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Refinance – Is it the right time?

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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.


Mortgage and Home Loan Refinancing, TD Bank, refinancing your home.#Refinancing #your #home


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Data as of March 2017. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.


Mortgage and Home Loan Refinancing, TD Bank, refinancing your home.#Refinancing #your #home


Refinance Your Home

Refinancing your home

Refinancing

Refinancing your home

Lower your monthly payment

  • Switch to a longer-term mortgage
  • Refinance to a lower rate

Pay off your loan sooner

  • Make additional loan payments
  • Calculate potential payments

Consolidate your debt

  • Refinance for cash
  • Get a payment estimate

Refinancing your home

Calculate the options.

All home loan calculators

See if this option works for you.

Refinancing your home

Find out what to expect, from application to closing.

Refinancing your home

Let’s start with a rate and payment estimate

We’ll keep an eye on rates so you don’t have to.

Refinancing your homeManage your current mortgage

  • Log in to manage your account
  • Make a loan payment

Refinancing your homeManage your online application

  • Schedule a call with a mortgage advisor View details
  • Get the status of your submitted application
  • Go to MyDocuments

Loans subject to credit approval. Offer subject to change or cancellation without notice. Equal housing lender. Refinancing your home

Personal Banking
Small Business Banking
Commercial Banking
Investing
Follow Us
  • Refinancing your homeTwitter
  • Refinancing your homeFacebook
  • Refinancing your homeInstagram
  • Refinancing your homeYouTube
  • Refinancing your homeLinkedIn
  • Refinancing your homePinterest
Customer Service

Refinancing your home

Site Map | Privacy | Online Advertising | Security | Accessibility | Terms of Use | Bank Deposits FDIC Insured | Equal Housing Lender Refinancing your home

Securities and other investment and insurance products are: not a deposit; not FDIC insured; not insured by any federal government agency; not guaranteed by TD Bank, N.A. or any of its affiliates; and, may be subject to investment risk, including possible loss of value.

Data as of March 2017. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.


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STAY IN YOUR HOME.

CHANGE YOUR RATES.

POPULAR REFINANCING OPTIONS

Your rate, payment, and costs, could be higher. Get an official Loan Estimate before choosing a loan. The following rates are based on a credit score above 740. Payment examples for fixed rate loans on this page include estimated amounts for escrow items, such as property taxes and insurance. Click on the Learn More button for more details.

5/5 ARM

Adjustable Rate Mortgage

*Payments shown do not include taxes or insurance, actual payments may be greater. Rates and offers are in effect as of , for new applications only, for a limited time, and subject to change without notice. Example based on $ loan. Other restrictions apply. Rate is variable and can increase by no more than 6 percentage points every 15 years (8.750% for this example). Since the index in the future is unknown, the First Adjustment Payments displayed are based on the current index plus margin (fully indexed rate) as of the date above.

30-YEAR

Your rate, payment, and costs, could be higher. Get an official Loan Estimate before choosing a loan. The following rates are based on a credit score above 740. Payment examples for fixed rate loans on this page include estimated amounts for escrow items, such as property taxes and insurance. Click on the Learn More button for more details.

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REFINANCE PAYMENT CALCULATOR

Once you know how much you can afford to spend on a home, you can use this tool to see how different loan types can change your monthly payment. Different loans offer different features, such as a lower monthly payment or a faster payoff time. See how a typical mortgage payment breaks down, and get the loan that fits your needs best.

The application of additional loan level pricing adjustments will be determined by various loan attributes such as Loan-To-Value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing.


Mortgage Refinancing, Home and Mortgage Center, refinancing your home.#Refinancing #your #home


STAY IN YOUR HOME.

CHANGE YOUR RATES.

POPULAR REFINANCING OPTIONS

Your rate, payment, and costs, could be higher. Get an official Loan Estimate before choosing a loan. The following rates are based on a credit score above 740. Payment examples for fixed rate loans on this page include estimated amounts for escrow items, such as property taxes and insurance. Click on the Learn More button for more details.

5/5 ARM

Adjustable Rate Mortgage

*Payments shown do not include taxes or insurance, actual payments may be greater. Rates and offers are in effect as of , for new applications only, for a limited time, and subject to change without notice. Example based on $ loan. Other restrictions apply. Rate is variable and can increase by no more than 6 percentage points every 15 years (8.750% for this example). Since the index in the future is unknown, the First Adjustment Payments displayed are based on the current index plus margin (fully indexed rate) as of the date above.

30-YEAR

Your rate, payment, and costs, could be higher. Get an official Loan Estimate before choosing a loan. The following rates are based on a credit score above 740. Payment examples for fixed rate loans on this page include estimated amounts for escrow items, such as property taxes and insurance. Click on the Learn More button for more details.

Estimate your costs

REFINANCE PAYMENT CALCULATOR

Once you know how much you can afford to spend on a home, you can use this tool to see how different loan types can change your monthly payment. Different loans offer different features, such as a lower monthly payment or a faster payoff time. See how a typical mortgage payment breaks down, and get the loan that fits your needs best.

The application of additional loan level pricing adjustments will be determined by various loan attributes such as Loan-To-Value (LTV) ratio, credit score, transaction type, property type, product type, occupancy, and subordinate financing.


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Lend Your Money, Turn a Profit #monthly #payment #loans


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Lend Your Money, Turn a Profit

By: BankingMyWay.com Staff

Your bank profits off money sitting in your savings account by lending it out at a higher rate than it returns to you.

So why not eliminate the middleman and lend your money to others yourself? That’s the proposition offered by financial Web sites ranging from Prosper.com and LendingClub.com to Zopa.com, which launched its U.S. site last week.

Though their models vary slightly, these social-lending sites aim to connect borrowers and lenders outside of traditional financial institutions.

The benefit? Both borrowers and lenders can get better rates than they might obtain from a bank, while the Web site makes money off of transaction fees.

Here’s how these sites generally work: A borrower posts a request for a loan, providing both the amount and the interest rate he’s seeking. Borrowers at LendingClub, for example, typically seek $5,000 to $7,000, most frequently to pay down credit-card debt.

A lender, meanwhile, decides how much money she has to offer and what interest rate she will accept. The site then offers what amounts to an online marketplace, where the lender can view various loan requests and decide which to accept.

A New Asset Class?

Once loans are made, the borrowers have the cash to pay down a debt or spring for that wedding. The lender, meanwhile, has a shot at a handsome return. LendingClub, for example, boasts an average return of 12.32% since May, when it launched on Facebook. (Facebook membership is no longer required in order to participate.)

Eric DiBenedetto, a professional angel investor in the San Francisco Bay area, invested “several thousand dollars” with LendingClub on the day of its launch. To date, DiBenedetto has achieved returns of 12% to 14%.

“Originally I did it as an experiment,” he says. “But it’s become a growing piece of my portfolio. It’s a great place to park some of my cash. And in this age of volatility, if I keep getting these returns I may actually move some of the money I have in equities over to these loans.”

Renaud Laplanche, CEO of LendingClub, says that so-called “person-to-person lending” — the industry is still hunting for the right moniker — is an entirely new asset class that deserves its own place in a diversified portfolio. “With this model, you get exposure to a kind of investment that you typically can’t access as an individual,” says Laplanche. “It also has less volatility than the stock market.”

Microlending isn’t without risk to the lender. That said, each lender’s cash is typically spread out across multiple loans, to reduce the impact of any single default. Borrower profiles on LendingClub and Prosper.com include the borrower’s credit score (or a rating derived from the credit score) and debt-to-income ratio. Borrowers who don’t pay face dunning by collection agencies — and notice of nonpayment is posted to their credit report.

While the model is in its infancy, the safeguards seem to be working so far. LendingClub has originated $2.9 million in loans spread across the 425 loans since May, and late payments represent just 0.08% of the portfolio. Prosper.com says it has originated more than $100 million in loans since its 2006 launch, with a default rate of 3%.

The Philanthropic Route

But not all the social-finance sites focus so directly on the opportunity to boost returns. While that’s the model Zopa.com, a British company, uses for its U.K. and Italian sites, CEO Douglas Dolton says for the company’s U.S. launch it wanted to do something aimed at Americans’ philanthropic tendencies.

So at Zopa’s new U.S. site, a borrower receives his loan directly from one of the credit unions with which Zopa is affiliated, and investors — not lenders — buy certificates of deposit, currently yielding 5.1%, directly from the same credit unions. Like other CDs, the Zopa CDs are FDIC-insured and penalize early withdrawals.

Here’s what’s different: Every investor must contribute at least 10 basis points (a basis point is one-hundredth of a percentage point) of her return to a borrower. The funds go directly to a borrower’s loan payment, thus reducing the amount for which he is personally responsible.

The idea behind this approach is that investors will accept slightly lower returns in exchange for the knowledge that their money is helping out aspiring entrepreneurs and people who are mired in expensive credit-card debt.

“We’re tapping into the desire of Americans to help people,” says Dolton “This is not a speculative environment; the investor gets a really spectacular return on a fully insured, very liquid CD. And without doing anything he’s helping a borrower.”

Apart from conventional safeguards for lenders, both Zopa and LendingClub hope that the personal nature of these transactions will reduce lenders’ risk because borrowers tend to be more accountable to individual lenders than to faceless financial institutions.

“This is like Facebook and MySpace meeting social finance,” Dolton says.

For more ways to save, spend, invest and borrow. visit MainStreet.com.


How to get the best loan deal for your dream car #apply #for #loan


#best loan deals
#

How to get the best loan deal for your dream car

The loan math

A loan deal becomes sweet only if there is some kind of incentive from the manufacturer or financier. Otherwise, it can be as good as any other loan deal in the market. Try and separate the loan purchase from other negotiations in order to maximise it. Even if you can’t maximise, you would know what exactly you’ve got.

For instance, a discount offered by a manufacturer can be clubbed in the loan calculation to make the loan deal look much better. Assuming that you take a Rs 4-lakh loan at 12% interest rate for 5 years. The EMI will cost Rs 8,810. Let’s assume that the dealer has got a discount of Rs 25,000 to be offered to you. He doesn’t tell this to you but reduces it from the loan amount, making the EMI as low as Rs 8,259. Or he may also choose to tell the customer that the effective interest rate he is offering is 8.8%. A discount of Rs 25,000 doesn’t sound as lucrative as an interest rate of 8.8% in the current scenario,” says Banwari Lal Sharma, AVP, CarWale Automotive Exchange.

Is it really a discount?

A car dealer offers a “good” deal only under the following circumstances. First, the dealer has a huge stock of a particular car and he wants to liquidate that at any cost. Second, the dealer has service issues, which has impacted his reputation. Hence he may design attractive deals to offset its impact.

If the dealer claims to give a good discount, you should first understand the nature of the offer. The dealer may be offering accessories, insurance, car loan etc. at a ‘discounted’ price. But it may not be the best and the lowest price in the market. “Car accessories such as music systems, Bluetooth are much cheaper in shops owned by the authorised dealers. If the dealer is giving a discount on the car cost or accessories, the dealer has already made his money by earning a good margin on accessories. Thus the dealer makes money by inflating the charges of the value-added services and the customer is usually unaware,” says Rupesh Rele, a Mumbai-based auto expert.

Hence you should cross-check the offer not just with other dealers but also with other industry players who specialise in selling accessories, insurance or loans.

Cash Discount the best bet

A dealer may entice you with a cheaper loan offer which may seem half of what the banks offer. But there are chances he may build it into the cost in some other manner. “A customer should ask only for cash discount. Most dealers say they will offer a lower interest rate instead of a cash discount. That will reduce the customer’s EMI. But car buyers should not fall for this pitch. If you are paying 1 lakh as down-payment for a Rs 5-lakh car loan, ask for a cash discount on that Rs 1 lakh. Then compare the discount offers from various lenders to identify the best deal,” says Harsh Roongta. chief executive officer of Apnapaisa.com .

Age of the car

This is as important while buying a new car. Car sales have plunged in the past two years because of rising petrol prices and higher interest rates. Typically, dealers also offer the best discounts on these “dated” cars. But if you are looking to sell the car in 3-4 years, the manufacturing date of the car will be the sole determinant of the resale value. Let us look at two cars of the same make and sub-type. One with a manufacturing date of December 30, 2011 and the other with a manufacturing date of January 5, 2012. Both the cars have a registration date of May 2012. “The car manufactured in 2011 will be sold for a cheaper price and at a better offer than the one made in 2012. But if you intend to sell this car after 3-4 years, you will get a far lower value for the 2011-car although it is only 7 days older than the 2012-car,” says Rupesh Rele.

Hence don’t forget to look at the age of the car while negotiating on the price and the discounts offered by the dealer.

One rupee and free insurance

The cheapest is not the best when it comes to insurance. You have to look at IDV (insured’s declared value), coverage of the policy and the tie-ups of the insurer before buying an insurance policy. IDV is the compensation you get in case of theft or total loss of the vehicle due to accidental damage. The IDV should not be less than 15% in the second year and 20% in the third year. Also opt for a comprehensive insurance coverage than third party liability. Compare the policy details with what the insurers offer and also the price and quotations.

Next time a dealer doles out the ‘best’ car loan offer, do your EMI math by getting separate quotations from banks based on your loan affordability. Compare those with the dealers’ quotations. And always negotiate on cash discount. This will lower your loan amount, EMI and the interest outgo, too.


How to protect your child’s credit – FOX 14 TV Joplin and Pittsburg News Weather Sports #credit #card #consolidation #loan


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More from Bills.com More

By Andrew Housser

Identity theft is terrible when it happens to anyone. The consequences range from hassle to financial disaster. But what if someone stole your identity, and you had no idea, perhaps for years while the thief opened credit cards or secured vehicle loans, filed taxes and pocketed the refunds, or even took government benefits?

It is possible, particularly with children the group most at risk for this type of unrecognized theft. A 2011 study found that more than 10 percent of victims of identity theft were children. This makes children 51 times more likely to be victimized than adults. The tips below can help you protect the children in your life.

1. Know the warning signs.

Possible identity theft has warning signs. The most obvious is if a child begins to receive credit card or loan offers in the mail, or collection calls. Sometimes, a child receives a notice from the Internal Revenue Service about unpaid taxes. Others may be denied government benefits such as Medicaid because the Social Security number has been used. Sometimes, the theft goes undetected until a child applies for a driveR s license or bank account. A fraud victim may be denied because his or her Social Security number has been used with another name.

2. Check the child s credit reports.

Adults and minors older than age 14 can request free credit reports once per year from AnnualCreditReport.com or by calling 877-322-8228. Check your child s credit reports using his or her Social Security number. If no reports exist, the child s credit has never been used. This is an indicator that all is likely well.

3. Understand when a child might have a credit report.

Some minors legitimately have a credit report. In many cases, this is because parents have added a teen as an authorized user on a credit card account. Other minors may be joint account holders or have a small bill, such as a cell phone, in their names. In these cases, having credit reports is valid. Still, parents or guardians and teens should review the reports together to make sure they do not contain inaccurate information or errors. If you do spot an error, report it to the credit bureau in writing and request a correction.

4. Keep Social Security numbers secret.

Do not share your child s Social Security number, even with family members. If you receive information that any relevant data such as tax return, school or health insurance information has been exposed in a security breach, take necessary precautions with your child s information as well as your own. If you are asked for a Social Security number for identification purposes, ask if you can use only the last four digits, or see if you can identify the child in some other way.

5. Be especially careful regarding foster children.

Foster children are especially at risk of identity theft. This is because their information passes through many hands. Sadly, these children face even greater challenges if their identities are stolen. Fortunately, in 2011 Congress passed legislation requiring child welfare agencies to help foster kids check and repair their credit when they turn 16.

6. Handle fraud or identity theft quickly.

If you believe your child is a victim of identity theft, respond quickly. Contact each of the credit bureaus to report the fraud. Tell at least one of the credit bureaus to place a fraud alert on the account (one company will contact the others). You also should file a fraud report with the Federal Trade Commission (FTC) online or by calling 877-438-4338.

7. If a child already is a victim, consider a credit or security freeze.

A credit freeze shuts access to an existing credit file, making it impossible for anyone to open a credit card or loan using a Social Security number. If a child is a fraud victim, parents may opt to do this. You need to arrange the freeze individually with each credit bureau. See more details from the Identity Theft Network .

In addition, it s possible in some states for parents to proactively do a credit freeze for any child. If the child has no credit file, in these states, the credit bureau would create a file in order to place a freeze on it. Currently, legislatures have made these credit freezes available to parents or guardians in about 20 states. Be aware, however, that there is a downside to this option. Should someone try to apply for a loan using a child s stolen (but unfrozen) information, the lender will be informed that there is no credit history, and the applicant is a minor. This could result in the fraud being reported, and perhaps the thief s capture. With a freeze on the account, the lender would never be informed of attempts to use the number.

Fortunately, most children will avoid identity theft. For those who are victimized, the best defense is catching the situation early. By reporting the fraud, you can help salvage the child s credit profile in time for grown-up responsibilities such as a job application, student loan or car loan.

Andrew Housser is a co-founder and CEO of Bills.com. a free one-stop online portal where consumers can educate themselves about personal finance issues and compare financial products and services. He also is co-CEO of Freedom Financial Network, LLC providing comprehensive consumer credit advocacy and debt relief services. Housser holds a Master of Business Administration degree from Stanford University and Bachelor of Arts degree from Dartmouth College.