Archive for the ‘Loans’ Category

When you’re ready to apply for a mortgage loan, it’s always a good idea to find all the necessary documentation you’ll need before you even begin. Whether you’re applying for your mortgage loan online, over the phone, or in person, being prepared with the right paperwork can help to speed up the process. Although some […]

    You’ve just been pre-approved for a mortgage and you’re one step closer to being a homeowner—congratulations! While it’s certainly an exciting time, it’s also good to be prepared for what happens once you have your mortgage and begin to make payments. Your credit was likely good in order to obtain the home loan to […]

If you’re serious about buying a home, you may be ready to apply for a mortgage. Before applying for your home loan, though, it can be beneficial to know about the different options available. Depending on your individual circumstances, a traditional mortgage may not be right for you. Although there are a lot of different […]

    For some people, taking out a loan may be necessary to fund an expensive purchase, or it may be used as a last resort during a financial crisis. If you’re thinking about taking out a loan, you may want to avoid the following types of loans, which can be risky.  Refund anticipation loans If […]

Taking out a mortgage is a huge decision, and with all the different options out there, it’s not one to be taken lightly. Although an FHA home loan can be a good option for some homebuyers, it is also important to take some of the following disadvantages into consideration: Qualifying Even though it’s easier to […]

  Loans are either unsecured, or secured by the borrower’s collateral. Collateral is sometimes needed for loans as assurance that the loan will be paid in full—if not, the lender will have the legal right to seize the assets that were used as collateral in order to sell them and use the money to satisfy […]

You may have heard about refinancing your mortgage for a better rate, but did you know that you could do the same for your car loan? Although the process and the terms are much less complex, not all borrowers will necessarily benefit from refinancing a car loan.  Before refinancing your car loan, determine if you […]

A traditional mortgage term is usually for 30 years, but did you know that instead of the conventional 30-year fixed-rate mortgage, you can instead opt for a 15-year fixed-rate mortgage? A 15-year fixed-rate mortgage isn’t for everyone, but it may be the ideal home loan choice for you. Be sure to consider the various positives […]

With the average college graduate leaving school with approximately $26,000 in student loan debt, it is no wonder that it takes so many years to finally pay it all off. A tremendous amount of debt to pay back can be a burden for anyone, but it can be particularly stressful for young adults who are […]

A jumbo mortgage is a home loan for property that equals or exceeds $417,000 (in Alaska and Hawaii, a loan is considered jumbo if the borrowed amount is $625,000 or more). The maximum amount you may be able to borrow under a jumbo loan will vary by state. For many homebuyers, a jumbo mortgage is […]