Discount Mortgage Points

Pros and Cons for Mortgage Points

In this article we are going to disclose the essence of mortgage points. There are two types of mortgage points – discount mortgage points and origination points. Discount mortgage points are designed to decrease payments for interest. One point is a discount of 0.25% for the basic interest rate. You can purchase maximum 3 pointsContinue reading


What Debts to Pay Off First?

This is the question you should answer if you have several debts. Having several debts may include mortgage, car loan, student loan, credit card debt or any other kind of a debt you may have. Usually, debts for the most important things that provide you with living and education are available with a relatively lowContinue reading


Benefits and Risks of Cosigned Loans

The best way to get a bank loan is to have a high credit report. It includes numerous factors like your income, expenses, previous debts and how you closed them – all of these factors are analyzed by the bank to define your credibility. And the higher the credit score is the more funds youContinue reading


How to Remove Your Name from Cosigned Loan Agreement

The essence of cosigned loan agreement is the fact that you guarantee that other person’s debt will be payed off either by him or you. It is a huge responsibility and usually someone asks about this as a favor. In most of the cases it is impossible to remove your name from the agreement andContinue reading

taking loan

Tips for Getting Your Bank Loan Approved

When requesting a loan you need to make sure you apply to the right bank and have accomplished all bank’s demands. The thing is banks do not know a thing about you unless you have a clear credit history or an opened bank account (or even several), so below you can get a number ofContinue reading

203 (h) Loan

Taking a Loan to Recover Your House After Disaster

In some cases insurance doesn’t cover full recovery of your house in case it suffered in disaster. For such a case you may need to take a loan to fix damage. You can take a bank loan or you can use more efficient ways to deal with this issue. There are programs developed by governmentContinue reading

p2p lenders

Peer-to-Peer Lending as an Alternative to Bank Loans

Taking a loan in a bank can be tough. In order to get your loan approved your credit history and financial statements need to fit bank’s standards. And although most of the banks have common standards for debt approval (they vary insignificantly) there is still a probability that you won’t fit those and fail toContinue reading

Bad vs good

Good Loan vs Bad Loan – How to Discern?

Loan is a part of a person’s life nowadays. We take loans for education, purchases, business and other purposes. However, there are always good loans and bad loans. Let’s consider features of good loans: it improves your financial position; payments for debt interest correlate appropriately with your income. Now let’s consider features of bad debts:Continue reading