Shopping for Loans
Secured loans are loans that are tied to a source of collateral. Learn more about secured loans.
Refinance Mortgage Rules
Many people wonder about the right time to refinance a mortgage. There is additional expense involved in a refinance, and it is important to consider the closing costs against whether or not you should refinance your mortgage. There are also specific refinance rules that you should follow. A refinance can save you money, lower your monthly...
Should I Turn Unsecured Debt to Secured Debt?
When you are consolidating your debt, you need to carefully consider how you are moving your debt around. Moving it from credit cards to a home equity loan can put your home at risk. Learn what you can do to protect your home.
What Is the Difference Between a Home Equity Line and a Second Mortgage?
If you are considering taking out a second mortgage for home repairs, you may also be considering a home equity line. These are two different types of loans, but both of them use your home as collateral. Learn what the differences are to determine the best option for your situation.
Should I Get a Second Mortgage?
A second mortgage is an additional loan that uses your home as collateral. When you take out this loan, you may be putting your home at risk. Learn whether or not you really need a second mortgage.
What Is a Home Equity Loan?
A home equity loan is a line of credit linked to your house. You can use it, pay it off and use it again. Learn about the benefits and risks of this loan.
Should I Take Advantage of an Interest Free Car Loan?
Many automobile manufacturers are offering interest free loans on new car purchases, but is this really a better deal than buying a used car with a traditional loan. The answer may surprise, because you need to take into account the car depreciation rate as well as any interest you may pay on the loan.
Shop for a Car Loan
You can save money by shopping for a car loan, the same way you shop for a car. You should check with your bank and credit union to see if you can get better terms than they offer you on the lot.
Finding the Best Payment and Loan Options for Your Mortgage
There are many different mortgage options available to you. When it comes to choosing the right mortgage term and payment options, you need to assess the risk involved in each of them. You should carefully consider the loan offers that you receive. You should determine how much you can afford monthly, while including the cost of your taxes and...
Interest Only Mortgage
An interest only mortgage payment option can lower your monthly payments, but delay paying on the principal of the loan. This can add years on to your loan and you will end up paying more interest over the life of your loan.
Private Mortgage Insurance (PMI)
Private mortgage insurance is designed to protect the lender from the buyer defaulting on a loan. There are ways around PMI, but you need to carefully consider these options.
Fixed Rate Mortgage
A fixed rate or traditional mortgage allows you to lock in your interest rate on your loan. This prevents your mortgage payment from rising. It is the safest type of mortgage to choose.
Adjustable Rate Mortgage (ARM)
An adjustable rate mortgage (ARM) is a mortgage in which the interest rate will adjust after a certain period of time. The interest rate can adjust more than once during the length of the adjustable rate mortgage
Payday Loan Prevention
Payday loans market themselves as a quick and easy solution when you run short on cash, but it is too easy to fall into a cycle where you cannot get buy without taking one out. The high fees will begin to eat into your budget and make it difficult to get ahead.
Should I Roll My Old Car Loan Into My New One?
It is generally not a good idea to roll your car loan into a new one. This can make it difficult to mange your car payment, and you will end up owing more than you car is worth. Learn what you should do before you make that decision, and other options available to you.
Should I Get a Loan from a Loan Store?
Using a loan store may be a last resort when you need quick cash. However, you need to understand exactly what you are getting into before you take out the loan. Learn what you need to know before you make the decision.
Shopping for a Loan with Poor Credit
When you have poor credit, it can be difficult to qualify for a loan. This can be stressful, especially if you need the money right away. Learn some options that may make finding a loan easier and some alternatives to borrowing money.
Before You Borrow Money
You need to determine if you can afford to make the monthly before you take out a loan. Learn the steps you need to take before you take out a loan.