One of the first things a lender is going to ask you when you apply for a home loan is whether or not you own any collateral. Collateral is property or other assets that you own that you can use to offer the borrower as security for repayment of the loan. Having more collateral can […]
Types of Short Term Financing Loans
Short Term Financing Short term financing refers to financing that you obtain for usually a year or less. The intent of this financing option is to help you cover your immediate short term financial obligations. Short term financing is often used when people are buying a new home, and have yet to sell their current […]
What is a Debt to Income Ratio?
Buying a home is a big step. It can also be a long and tedious one. The home loan process requires conquering a multitude of hurdles. However, the end result is well worth the effort. To acquire your dream home, your mortgage lender will look at a wide range of factors. One such component examined […]
Funding Energy Efficient Home Improvements with a Mortgage
Creating an energy efficient home can be beneficial for a number of reasons. As most people spend the majority of their time indoors, comfort is crucial. By implementing energy efficient measures, you can improve indoor comfort by better controlling air, heat, and moisture throughout the home. Energy efficient buildings also use less energy and cost […]
VA Home Loan Eligibility Requirements
Veterans Affairs mortgages, otherwise known as VA loans, are available to help veterans acquire financing for a home. Unlike traditional mortgage loans, a VA home loan requires no down payment. These loans are made through private lenders and are backed by the Department of Veterans Affairs. This means that there is no minimum credit score […]
What Is a Home Equity Loan?
Looking for the best way to consolidate your debt or pay for major expenses? Then look into a home equity loan. A home equity loan is a common type of loan or line of credit that involves the borrower using his or her home as collateral. The amount of money a person is able to […]
How Do Debt Consolidation Loans Work?
Managing multiple debts can be challenging. Debt consolidation is designed to make managing your debt a little easier. In short, a debt consolidation loan rolls multiple debts into one single payment. While debt consolidation can be useful in a wide range of situations, it is particularly favored by borrowers with high-interest debts, such as credit […]
What Is the Best Mortgage for My First Home?
Buying your first home is likely to be one of the most exciting times in your life. However, the financial commitment it takes to invest in a home can be nerve-racking. Fortunately, many lenders offer first time home buyers a variety of home loans designed to make the home buying process simple and affordable. Remember, […]
Should I Take Out a Loan for Home Improvements?
Home improvements offer far more than just aesthetic value. They can also make a space feel more comfortable, safe, and energy efficient. Certain home improvements can also have a positive impact on your home’s value, allowing you to up your property cost when you go to sell. While there is no denying the benefits of […]