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

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

Subprime Loans

What Do You Need to Know About Subprime Loans?

Subprime loan definition was made up after crisis that took place in 2008 and since then it was used to describe “high risk” loans. For now the majority of debts made are stated to be subprime. Subprime loan characteristics: borrower has low credit high interest rate low repay rate Borrower Has Low Credit Usually thatContinue 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

cost

What affects the cost of a loan?

The cost of the loan is the main thing everyone pays attention to when borrowing money. Yet, the majority mistakenly assumes that the cost of the loan equals the interest rate. It turns out that the total (the final) cost of a loan is comprised of several elements along with the interest rate. Each elementContinue 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

Student Loans

Types of Federal Student loans explained

When it’s time for college or University, many parents face this milestone with a headache as tuition costs a lot and often there is no other way than just to get a loan. Luckily, Student loans are offered in a big variety of forms so one can choose the most convenient and beneficial one basedContinue reading

 loan

Five steps to becoming an expert in loans

You will hardly find a person who was never thinking of getting a loan, as modern life dictates the terms where most of the things revolve around money. You get married and get a loan for a house, you send your children to college and you get a Students loan and so on. Knowing howContinue reading