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Home Refinance, Home Purchase, Reverse Mortgage, Personal Loans, Auto Loans, Credit Cards, Auto Insurance, Life Insurance, refinance home loan.#Refinance #home #loan


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Refinance

Refinance home loan

It may be easier than you think to refinance your current mortgage.

Home Purchase

Refinance home loan

Comparing loan offers from different lenders can save you time and money.

Reverse Mortgage

Refinance home loan

Seniors over 62 may use their home equity to get cash through a reverse mortgage.

Auto Insurance

Refinance home loan

You might be able to save big on auto insurance by changing providers. fill out our 3 minute form to find out.

Life Insurance

Refinance home loan

Get peace of mind knowing that your family will be provided financial security when they may need it most.

Personal Loans

Refinance home loan

Loans of up to $35,000 are available for various reasons from a range of lenders.

Auto Loans

Refinance home loan

Be it refinance or new car purchase, it pays to shop around.

Solar Energy

Refinance home loan

Find a solar specialist from our network and start saving money on your energy bills.

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Refinance home loan

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Refinance home loan

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Refinance home loan

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Refinance home loan

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Refinance home loan


Home Equity Loan Advice, Line of Credit, HELOC, home equity loan.#Home #equity #loan


Home Equity – All about line of credit

Home equity loan

Monthly payment requirements can vary, depending on whether you have a fixed term loan or a line of credit that permits much smaller payments.

Home Equity Advice

The average cost of a $30,000 home equity line of credit has been around 4.8% all year. That’s as cheap as those loans have been in more than a decade. But you still need to be very careful when tapping the value of your home.

November 7th 2017

These are the predictable pitfalls that can turn the renovations of your dreams into a nightmare you’ll be reliving, and possibly regretting, for years to come. Avoid them, and you’ll dramatically increase the odds of bringing your project in on budget, on time and with absolutely delightful results.

October 30th 2017

Home equity lines of credit can be a cheap way to borrow money for home renovations, college bills or credit card debt. But is your home worth enough to support a second mortgage?

October 24th 2017

The simplest, most likely answer is that your heirs will be allowed to assume your loan and keep the home as long as they make the payments. But, as you’ll see, nothing is simple in estate law.

October 17th 2017

If you’re among the millions of Americans bracing for the minimum payment on your home equity line of credit to go up — way up — there’s no need to panic. There are lots of ways to deal with repaying this debt.

if you’ve had a “For Sale” sign languishing in your yard for more than a couple of months, there’s a good chance you’re doing something wrong or have a problem that you’re unaware of and haven’t addressed. Here’s how to get your property moving.

Whether you’re redoing your kitchen or tackling a smaller project, our expert tips will help you avoid the biggest remodeling mistakes.

If your home isn’t getting the right amount of heat at the right price, it could be time to replace your furnace. Our 10 tips will guide you.

Some home repairs you can postpone forever. These are the kinds of leaks, shorts, cracks and critters that can lead to exceptionally expensive, even catastrophic, damage that you simply can’t ignore.

Wells Fargo no longer allows home equity line of credit borrowers to make interest-only payments on their loans, meaning minimum monthly payments will rise. But this move could also save your house from foreclosure.


Home Equity – What Is a Home Equity Loan, home equity loan.#Home #equity #loan


Home equity debt: What is it and how can you make it work for you?

Home equity loan

A home equity loan or line of credit allows you to borrow money using your home’s equity as collateral.

Wait. Don’t click to another page. If the above paragraph seems like gibberish, you have surfed to the right place. We will explain:

  • What home equity is.
  • What collateral is.
  • How these loans and lines of credit work.
  • Why people use them.
  • What pitfalls to avoid.

First, some definitions:

Collateral is property that you pledge as a guarantee that you will repay a debt. If you don’t repay the debt, the lender can take your collateral and sell it to get its money back. With a home equity loan or line of credit, you pledge your home as collateral. You can lose the home and be forced to move out if you don’t repay the debt.

Equity is the difference between how much the home is worth and how much you owe on the mortgage (or mortgages, if you have a home equity loan or line of credit).

Example 1

Let’s say you buy a house for $200,000. You make a down payment of $20,000 and borrow $180,000. The day you buy the house, your equity is the same as the down payment ($20,000):

$200,000 (home’s purchase price) – $180,000 (amount owed) = $20,000 (equity)

Fast forward 5 years. You have been making your monthly payments faithfully and have paid down $13,000 of the mortgage debt, so you owe $167,000. During the same time, the value of the house has increased. Now it is worth $300,000. Your equity is $133,000:

$300,000 (home’s current appraised value) – $167,000 (amount owed) = $133,000 (equity)

Example 2

In the housing meltdown that began in 2006, many homes lost equity rather than gained it. Instead of increasing, the value of the house dropped after the home was purchased. In many instances, a home equity loan would not be available.

Using the above example, let’s say you buy a house for $200,000. You make a down payment of $20,000 and borrow $180,000. During the next 5 years, you paid down $13,000 of your mortgage debt.

As home prices fell and homes in your neighborhood went into foreclosure, your home’s value dropped by 30% (or $54,000) to $126,000. Because the value of your home is less than the amount you owe, you have $41,000 in negative equity and would not be eligible for a home equity loan.

A home equity loan (or line of credit) is a second mortgage that lets you turn equity into cash, allowing you to spend it on home improvements, debt consolidation, college education or other expenses.

Equity loans and lines of credit defined

There are 2 types of home equity debt: home equity loans and home equity lines of credit, also known as HELOCs. Both are sometimes referred to as second mortgages, because they are secured by your property, just like the original (or primary) mortgage.

Home equity loans and lines of credit usually are repaid in a shorter period than first mortgages. Most commonly, mortgages are set up to be repaid over 30 years. Equity loans and lines of credit often have a repayment period of 15 years, although it might be as short as 5 and as long as 30 years.

A home equity loan is a one-time lump sum that is paid off over a set amount of time, with a fixed-interest rate and the same payments each month. Once you get the money, you cannot borrow further from the loan.

RATE SEARCH: If you’re thinking about getting a home equity loan, let Bankrate help you find the best rates today!

A home equity line of credit , or HELOC, works more like a credit card because it has a revolving balance. A HELOC allows you to borrow up to a certain amount for the life of the loan — a time limit set by the lender. During that time, you can withdraw money as you need it. As you pay off the principal, you can use the credit again.

Example

Let’s say you have a $10,000 line of credit. You borrow $5,000 to pay for new kitchen cabinets. At that point, you owe the $5,000 you borrowed, and you have $5,000 remaining in your credit line, meaning that you could borrow another $5,000.

Instead of borrowing more from the line of credit, you pay back $3,000. At this point, you still owe $2,000, and you have $8,000 in available credit.


Bad Credit Mortgage & Second Mortgage Toronto, Private Home Loans in Toronto, Canada Wide Financial, best home loans.#Best #home #loans


Home Loans Made Easy through Canada Wide Financial

It is disappointing and discouraging when lenders fail to approve you for a home loan in Toronto. If less than perfect credit affects your ability to get a first or second mortgage, we can help you secure the funds you need to purchase the home of your dreams.

We Qualify You When Other Lenders Do Not

Many of today’s banks and financiers have long lists of qualifications that are difficult for most people to meet. Fortunately, here at Canada Wide Financial, we do things differently when it comes to home loans in Toronto. We can qualify you for a loan in several ways, including an evaluation of your employment and income, or even of the equity in your existing home. When other lenders say no, we can help you secure a private home loan.

A Simple Process

To find out if you qualify for a private home loan in Toronto, simply fill out an application. Our underwriters will review it the very same day, and you could receive approval in as little as four to 12 hours. There are no application fees, and in the event that there is an appraisal fee, we will notify you in advance. There are no long wait times, and you will never feel left in the dark.

No Credit? No Problem

Although traditional lenders rely almost exclusively on your credit score to determine your eligibility for home loans in Toronto, we do not. In fact, we use various other criteria, including your job, your length of employment, and your income as qualifiers to help you find the funds you need. We can even help you acquire funds for a second mortgages even if you have an open bankruptcy.

The Right Private Loan for Your Needs

Whether you are interested in home loans in Toronto for bad credit, second mortgages, private mortgage refinancing, or even debt consolidation based on the equity in your home or property, we can help. We can even stop foreclosures, assist in bridge financing, and work with clients who have declared bankruptcy. Despite what other lenders say, we will work with you to discover the best solutions for your unique situation.

If you need private home loans in Toronto, look no further than Canada Wide Financial. When other lenders turn you down, do not feel discouraged. Simply fill out our application, and one of our friendly, helpful representatives will contact you within 24 hours.


Home Construction Loans, Citizens Bank, home construction loans.#Home #construction #loans


Home Construction Loans

While some people search for their dream houses among a pool of houses already built, others prefer to customize their dream homes by building on a specific plot of land. Once you’ve purchased that land and begun designing your dream home, you’ll need to determine financing for the construction, find the right builder and understand zoning restrictions. One option may be to consider a home construction loan or similar product designed to help you with home construction finance, rather than a new home purchase where you would apply for a mortgage.

Before you can get home construction financing in place, you first need to learn building restrictions and local zoning regulations. In most areas, those local ordinances strictly control where, what and how you can build. Generally speaking, they are in place to ensure you to blend in with the look of surrounding structures. Go to your local courthouse or town office and look at a zoning map to determine the zoning classification of where you want to build. Classifications include rural, residential, agricultural, business, commercial and industrial. After you know you’re zoning classification, ask for a copy of zoning regulations.

Once you’ve established that you have the legal right to build your project under applicable zoning rules, you’ll need to give some thought to the narrower zoning provisions that govern allowable design and how they’ll affect your plans. Potential zoning restrictions or guidelines may include:

  • Height and overall size of buildings
  • Building proximity to other structures
  • Area of the lot that will contain structures
  • Distance from the road or a water source
  • Landscaping
  • Fences
  • Pools

Home construction finance options

As these plans begin taking tangible form, you’ll need to get serious about how you’ll secure financing for your project. Some lenders offer a home construction loan that acts as a line of credit to cover expenses during the building and then becomes a permanent mortgage when you receive a certificate of occupancy.

Most home construction loans are made for a limited duration, often no more than a year. Lenders may approve disbursal of the money in phases, which is designed to ensure that distinct portions of the project are completed before any additional funds are released for later phases. You may be able to go this route if you have equity built up in your land already.

As an alternative to a residential construction loan, some lenders will approve you for a permanent mortgage and provide your builder with assurance that you will be starting mortgage payments when you are handed the keys to move into the home. Builders generally have lenders they work with to finance the cost of materials and labor during the build and will be paid by your lender when the work is complete. You will then start making payments on a permanent mortgage. Since you already own the land, this may be considered a ‘down payment’ on your mortgage when you apply, which may help you obtain a larger loan.

Finding a builder

Once you know your zoning options and have lined up home construction financing, you’re ready to search for the right general contractor or builder to help you execute your plans. He may or may not bring an architect to the table as well. Ask around for referrals to builders or contractors with a strong track record of building quality homes on time and within budget.

  • Be clear ahead of time on what your builder will provide you. This is usually something a lender will require as well for greater assurance in your home construction finance.
  • When will the home be completed?
  • Will the builder help with such crucial details as serving as a liaison to utilities?
  • If not, who is responsible for seeing that your house connects to the municipal sewer systems, the electric grid and other utilities?

Choose a permanent mortgage or a home construction loan with help from Citizens Bank

Let a Citizens Bank home loan originator help you decide if a permanent mortgage solution or a residential construction loan is right for you when building your new house. Call us at 1-888-514-2300 to learn more about home construction finance for your situation. If you’re ready to start building, you can start the mortgage application process online today.


How Do Home Construction Loans Work, home construction loans.#Home #construction #loans


How do home construction loans work?

Can you explain how construction loans work? Why is it so difficult to find construction-loan information online?

Construction loans for new-built homes are either obtained by the homebuilder or prospective owner. In pre-recession days, small builders had greater access to capital but now must frequently put the onus on the buyer to get the loan. That’s one reason most new homes rising today are simply “specs” built by big, high-credit corporate conglomerates.

The basics of construction loans

Let’s proceed on the assumption that you’re taking out an individual construction loan. Such loans, which can be tough to get without a previous banking history because of the lack of collateral (a finished home), have special guidelines and include monitoring to ensure timely completion so your repayment can begin promptly.

Construction loans are typically short term with a maximum of one year and have variable rates that move up and down with the prime rate. The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan.

Once approved, the borrower will be put on a bank-draft, or draw, schedule that follows the project’s construction stages and will typically be expected to make only interest payments during construction. As funds are requested, the lender will usually send someone to check on the job’s progress.

Construction-to-permanent arrangement

Upon completion, which is defined by a certificate-of-occupancy issuance and full payment of contractors (and often their signatures on lien releases), the borrower’s loan liability will typically roll over into a mortgage, ideally in an arrangement where the borrower pays closing costs only once. Of late, lenders have been combining the two into a single 30-year loan with one closing, called construction-to-permanent financing. Because of the bank’s greater loan-to-value risks in these, I might add, be prepared to put a little more skin in the game: The lender may offer only 80 percent of project costs or even less. If you already own the land, that can serve as equity.

Construction delays due to weather and material/labor availability are fairly common. Be sure to build some allowances for this into the construction timetable.

They’re a small part of the market

Why is there so little information or competing lender offers on construction loans online? For starters, these loans represent only a very small percentage of home loans. Plus, they’re a bigger risk. Hence, such financing isn’t the type of thing lenders aggressively market online; you have to hit the streets for it. Regional banks and credit unions are typically the best sources.

Without impeccable credit or a strong existing lender relationship, you may be challenged to find an affordable construction loan in today’s lending climate, though a booming local housing market and substantial family income tend to grease approvals.

Ask the adviser

Bankrate’s content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this website is governed by Bankrate’s Terms of Use.


Refinance Advice, Home Loan Refinancing Information, refinancing your home.#Refinancing #your #home


Refinance – Is it the right time?

Refinancing your home

Determine the monthly payments for any fixed-rate loan. Just enter the amount and terms, and our mortgage calculator does the rest.

Refinance Advice

Paying down debt is always a good idea. It will reduce the amount you pay in interest and shorten the length of your loan. But it might not be the wisest use of your money until you’ve done these three things.

October 18th 2017

Paying extra on your mortgage can shave years off your home loan and save tens of thousands of dollars in interest charges. Here’s how to get all of the benefits of paying off your mortgage more quickly without wasting hundreds of dollars a year on an accelerated payment plan.

For most homeowners, the answer is “yes.” While rates are on the rise, by any historical measure home loans remain incredibly cheap, and it’s possible to land a new, cheaper mortgage even if you have below-average credit and little equity in your home.

In our roundup of June’s best 15-year mortgage rates, you’ll find several banks offering cut-rate deals on home loans in areas throughout the country.

My husband and I weren’t planning to refinance our mortgage. But the savings I found were just too good to pass up.

National Mortgage Alliance has one of spring’s best nationally available deals on a 15-year fixed-rate home loan. It’s charging well below the current average cost for these loans and this deal is available to borrowers nationwide.

J.D. Power & Associates annual study is a great way to judge how friendly and efficient the borrowing process is at the nation’s largest mortgage lenders. Quicken Loans does well. Bank of America? Cover your eyes.

By budgeting and doing some work on our own, we remodeled our bathroom for about $13,000 less than the average project costs. Here’s how.

More people are renting and paying more for it, so if you own a rental property, this could be a good sign that you made the smart choice.

It’s been a long path through a politically fraught minefield to get anyone in the director’s chair since the bureau was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act.


Home improvement loan, Barclays, home improvement loan.#Home #improvement #loan


Home improvement loan

Spruce up your property

Whether you’d like a new kitchen, or want to give your lounge a new lease of life, this loan is designed to help you get more from your property.

Loans are subject to status. Early settlement fees apply.

✔ Have a builder’s quote? You could get a no-obligation price quote 1

✔ Simple application and speedy money transfer 2 means work can start quickly

✔ Your personal price quote won’t affect your credit score

0 APR Representative

over 2-5 years. (Your rate may differ 3 )

Why get a home improvement loan from us?

Know your personal rate before you apply for a Barclayloan

Whether you want to undertake a big build or make a small change to your home, knowing how much you have to spend can really help your project.

And unlike some other lenders, in many cases we can give you a personalised price quote up front – with no impact on your credit score. To find your loan rate, simply log in to Online Banking or Barclays Mobile Banking, if you’re registered 1 .

You could get your money straightaway

It’s quick and easy to apply for a home improvement loan, and, if your loan application is approved and you’ve signed your loan agreement online, the money is usually transferred to your current account within minutes 2 .

If you take out a Barclayloan and another lender offers you a like-for-like unsecured loan with a lower APR, you can claim under our guarantee – within 30 days of the date we signed your Barclayloan agreement.

We’ll reduce the interest rate to produce an APR equal to the competing offer and recalculate your monthly repayments to reflect the reduced interest rate. Please see our full price guarantee terms and conditions.

Fixed monthly repayment

This could help you budget.

Choose your payment term

Depending on the loan amount.

Also, with a fixed monthly repayment amount, you can manage your finances effectively.

Already have a Barclayloan and need more funds? You can apply to increase your borrowing with us.

If you just want to take out a second loan instead of topping up, that could be an option too.

Repaying your loan early

You have the right to repay your loan early, in part or full, at any time. We’ll charge a fee equal to 30 days’ interest on the amount you’re repaying, as well as any other interest that’s due.

the right to repay your loan early, in part or full, at any time. We’ll charge a fee equal to 30 days’ interest on the amount you’re repaying, as well as any other interest that’s due.

Eligibility

You may be eligible to top up your Barclayloan online if you:

✔ A Barclays current or savings account, mortgage or Barclaycard

✔ To be aged 18 or above

You can use your loan for almost anything, apart from:

  • Business reasons
  • Investments, including buying stocks and shares
  • Timeshares
  • Purchasing property (home improvements are fine)
  • Gambling-related expenses
  • Repaying CCJs (county court judgments)
  • A purchase made by combining this loan with any others

Resume an application

If you’ve already started a loan application and have saved your progress, you can pick up where you left off.

If you applied via Online Banking

Log in to Online Banking here, and we’ll take you straight to your saved application.

If you used our online application form

If you started your application via our online form, we’ll have sent you an email with your reference number. You can enter the number here.

Our lending commitments and what we ask of you

As a lender, we have a responsibility to act fairly and as part of this we have committed to follow the Standards of Lending Practice. This note sets out some of our key responsibilities and what we ask of you, to ensure that the relationship works well for both of us.

  • We will lend responsibly and aim to provide a product that is affordable for you.
  • We will provide you with information about our products and services and how they work, in a clear and understandable way, so that you can decide what’s best for you and your needs.
  • We will endeavour to make sure our products and services offer, wherever possible, the flexibility to meet your needs.
  • We will treat you fairly and reasonably at all times and make sure that you are provided with a high level of service.
  • If you tell us about any inaccuracies, for example around the personal information we hold about you, we will act quickly to put it right.
  • We will always aim to help you if we see, or you tell us, that you are having trouble financially. We will seek to understand your overall circumstances, try and identify options that you can afford and where appropriate, provide a reference to free debt advice.

What we ask of you

  • We ask you to think carefully about whether you can afford to repay the money you want to borrow and to be open in your dealings with us.
  • Take care of any cards, PINs, online log-in details and other security information to help prevent fraud and help us to protect your accounts.
  • Tell us as soon as possible if your card has been lost or stolen, or if you know or suspect someone is misusing your confidential information e.g. your PIN or online log-in details.
  • Carefully check your account statements to make sure they are accurate. If anything isn’t right, please get in touch with us.

Please let us know if

  • Your contact details change, so we can keep our records up to date.
  • Your circumstances change, particularly if what’s happened is likely to cause you difficulties in managing your account or financial problems.
  • You think that you won’t be able to keep up with your repayments. The sooner you do this, the more likely it is we’ll be able to find a way to help you.

We would also encourage you to refer to the terms and conditions associated with your current account, credit card or personal loan.


Home Loan – Compares Rates & EMI of SBI, HDFC, ICICI, Axis, PNB, DHFL, LIC at Deal4loans, home loan rates.#Home #loan #rates


HOME LOAN

Home loan is really critical and important financial decision in our lives. Before you finalise your bank to secure home loan, try to get more information on current interest rates from different banks. First, gather some more information about how much each bank can give you. Find out eligibility for government and private banks. Which interest rate is more flexible and affordable such as fixed rates or floating rates? What is more easy a prepay option or balance transfer? We try to give answers to all such questions, and make this home loan process simple for you. To find the lender for 20 years term go through the fine print and save for years to come. A perfect Home loan is loan which gives you lowest rates throughout the tenure, has part payment options and allows you to balance transfer if you wish to.

Home loan rates

with Lowest Rates ?

Home loan rates

Home loan rates

Home loan rates

Home loan rates

Should I take Home loan now or wait ?

The right time to take a Home loan is when:

  • The Property you intend to buy is good and cannot be missed or it is expected that the price of property will rise.
  • The EMI that you have to pay per month is above your monthly expense budgets etc.

Bonanza for home loan seekers as govt. offers interest subsidy for those earning 6 lakh – 18 lakh. The scheme has been envisaged for one year. Those who have been sanctioned housing loans and whose applications are under consideration since January 1 this year are also eligible for interest subsidy. Prime Minister Narendra Modi had earlier announced an interest subsidy of 4 per cent on housing loans of up to ₹9 lakh for those earning up to 12 lakh per year under PMAY SCHEME 2017. A subsidy of 3 per cent on housing loans of up to 12 lakh for those earning up to 18 lakh per year.

Major Home Loan providers in India

The first step involved in the process is to find your property, which is followed by the verification of property documents, post that the documents are examined. Simultaneously, you can start searching for the lender who can offer the best home loan deal after checking your eligibility criteria.

Know the Home Loan Eligibility: Banks offer the loan amount based on your monthly income and the value of the property. They will give you max amount in which your EMI of home loan and others loans is 50-60% of your income. Other factor is value of that property.

Applying for the Loan : After you have selected your lender, you have to fill in the application form, wherein the lender requires complete information about your financial assets liabilities; other personal professional details together with the property details its costs.

Documentation Verification Process: You are required to submit the necessary documents to the bank, which will be verified together with the details in the application

Bank sanctions Loan Offer letter to the borrower: After the credit appraisal of the borrower bank decides the final amount sanctions the loan, the bank further sends an offer letter to the borrower, which constitutes the details like rate of interest, loan tenure repayment options etc.

Bank checks the legal documents: The bank further asks the legal documents of property from the borrower to check its authenticity, so as to keep them as a security for the loan amount given. The next step involved is the valuation of the property by the bank which determines the loan amount sanctioned by the bank.

The borrower signs the loan agreement the bank disburses the loan amount.

Documents required in Home Loan

Generally, the documents required to process your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:

  • Income
  • Age Proof
  • Address Proof
  • Income Proof of the applicant & co-applicant
  • Last 6 months bank A/C statement
  • Passport size photograph of the applicant & co-applicant

How is my Home loan Eligibility Calculated

  • Income
  • Qualifications
  • Age
  • Spouse s income
  • No. of dependants
  • Stability and continuity of occupation
  • Assets/LiabilitiesM.
  • Savings history.

The most important concern of banks in determining your loan eligibility is that whether or not you are contentedly able to pay off the amount you borrow.

Fixed and floating rate of interest

When you avail a home loan EMI is calculated either on fixed rate of interest or according to the floating rate of interest. Before finalizing either, you must take a note of both the patterns and take a well-calculated decision. Generally, home loan is taken for a longer tenure compared to other loans such as personal loan or car loan. You borrow the loan for at least for10 years and maximum upto 30 years. In such scenario, you end up paying a huge amount as interest on your principal amount. Therefore, the difference of 0.5% can make huge impact on your overall interest amount. Let’s take a close look at both the patterns of interest.

Fixed rate of interest: Generally, in fixed rate of interest, the percentage of interest is fixed for whole tenure and same percentage of interest is charged throughout the loan. It makes the EMI payable at a constant sum throughout the tenure. Therefore, it is always recommended that you opt fixed rate of interest only when the rates are bottom down and if an upward trend is expected.

Floating rate of interest: Floating rates of interest changed with the market lending rates. Therefore, these rates are prone to fluctuations. The interest rate on your EMI might get increased or decreased depending upon the fluctuation in the market lending rates. In this case, bank provide an alternative to increase the tenure of the loan, at a constant EMI, for the borrowers who do not desire their EMI to be increased in case of higher interest rates.

How to calculate interest rate?

While applying for a home loan, the most important question is rate of interest. One more thing, which is equally important is how interest is calculated by respective bank. Banks are required to quote interest rates on a ‘reducing balance’ basis. Let’s take a look how this whole formula works:

For instance: You have taken a loan of Rs. 1 lakh for a period of one year at an interest rate of 10.00% per annum, on a monthly reducing balance basis. In this situation, you will pay 12 equated monthly instalment’s (EMIs), with a part of each EMI going towards repaying the principal amount borrowed (Rs 1 lakh), and the balance towards servicing the interest on your loan. What is important to note is reducing balance calculation is the interest component of your EMI keeps changing, from a high initial amount in the early part of your loan, to a nominal figures as the loan comes to an end.


PennyMac Loan Services – National Home Mortgage Lender, home loan rates.#Home #loan #rates


Historically Low Rates Won’t Last Forever

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End User shall not use the Consumer AVM reports or information contained in the Consumer AVM reports for reproduction, sale, distribution, publication, advertising or marketing, or any other use in relation to any product or service to be provided to any third party, or any other commercial exploitation.

End User shall not acquire any proprietary rights, including intellectual property rights, in or to the Consumer AVM reports, or the information contained therein, which rights remain solely and exclusively in Collateral Analytics (“CA”) and/or CA’s suppliers and licensors and End User acknowledges that the Consumer AVM reports, and information contained therein are valuable commercial products, the development of which has involved the expenditure of substantial time and money.

End User acknowledges that the Consumer AVM reports provide estimates of the value of real property and other information related to value based upon the application of valuation models to available data and do not constitute appraisals or broker price opinions of subject properties and may not be relied upon as such. The data relied upon is sourced from public records, or statistical calculations (“Sources”) and that the model results and other information provided in the Consumer AVM reports are provided on an “as is, as available” basis with all faults and defects. No warranty, express or implied, including without limitation, those of merchantability and fitness for a particular purpose with respect to the information obtained from such Sources has been made, nor is Licensee, CA, or CA’s suppliers and licensors responsible for errors, omissions, miscalculations, or misrepresentations of value with respect to the Consumer AVM reports.

Any use of Consumer AVM reports by End User shall be at End User’s own risk, and End User hereby indemnifies and holds harmless Licensee and its licensors with respect thereto. In no event shall Licensee or its licensors be liable to End User or any third party for any losses, costs or damages arising from or relating to the misuse of, or any errors, omissions, or miscalculations of value contained in, the Consumer AVM reports.

End User shall not “scrape”, download or otherwise decompile information from the Consumer AVM reports or Licensee’s Web Site.