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The Impact of Various Loan Types on Your Mortgage Application

These days, many aspects influence your mortgage’s application. Your credit score is the most important. There have been numerous articles on credit scores and the factors that affect them. You can leverage other loan types to boost your chances of a favorable mortgage from a Salt Lake City lender like American Loans. Three loan categories have a significant impact on your mortgage application. Student Loans These...

The Wise Move when Deciding on a Loan Amount

Getting a mortgage pre-approval before shopping for houses is always a smart move. Apart from finding out the amount of loan you can borrow, this also prevents you from looking at homes beyond what you can comfortably afford. You should know, however, that with a pre-approval, you’d know the maximum amount the lender is willing to let you borrow. If you’re preapproved for a loan that is larger than what...

Is the Popular Home Loan Choice Right for You?

The 30-year fixed-rate mortgage has long been a popular choice for many American home buyers. While choosing this loan means paying back the mortgage in a longer time frame (for 30 years), it comes with a lower monthly payment that appeals to many buyers who can’t afford the proposed monthly payment for a 15-year fixed-rate loan. If you are thinking of choosing a 30-year fixed-rate loan, it only pays to learn...

Funding the Community: Individuals Welcomed by Credit Unions

If you think that credit unions aren’t for everyone, think again. It’s a common misconception, but all individuals are eligible to benefit from a credit union. You have to file a loan application and get involved in the community. After all, credit unions are financial institutions run by the members of a community to benefit other members who need funding. Seniors According to unions handling housing...

Top Things to Consider when Creating a Budget for Moving

Various expenses are an inherent part of moving—some costs you could plan for while others might surprise you. It’s vital that you plan well so that you could stay on top of your moving budget and your timeline. Here are some important things to take into account when creating your budget: Choose How You Want to Transport Your Belongings Do you want to do everything DIY style or hire a professional mover?...

Comparing a 30-year Mortgage with a 15-year Loan: Which Is Better?

A 30-year mortgage has a lower monthly payment than a 15-year mortgage. Conversely, the shorter home loan has a lower interest rate than the longer mortgage. Best of Both Worlds According to VIP Mortgage, mortgage expert in Tempe, some borrowers seek to enjoy the best that each kind of mortgage offers. Instead of committing to 15-year home loans, they take out a longer mortgage. They then speed up the payments...

Have a Hard Money Lender on Speed Dial — Here’s Why

If you play your cards right, investing in the real estate market can be your ticket to great wealth. In addition to having an excellent strategy, you need the ability to cash in on opportunities as they arise, residential hard money lenders in Florida note. That means you need access to capital at the drop of a hat. Sometimes, the speed at which conventional lenders move, or their stringent conditions, can...

The Lowdown on TIC Property

TIC property is a tenancy in common. This means more than one person will own the property. Each one will have a share in the property. The size of the share will depend on how much money the co-owner will put in to buy the property. The size of the share will also affect how much each co-owner pays for taxes, and how much each one will receive in profits. It is not the same as joint tenancy. In a TIC, when...

Why Some Auto Loan Borrowers Pay for More Interest than Others Do?

An auto loan may be a bad debt, but it’s nonetheless a necessary, and therefore practically unavoidable, one. A vehicle (new or used) isn’t an investment as its value drops significantly after driving it off the lot. However, you can’t have it because it’s perhaps the most reliable mode of transportation to go to work or run errands. The real problem, though, is that many South Carolinians buy...

Build Your Creditworthiness With 2 Simple Moves

Qualifying for the best mortgage rate can save you tens of thousand dollars through the loan’s life. It is necessary to understand your lender’s needs and be sure to fulfill them to enjoy a better deal. Mortgage lenders are in the business of lending money and losing out on their investment is not an option. You must prove to your lender you can service your loan before they can approve your mortgage...