: How do I find out if I can apply for the interest free student loans that are currently available?

    A: In order to apply for an interest free loan, you should first start by submitting your FAFSA form. This will generate results of what is available to you in terms of grants, scholarship and financial aid. If there is a shortfall in the funding available, you should then consider taking out a loan. Our web-based search tool can help you find the best loan for you.

    Q: What can you tell me about free student loans and grants?

    A: Student Loans And Grants are offered by federal authorities, state, and private lenders. Students facing financial constraints can apply to the federal financial aid program as these are awarded to students facing financial problems mostly. Students who do not qualify for federal program can seek other loan and grants options such as state government and private lenders.

    Q: What are the options for free student loans?

    A: Free student loans are one that either do not have to be paid back or are interest free. Grants and scholarships usually fall under this category. These are offered by government and non-profit organizations who aim to help deserving students. The institute you may be getting into also may have their own package of free student loans that can be checked.

    Q: What are free loans online?

    A: There is actually no such thing as a Free Student loan. The only money you get for free for education are the scholarships and grants offered by various sources. But as the name itself suggests, a LOAN is a loan and has to be repaid at some point. A few lenders like the federal student aid program and a few private lenders offer interest free loans but even without the interest, the original amount has to be repaid at some point.

    Q: What should I keep in mind before going for the student loans and grants?

    A: You need to see some important factors before selecting any of the student loans and grants. You need to be very careful in selecting the right loan for funding your education. It is recommended that you thoroughly read the terms and conditions of the loans and also do plenty of research about the lender. Students usually are advised that they first find out about the federal loaning options before considering any other sources of lending.

    Q: As I was reading about Free Loans to the meritorious students, I found out that applying for loans online is easy?

    A: If you are applying for federal based student loans, the process is quite simple. All you have to do is fill out a FAFSA form. This application is available online and is free of cost. Federal loans are granted to individuals who cannot afford education. On the other hand, if you wish to apply for private student loans, the application process will depend upon the banking institution.

    Q: What will I have to do to get college loans and grants?

    A: College loans and grants are available for almost all students who want to pursue a college education in the US. These loans and grants may be in the form of government supported aid or private grants and loans. In order to apply for college loans and grants you should fill out the FAFSA form which is available online and in student aid offices.

    Ask your Question

    * All Fields are Required



    Florida Title Loan – Instant Online Car Title Loans #bac #home #loans


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    Risky Credit Histories and Economic Challenges Resolved Easily With Car Title Loans in Florida

    You know that no matter what happens you will not clear all of your cash flow challenges, heedless of how much preparing you do, something in all probability will go completely wrong. Our title loan services will provide persons across Florida with extremely fast and also easy to understand auto title loans which in turn can easily deliver you the hard cash you require directly. Making certain you will have a relief plan prepared is essential so you could be positive you are getting the income you will need immediate when disaster hits. Sadly, most all individuals think that having bad credit automatically places them in a lousy situation. All the same, most individuals definitely have a range of options whenever it comes to obtaining money meant for crisis situations; car title loans are definitely one solution for a lot of people.

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    For those instances when you could have a real monetary calamity consequently they are left with terrible credit rating, the alleviation of knowing that you choose to have alternatives can be a huge assist. You possibly can really feel the tremendous burden raised and you certainly will know that not only are you capable to get precisely what you will need, but you will be also capable to be sure that your payments are inexpensive so that you choose to aren’t building extra problems for your self. Tremendous financing packages including our car title loans may deliver you with rapid cash not to mention being qualified will be very easy. Solutions similar to this is generally the best solution to your difficulties and additionally provides a person the greatest solutions you ought to happen to be trying to find.

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    Free Loan Amortization Calculator for Car and Mortgage #loan #sharks


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    Loan Amortization Calculator

    The browser does not support JavaScript. The calculations created using SpreadsheetConverter will not work. Please access the web page using another browser.

    Help

    Term of Loan. Mortgage loans usually have 15 or 30-year terms. Auto loans are usually between 2 and 5 years. For a 6-month term, enter 0.5.

    First Payment Date. Assumes that the first payment date is at the end of the first period.

    Payment (per period). This is the amount that you would pay by the due date each period. Although the payment is rounded, this calculator does not account for rounding, so the balance may be off by a few cents or dollars.

    Total Interest. This is the total amount of interest that you would pay, assuming that you make all of your regular payments.

    What does the Comparison of Payment Frequency Options show? This table lets you compare the payments, and more importantly, the total amount that you would pay, without having to manually keep changing the payment frequency in the amortization calculator. The point is that making more frequent payments usually results in a lower total paid. By the way, bi-weekly payments are usually only allowed when using direct deposit.

    Other Amortization Spreadsheets and Calculators:

    Note: This amortization calculator is meant for educational purposes only. Please consult your financial advisor or lending institution before making any final financial decisions.



    Free Home Mortgage Calculator for Excel #home #loan #repayment #calculator


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    Home Mortgage Calculator

    Download a Free home mortgage calculator for Microsoft Excel

    Our free Home Mortgage Calculator for Excel is a powerful all-in-one worksheet that combines many of the features from our other mortgage and loan calculators. It lets you analyze a variable-rate mortgage or fixed-rate mortgage. and figure out how much you can save by making extra payments .

    Home Mortgage Calculator

    Description

    This Excel spreadsheet is an all-in-one home mortgage calculator. It lets you analyze a fixed or variable rate home mortgage. You can set up periodic extra payments. or add additional payments manually within the Payment Schedule. Use the spreadsheet to compare different term lengths, rates, loan amounts, and the savings from making extra payments. It also calculates the outstanding balance at the end of a specified number of years and the tax returned if the interest paid is tax deductible.

    Using this Home Mortgage Calculator

    Watch the Demo Video

    Learn how to analyze your mortgage using the Vertex42 Home Mortgage Calculator for Excel. Find out how much you can save by making extra payments.

    Information about how to use our free home mortgage calculator and definitions of some of the terms are included as cell comments in the spreadsheet. So, if you have questions, you can hover the mouse cursor over any cell that has a little red triangle in the corner.

    This mortgage calculator can help you answer some of the following questions:

    • How much can I save by making extra payments?
    • How does the tax deduction from paying interest change over time?
    • How much might my monthly payment change over time if I have a variable-rate mortgage?
    • How soon could I pay off my home if I make extra payments?
    • What will my loan balance be at the end of 3 or 5 years?

    New Features of our Home Mortgage Calculator

    • Estimates Property Taxes and Insurance for calculation of the PITI payment.
    • Automatically calculates so-called Accelerated Bi-Weekly payments.
    • Works for both US and Canadian mortgages (via the compounding option).
    • Highly flexible extra payment options.
    • Select a fixed-rate or variable rate mortage.
    • Choose when to start the scheduled extra payments.

    Analyzing an Existing Mortgage

    There are a couple of ways to analyze your existing home mortgage.

    The first is to enter the original loan amount and date and then make adjustments to the payment history within the Payment Schedule as needed. That is the simplest solution, so we’ve added a new feature to the Extra Payments section (at the suggestion of one of our users) that lets you specify what payment you want the extra payments to start at. So, if you’ve already been making payments for a couple of years, you can choose to have scheduled extra payments start on payment number 25.

    The second approach is to enter the current mortgage balance and adjust the term length until the PI payment matches what you are currently paying. Remember that if paying monthly, you can enter a fraction of a year by entering a value like =10+5/12 (for 10 years and 5 months).

    Note: This mortgage calculator does NOT work for so-called simple interest mortgages – you’ll need to try our Simple Interest Mortgage Calculator instead. It also doesn’t work for interest-only mortgages. For that option, check out our new Interest-Only Mortgage Calculator .

    References Resources

    • Government Resources for Homeowners at Vertex42.com – Links to authorative information for home buying, mortgages, etc.
    • Mortgage Loan at Wikipedia.org
    • Home Mortgage Calculator at Bankrate.com – For an online mortgage calculator, this is a pretty good one.
    • Using a Calculator to Prepay ARM at mtgprofessor.com – Explains what happens if you make extra payments with an adjustable-rate mortgage.
    • Home Equity Lines of Credit at FederalReserve.gov – an excellent read!


    Free Interest-Only Loan Calculator for Excel #used #car #loan #rates


    #interest only loan calculator
    #

    Interest-Only Loan Calculator

    Download a free Interest-Only Loan / Interest-Only Mortgage Calculator for Microsoft Excel

    The Vertex42 Interest-Only Loan Calculator is a very powerful spreadsheet based on our popular Loan Amortization Schedule. It helps you calculate your interest only loan payment for a fixed-rate loan or mortgage and lets you specify the length of the interest-only (IO) period. You can also calculate the effect of including extra payments before and after the IO period.

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    What is an Interest-Only Mortgage Loan?

    Both fixed-rate and variable-rate loans and mortgages often give you an interest-only payment option. This option allows you to make payments, for a certain number of years, that include interest only (no principal). The result is a lower payment during the first few years (or months) of the loan.

    During the interest-only period, you are usually allowed to make extra payments on the principal if you want to, without paying any penalty fees.

    At the end of the IO period, the new monthly payment is calculated based on the number of years you have remaining on your loan and your current balance.

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    Florida Car Loans #home #loan #eligibility #calculator


    #title loans
    #

    Quick Easy Car Loans and Bad Credit Loans in Florida

    Florida residents from Orlando to Miami find themselves strapped for funds with piling monthly expenses. With fewer options to turn to through lenders, eTitleLoan presents an alternative to pad those financial responsibilities with fast cash by using your car as collateral.

    At eTitleLoan, we are the leader in fast car title loans in Florida. Our team of title loan specialists approves car equity loans for car owners based on the equity in the car, not on personal credit. Regardless of bad credit or no credit at all, we can get money to you quickly while you keep your car allowing you to receive bad credit loans in Florida. With mobile loan agents in Tampa, Orlando, Naples, Fort Lauderdale, Miami and your Florida city, our team will come to you with the extra funds needed to get you through this financial pinch.

    With our goal of being borrower focused, eTitleLoan took the traditional car title loan process and added a new twist. We have amended the process to be easy and fast while coming to you in-person with a check whenever and wherever that may be convenient for you. Now instead of the traditional wait time of days and piles of offline and online forms, eTitleLoan’s process can be done in hours.

    Starting with a simple online application or call, each title loan submission is followed with a verification call from one of our title loan specialists. Once approved, an in-person mobile loan agent will meet you where and when it is best for you. The application and approval process is customized to get borrowers money fast and at the location of choice, whether at home, office, coffee shop, or other. As a result, Florida car owners typically receive auto equity loans from $500 to $15,000 the same day as the application is submitted.

    Our car title loans in Florida are designed to get you the maximum amount of money fast with the lowest interest rates. Our car title loans are based on a 12-month installment plan. The amount of the title loan we give you is based on the value of the car. Likewise, the interest rate you receive is also based on the value of your car title loan, not on your personal credit. Since you will be keeping your car, we require 6-months of prepaid comprehensive and collision insurance on your car; however, you may choose to have a voluntary damage collision waiver (DCW), which can be rolled into your low monthly payments to avoid upfront costs.

    Some of the Cities we serve in Florida

    It’s that simple. You get cash fast and we even come to you! eTitleLoan provides car owners quick, reliable loans in Florida. Apply for a car loan online or call and meet one of our mobile loan agents in your city today.

    Apply now to get started on you quick and easy loan today!



    Florida Office of Financial Regulation #interest #loan #calculator


    #payday advance loans
    #

    Payday Lenders (Deferred Presentment Providers)

    A payday lender provides a short-term loan in exchange for a person’s check and a fee. The lender agrees to hold the check for a period of time before depositing it.

    In Florida, the Florida Office of Financial Regulation’s Division of Consumer Finance regulates payday lenders. You can verify a license or file a complaint on the OFR website or call (850) Its Your Money (850-487-9687), if you have additional questions.

    Consumers who take out a payday loan from a licensed lender are entitled to the following protections under Florida law:

    • A borrower may borrow up to $500 per loan.
    • A borrower may only have one outstanding loan at any time. This is tracked through a statewide database of all loans taken out.
    • The maximum fee is 10 percent of the amount borrowed plus a $5.00 verification fee.
    • The loan term cannot exceed 31 days or be less than 7 days.
    • Certain contract terms that limit a borrower’s rights are prohibited.
    • A borrower must pay a previous loan in full and wait 24 hours before entering into another loan. This period is designed to prevent loans from being rolled over into new loans and to give consumers the opportunity to consider other financial alternatives.
    • If at the end of the loan term, the borrower is unable to pay the loan in full, the loan provider must provide a 60-day grace period without additional charge. The grace period is dependent upon the borrower making an appointment with a Consumer Credit Counseling Service within 7 days and completing the counseling within the 60-day grace period.

    Remember, Before You Take Out a Payday Loan:

    • Consider alternative solutions
      • Ask about delaying or making payment arrangements on your non-interest bills such as telephone and utility bills.
      • Talk to a friend or family member about borrowing money.
      • Ask your employer for an advance on your paycheck.
      • Set aside savings each month for future emergencies.
    • Verify a license on the OFR website or by calling (850) Its Your Money (850-487-9687), option 1.
    • Especially be careful to check the license if the payday lender is doing business online. Dealing with unlicensed Internet companies makes it difficult to resolve potential problems, and these companies may be located outside the United States.
    • Be wary of other short-term products that mimic payday loans, such as installment loans, open-ended lines of credit and auto title loans, which may use automated clearing houses or electronic transfer every two weeks.
    • Comparison shop for the lowest fees and penalties.
    • Borrow only what you can afford to pay back.
    • Know when your payment is due and be sure to repay the loan on time and in full.
    • Take advantage of local non-profit organizations across Florida that are available to help you with your financial situation. Many of these organizations offer help with budgeting, credit repair, debt repayment and more. Contact your local consumer credit counseling service, asset building coalition or United Way.
    • Set up a budget. Plan for the future by making a realistic budget to help avoid the need to borrow for emergencies and unforeseen expenses. Free budgeting worksheets are available on www.mymoney.gov.


    Four Types of Debt Consolidation Loans #loans #for #people #with #poor #credit


    #debt consolidation loans
    #

    Types of Debt Consolidation Loans

    There are a few different types of loans you can use to consolidate your debt.

    Home Equity Loans

    A home equity loan is a loan that s taken out using the equity in your home as collateral. You typically must have a fair amount of equity in your home and good credit to qualify for a home equity loan. While the interest rates are typically lower than other types of loans, the drawback is that your home is now on the line for your credit card debt. If the payments become unaffordable, you face foreclosure on your home.

    Because of that it s generally not a good idea to use a home equity loan as a debt consolidation loan.

    Credit Card Balance Transfers

    A low interest rate balance transfer involves transferring all your credit card balances onto a single credit card. Low balance transfer interest rates are typically promotional rates that expire after a certain period of time. If you choose this option, make sure you know when the low rate will expire and the interest rate that will go into effect. If you want to use a credit card balance transfer as a debt consolidation loan, you ll need a credit card with a large enough credit limit to hold all your credit card debt.

    Continue Reading Below

    There could be a downside to consolidating debt with a balance transfer – a hit to your credit score. Putting too much debt on one credit card could have a negative impact on your credit score as your credit utilization goes up.

    Personal Loan

    Personal loans can be used as debt consolidation loans. A personal loan is an unsecured loan that has fixed payments over a fixed period of time. Once you re approved for a personal loan, you can use it to consolidate your debts. Depending on your credit rating, you could have trouble getting approved for a personal loan. If you have bad credit you may be approved but at a higher interest rate, or you may not be approved at all.

    Debt Consolidation Loans

    Debt consolidation loans are offered by banks and credit unions for the sole purpose of combining your debts. Debt consolidation loans vary, so it s important that you choose wisely. Debt consolidation loans ideally have a lower interest rate than the rates you re currently paying. They allow you to lower your monthly debt payments by increasing the repayment period.

    Choosing a Debt Consolidation Loan Type

    Know that with a debt consolidation loan, you re not really getting rid of your debt. Instead, you re simply shuffling it around so that it becomes easier to pay. You ll feel like you have less debt and may be tempted to borrow more. Practice discipline and avoid borrowing until after your debt consolidation loan has been completely repaid. Even then, it s important that use good judgment in taking on additional debt.



    Finding Direct Payday Loans from Reputable Lenders. #personal #finance


    #payday loan direct lenders
    #

    Finding Direct Payday Loans from Reputable Lenders

    Direct payday loans can become a burden and cost you dearly if not paid back in time. No doubt when you need money immediately for some crisis or other, a payday loan is the best option due to the easy and quick way it can be obtained. Care should be taken, though, that you go to reputable lenders who will give the loan quickly without a hassle and who will not charge exorbitant interest rates or impose high penalties in case of delay.

    What Are Direct Payday Loans?

    Direct payday loans or cash advances are small, short-term loans available electronically. The application, approval and deposit of funds all are done via the Internet speedily and with no credit check. The lender needs only your Social Security number, bank account number and evidence that you are employed. These loans are the easiest to get with almost no paperwork.

    Reputable Lenders

    The most important factor when you are in need of a direct payday loan is to choose a reputable and honest lender. The market abounds with unscrupulous and greedy people who try to trap needy people into debt, charging extremely high fees. A legitimate direct lender will be state-licensed. When you approach a direct lender, the process of getting a loan is simplified, as his dealings are directly with you and not via a mediator or broker.

    The Process

    Rules and regulations may vary slightly according to the lender, and some details may vary to some extent. All you will need to apply for the loan is a computer with Internet access. You also need to be employed, have a bank account and have a valid Social Security number. You can apply online and approved almost instantaneously, with money going to your account right away. Take care that you will deal with the actual company who will be lending the money and not with a broker. A direct lender will give you a better deal.

    Warnings and Tips

      Select a reputable lender. Check whether the company is offering direct payday loans. Not all lenders who advertise payday loans are direct lenders. Check whether the loan fees, interest rates and any processing fees or charges are listed on the website of the lending company. Do a market survey and obtain and compare the quotes of 2 to 3 lending companies. Check with the Better Business Bureau for any complaints lodged against any of the companies. You can check on the net. Enter the company name and follow with “scam/fraud,” and if there are any complaints, the search engine will throw up links. Learn all about payday loans in forums especially focused on them. Look for lenders with secure sites with URLs starting with “https.” Never go through a broker, as there will be extra expenses, and it will take longer too.

    Use payday loans only for unexpected emergency expenses–not as routine loans to manage the gap between your expenses and income–because the interest rates on these loans are too high.

    Need Cash Now? Get a Cash Advance



    Find the Cheapest Loans – Get a Cheap Loan Comparison Now #payment #calculator


    #cheapest home loan
    #

    UK s cheapest loans

    Everyone wants to find the best personal loans at the lowest price possible, but cheap loans are not one size fits all .

    • What are the best loans?  the best loans are usually just the cheapest loans
    • How to find the best loan rates for cheap loans know how much you want to borrow, how long for, and shop around
    • Which cheap loans are best for me? Consider how much you can afford to repay each month, the quicker you repay the less you will pay, but the larger the monthly repayments will be
    • Types of cheap loans car-loans, personal/unsecured-loans and secured loans
    • Getting cheap loans online Many loan companies operate exclusively online, this helps them cut costs and provide
    • Will my credit rating stop me getting the cheapest personal loan? your credit rating will determine your eligibility for the best unsecured loan rates

    Compare cheap loans

    Compare low APR personal loans from £1,000 to £35,000 and find the right loan for you.

    The cheapest loans are built around a set of criteria that will be different for everyone. Use our comparison tables to find a loan specialised to your needs.

    We explain how to find the cheapest loan for you with the lowest interest rate and explain what you need to know before choosing one.

    What are the best loans?

    As you can compare the cost of the loan upfront, loans compete almost exclusively on price alone, so the best loans are usually just the cheapest loans with the best loan rates.

    However, other things come into consideration to determine the best loans, such as how flexible a lender is, if you can enjoy any repayment holidays, customer service, how long the term is and how long your application will take.

    How to find the best loan rates for cheap loans

    Our personal loans comparison service can help you find the best loan rates available to you.  To find a cheap loan, we will need to know:

    • how much you want to borrow
    • how long you need to repay the loan

    From this information, our comparison service will find the cheapest personal loans for you.

    When you are looking at your results you ll want to find the low interest loans. these are the ones with the lowest annual percentage rate (APR) for the amount and repayment period you want.

    The APR takes into account the cost of interest on the loan and any set up fees or charges.

    Which cheap loans are best for me?

    A loan is a big commitment, so when you are looking for the best loan deals, as well as the APR, there are a number of other things to think about:

    • Can you afford the monthly repayments?
    • Are your circumstances likely to change in the future in a way that could affect your repayments?
    • Will the lender allow you to pay back your loan early if you want to?
    • Is there an arrangement fee?
    • Can you take a payment break or defer your loan payments if you need to?

    Compare cheap loans

    Compare low APR personal loans from £1,000 to £35,000 and find the right loan for you.

    Types of cheap loans car loans, personal and secured loans in the UK

    Broadly speaking there are three different types of loan you can apply for in the UK:

    • Personal loans unsecured loans. normally offered against your credit score
    • Secured loans loans which are typically secured against your home, these are more suitable for long term loans in the UK, with payment terms of up to 25 years
    • Car loans car loans in the UK can be secured against your vehicle, or simply a form of unsecured personal loan

    Getting cheap loans online

    It s likely than many of the cheapest UK loans are not necessarily bank loans. Online loans have emerged as cheap loan competitor in the UK in the past 10 years, meaning many of the UK s cheapest loans are to be found with online specialist companies, or even unorthodox lenders such as peer to peer loan companies.

    Will my credit rating stop me getting the cheapest personal loan?

    If you have had problems in the past, you may not be eligible for the cheapest loans as you will not meet the loan s requirements.

    Often the best loan deals are given to people with the best credit ratings – as a result the rate you’re offered may be higher than the advertised rate.

    Sometimes the lender will try and offer an alternative loan with a higher interest rate.

    The rate you’re offered will also vary depending on how much you borrow and how long you want to repay the loan over.

    Make sure you do another comparison to see if you can find your cheap loan with another lender.

    Read more…

    • Credit Unions Banks and payday lenders aren t the only places you can get a loan
    • Guaranteed No Credit Check Cards Some cards may not require a credit check
    • How To Strengthen Your Credit Rating A good credit rating will determine whether you re offered credit and at what rate


    FHA Mortgage #payday #advance #loans


    #fha loans
    #

    FHA Mortgage

    With less stringent credit requirements and downpayments as low as 3.5%,

    an FHA loan is perfect for first-time home buyers.

    What is an FHA Mortgage?

    An FHA mortgage is insured against default by the Federal Housing Administration. That means these loans have less stringent requirements than the kind you might get from traditional financing sources.

    Originally, FHA loans were created for first-time and lower-income homebuyers. Ever since the credit bubble burst in 2006, however, FHA mortgages have become popular across all income levels. Now, they account for over a quarter of all new purchase mortgages.

    What are the benefits of an FHA mortgage?

    • Down payments start as low as 3.5% of the purchase price of the home.
    • You can qualify for maximum financing with a credit score as low as 580.
    • No closing-cost options are available.
    • Current FHA mortgage holders can qualify for an FHA Streamline refinance with no new home appraisal or income verification.

    Basic Requirements

    • 3.5% minimum down payment for most borrowers
    • Steady employment history or at least 2 years with current employer
    • Minimum credit score of 580 or higher in some cases no credit score at all
    • No bankrupticies within the past two years, with good credit since then
    • No foreclosures within the past three years, with no 30 day late payments since then
    • New mortgage payment should be approximately 30% or less of your gross income

    Why choose Total Mortgage?

    We’re fantastic at what we do, and all we do is mortgages. We can promise that:

    • We have some of the lowest FHA mortgage rates in the country.
    • We’ll close your loan in 30 days or less or we’ll pay your first mortgage payment.*
    • Our mortgage experts will educate you as you move through our process, so you’re not left with questions.

    *Terms and Conditions apply, click here for complete details.



    Find Quick Payday Loans Online – Get Approved Fast #compare #home #loan #rates


    #quick payday loan
    #

    Quick Payday Loans Provide Assistance When It Is Most Needed

    If you need to apply for a loan, chances are you need it quickly, most likely for an unexpected bill that suddenly occurred. Emergency bills are expenses that cannot be predicted and can upset the financial applecart. If you are in need of quick cash and are not certain where to obtain it, quick payday loans may be able to help you.

    An unexpected bill usually requires prompt payment, but it may come at a time when you do not have adequate funds to handle it. If you have just been paid and your paycheck has been depleted, you cannot wait until you get paid again. Your emergency bill will not disappear, so you need to rely on a way of getting quick cash in order to take care of this financial dilemma. Quick payday loans can provide you with the money you need within one day of being approved.

    There are requirements that have to be met in order to get this type of loan, whether you are using an online lender or going to a cash advance store.

    • Your age must be at least 18.
    • You must be a resident of the U.S.
    • You will need to provide a home and work phone number and have a valid email address.
    • You will also need to have a steady source of income of at least $1,000 a month after taxes have been withdrawn.

    A store will require you to also produce photo ID. An online lender will require you to have a valid checking account so that your funds can be electronically deposited. This will provide you with faster service. If you do not have a checking account but do have a savings account, ascertain whether the lender will accept it, as some lenders do use savings accounts in the place of checking.

    Quick payday loans can be a blessing for those with poor credit, as a credit score is not necessary. Since this is an unsecured loan, collateral will also not be required. The loan is meant to be for a short period of time, usually paid back when the next paycheck has been received unless an extension has been requested from the lender.

    Payday lenders may issue loans in amounts ranging from $50 to $1,000. Sometimes, a higher amount can be obtained. Loan periods can range from ten days to thirty-one days, though there are lenders who will issue loans for a period of 100 days, giving borrowers ample time to get adequate funds together for a repayment.

    Through online lenders, quick payday loans can provide borrowers with the following benefits.

    • It is a convenient way of getting quick cash without having to use a bank or a credit card.
    • Online lenders can provide funds through a computer transaction, allowing individuals to receive the money they need very promptly. Both deposit and repayment of the loan can be handled electronically. With automatic repayment, borrowers will not have to worry about forgetting to pay back the loan, thus incurring additional fees.
    • The application process for online lenders is simple and fast, taking about five minutes in total time. After the application has been submitted, approval can come about almost immediately.
    • Online lenders can also provide secure sites with encryption of personal information, allowing borrowers to transmit their sensitive and private data safely.

    When those times occur where a bill needs to be paid and the money is not available, you will want to consider quick payday loans to help you out of a tough financial situation.



    Financing Your Collector Car #pioneer #loans


    #classic car loans
    #

    Lenders are making it easier than ever to get behind the wheel of your dream machine

    Contrary to what members of the general public must think, most enthusiasts don’t build their collections by cruising the big-dollar auctions in search of only the most perfect and desirable cars, throwing greenbacks around in front of the television cameras. No, the majority of us just don’t have that kind of a budget for our hobby, if we have a budget at all. With our modest disposable income, we buy restoration candidates rather than finished cars–sometimes because we get great satisfaction out of the work, but other times because there’s no other financially feasible way in. Or we may learn to love that rusty six-cylinder, four-door sedan, though we lust in our hearts for the pristine V-8-powered convertible that lies far beyond the reach of our savings accounts.

    Article continues after advertisement

    For most of the history of the collector-car hobby, that’s the way it’s been: Your choices have pretty much been shaped by the diameter of the bankroll in your pocket. But a growing number of collectors are turning to a new alternative, signing on the dotted line for loans of anywhere from five to 12 years to get into the driver’s seat of their dream cars right now. Over the past several years, a number of lenders have begun offering specialized collector-car financing, catering to the needs and interests of collector-car fans. You supply the good credit rating and your John Hancock, and they’ll do the rest.

    “Americans like to leverage their credit,” said Mark Schechter, vice president of Woodside Credit of Newport Beach, California, which advertises itself as the fastest-growing collector-car lender in the U.S. “There are far more people who can enjoy the hobby with attractive financing. It’s fun to support the hobby. We’ve seen it grow tremendously.” Since the company began offering loans in the summer of 2003, “it’s been good. We’ve grown tremendously year after year,” Schechter said.

    So, who’s doing the borrowing? The younger generation of car enthusiasts, apparently. “For older collectors, it was a cash hobby. They believe that if you can’t pay cash for something, you shouldn’t be in it,” said McKeel Hagerty, chief executive of Hagerty Classic Insurance of Traverse City, Michigan, which partnered with Woodside in July 2005, to offer financing to its customers. “People in their 30s and 40s are more comfortable making payments for everything, frankly. There seems to be a psychological difference.” Hagerty knows that at least 10 percent of the 500,000 vehicles his company currently insures are financed. “We know that it could be as high as 20 percent, and our guess is that the world is sort of changing.”

    Companies like Hagerty and Woodside were reacting not only to this perceived shift in the attitudes of the nation’s estimated 3 million to 4 million classic car fans, but to the general unavailability of loans for collector cars, as well. Generally, in the eyes of traditional lending institutions, cars are things that depreciate as they get older, which means that the older the car, the shorter the term and the higher the interest. In fact, many flatly refuse to consider loaning money for the purchase of any car more than eight or 10 years old. “If you call your local bank and say, ‘I want to finance a 1932 Chevy,’ they’re not going to have any idea of what it’s worth, so they’re probably going to say no,” said Mark Hyman, whose collector-car dealership, Hyman Ltd. Classic Cars of St. Louis, Missouri, sells about 300 cars a year. “Most local banks aren’t prepared to loan against vintage vehicles.” The exception seems to be the small, local bank that knows its customer well, and will consider making the loan on the customer’s ability to pay, rather than the market value of the car.

    Because banks so often say no, collectors who have needed to finance their purchases have generally turned to that great, gushing money fountain known as the home equity loan. Consumers have tapped the paper appreciation of their homes’ values to pay for everything from plasma TVs to laser eye surgery, so why not the occasional De Soto or Thunderbird? “Initially, business was quite slow,” Hagerty said. “We’re all fighting against the almost free money that everybody’s been given in the form of equity in their homes over the past few years. As interest rates have started fluctuating back up and getting more, shall we say, sober, we feel that the time is right for this (collector car) product moving forward.”

    Home equity loans can offer attractive interest rates, as well as the benefit of tax-deductible interest. There are drawbacks, too. Using a home equity loan to buy a car ties up funds that might otherwise be used for a kitchen remodeling or other project that would add value back into the home. Then there’s the wisdom of using your greatest asset, your home, as collateral for your hobby. Default on a car loan, and the car is at risk; default on your home equity loan, and things get more serious. And home equity loans are often at a variable rate, compared to the fixed rate, simple interest loans that classic car lenders offer.

    The kinds of cars these companies are writing paper for might surprise you. Though all offer loans of a half-million dollars or more, the average loan is solidly in five-figure territory. Hagerty estimated that most of his company’s loans are in the $30,000-$100,000 range; Albert Maranda, finance manager of J.J. Best Banc Co. of New Bedford, Massachusetts, one of the country’s leading classic lenders, puts the average amount at $20,000. In fact, J.J. Best and Classic Car Financial of Bedford, New Hampshire, will be happy to make loans of as little as $6,000, while Capital One Auto Finance of Plano, Texas, sets its minimum loan at $7,500. For Hagerty and Woodside, the minimum loan is $10,000.

    Lenders are comfortable offering generously long terms, up to 12 years in the case of Woodside, Hagerty and J.J. Best. Why? Because, generally speaking, these companies know that collector cars increase in value over time, reducing the risk in lending. “A $50,000 loan with Woodside is $600 per month, because of the long term,” Schechter said. He noted that Woodside’s founder, Roger Kirwan, pioneered this type of loan in 1980, helping customers buy recreational vehicles with loans of up to 25 years. The extended terms don’t mean that borrowers are keeping their cars 12 years; because there’s no prepayment penalty, borrowers can sell their cars at any time and pay off the loan. Naturally, rates tend to vary from lender to lender. We heard quotes of 7 percent to 9.7 percent, depending on the health of the applicant’s credit, so it may pay to call around. Required down payments vary, too, from zero to 20 percent. Loans are made on a simple interest basis, so borrowers pay interest only on the outstanding amount, calculated each month. For a $25,000 loan at 8.2 percent interest over five years, for instance, the monthly payment works out to $510.33.

    One thing you will find does not vary is the lenders’ insistence that all financed cars be titled and fully insured. In fact, J.J. Best’s Maranda noted that most repossessions occur not because the borrower has fallen behind in the payments, but because the owner hoped to avoid sales tax, and failed to have the car titled. Lenders need to be recorded as lien holders on the titles to protect their investments.

    Most lenders will want to have a look at the car, at least to be certain that its VIN matches its title. J.J. Best employs a nationwide company whose inspectors verify each VIN, take photos, and even start and run the car. Woodside, which works primarily through collector-car dealers, expects them to vouch for the cars they’re selling. Buyers may be asked to have the car appraised, if its value deviates too much from the norm, but the cost of the appraisal can generally be built into the loan.

    One caution: If you’re calling to ask for a loan to buy that decrepit Duesenberg your aged neighbor has finally agreed to sell, you may hear crickets chirping on the other end of the line. Neither Woodside nor Hagerty offers loans for restoration projects, although Hagerty is considering entering that business. J.J. Best will consider financing a project, with a number of caveats. “When it comes to something like that, credit is very important to us,” Maranda said. No one wants to see a project stall halfway through; “It’s very hard to repossess pieces,” he said. There are alternative ways to finance a project, though; for example, short-term, interest-only loans can cover until the car is completed, at which time they can be paid off through a collector-car loan.

    Nor is every car eligible for financing. Take a late-model Corvette, for instance. If every driver in the house has his or her own car, and the Corvette is only to be used for pleasure driving, it’s likely to qualify. But if it’s the only vehicle in the household, or will be in use as a daily driver, the answer is going to be no.

    There’s never been a better time to be involved in the classic-car hobby, and ownership of an older, interesting car has never been easier. Collector-car financing is yet another entry point into this wonderful hobby of ours. Only you know if it’s the right doorway for you.

    J.J. Best Banc Co.

    60 North Water Street

    New Bedford, Massachusetts 02740

    800-872-1965

    Hagerty Finance

    141 River’s Edge Drive, #200