construction loan

How Does a Construction Loan Work?

A construction loan is designed for individuals and businesses that intend to build their own property instead of buying an established building. Unlike the traditional mortgage loan where the lender gets the home itself as collateral and a guarantee of not losing the money, a construction loan is much riskier. First of all, due toContinue reading

Renovation Loan

What is 203k Renovation Home Loan and how does it work?

FHA 203k loan is designed to finance the needs of homeowners when it comes to buying an old, damaged or even “inhabitable” house. Obviously, an old house costs much less than a brand new one but the flip side of it is that this abode can eventually cost an owner much more due to massiveContinue reading

сredit score

Everything you need to know about credit scores!

A credit score is the key parameter all lenders evaluate before making a decision about a loan approval. It is important for banks to know whether the client is trustworthy enough in terms of his solvency, reliability and financial stability. A credit score is a financial “passport” saying about the borrower everything, based on hisContinue reading

Business Loan

How do balloon loans work?

Balloon loans are, basically, any type of loans with a special system of payments, called “balloon”. Mortgages and car loans are the most common loans with a balloon payment and it has several reasons why. Balloon loans can be a highly beneficial alternative to traditional loans as it has a special structure of payments thatContinue reading

PersonalLoans

Personal loan or Car loan?

You can’t lead an active lifestyle in a modern world without a car. The huge and never-ending demand made car loans the second most popular type of loans in the USA. There are dozens of sub-types for car loans with a variety of terms for borrowing money with the purpose of buying a vehicle (whetherContinue reading

Unsecured Personal Loan

How to Get an Unsecured Personal Loan With a Bad Credit?

Is bad credit a reason to give up on getting a loan? No, it is not if you are about to take an unsecured personal loan. You can get no options when you need a mortgage as that is usually a big deal demanding at least tens of thousands of dollars, but if you haveContinue reading

Personal loans

Everything you should know about a personal loan

A personal loan is the most common type of loans for individuals in the USA. Millions of people opt for personal loans for whatever needs: purchasing goods and travelling, studying and medical treatment, buying vehicles and refinancing existing loans. Unlike, for example, mortgage loans, personal loans do not have a specific purpose, so a borrowerContinue reading

Private Parent loans

The most important things you should know about Parent loans for students

When comes a time for children to go to school or college, parents often opt for a loan that covers the cost of the tuition fully or partially. There is a reason why parent loan is the best option in certain circumstances. The bill for college includes not only the tuition itself but the costContinue reading