Financial Contract Tip: Before you sign any agreement or contract which obligates you financially, be sure to fully read all the terms and conditions and to ask questions until you fell absolutely comfortable signing. Never under any circumstance sign a blank (unfilled) contract. Some sells and service providers may require to sign a blank document after telling you that the information and billing items will be added later. That's a definite clue to not sign. Once you do sign, demand a copy of the signed document, so if the company later adds other items and expenses to the contract you can refute those.
If the contract is to include any warranty or service coverage, ensure those are spelled out in detail, as well as the term (length) with start and stop dates so you can hold the
company liable for fulfillment.
Mortgage Refinancing and Equity Options:
Use your home as your personal loan resource. Apply for a low interest 2nd mortgage loan. A home equity loan can be used to pay for home remodeling to improve your home's value, or as a debt consolidation loan to payoff bills and get rid of high interest fees or to buy a boat or RV or to go on vacation.
Before you apply for 2nd mortgage refinancing, use our mortgage refinancing calculator to calculate the new long term monthly payments. In addition to providing money that can be used as an unsecured debt consolidation loan to payoff bills, a mortgage refinance loan can be used for any reason.
Learn about a joint mortgage loan, the benefits of a reverse mortgage and the options for a nonhomeowner debt consolidation loan.
Get all the facts and carefully review the terms and conditions before you submit your mortgage refinancing application. Browse for more mortgage refinance resources.
Reverse mortgage - Information about the benefits of a reverse mortgage.
Home equity loan - Refinance your first mortgage and take cash out at closing.
Home remodeling loan - Use your home's equity to finance a remodeling project and increase home value.
Mortgage refinance loan - For a home equity line of credit, you may want to think about a traditional second mortgage loan.
Mortgage refinancing - Read the benefits of mortgage refinancing.
Mortgage refinancing calculator - Calculate your new mortgage payments.
2nd mortgage loan - Equity cash loan, debt consolidation, remodeling and other uses.
2nd mortgage refinancing - Apply for a lower interest rate and/or lower payments.
Mortgage Refinancing Advice
Mortgage Foreclosure Assistance
Homeowner Financial Assistance
Mortgage Loan Payoff
Free Tips to Prevent Foreclosure
Mortgage Equity and Mortgage Bankers
Equity for Retirement
Home Remodeling Loan
Reverse Mortgage Loan
Home Remodeling Loan
Home Equity Loan
2nd Mortgage Loan
Affordable Refinance Program (HARP)
Mortgage Loan Pros and Cons
Mortgage Personal Loan Versus Credit Line
Mortgage Loan Benefits Pros and Cons
Mortgage with Bad Credit
Good or bad credit auto loan quote. Apply for a new or used auto loan, or for car refinancing.
Credit Card: Search for a gold rewards or a bad credit card. To rebuild credit, get an instant approval credit card. Browse unsecured platinum and guaranteed credit card offers.
Credit Report: Free credit report help to fix credit report errors and improve credit score ratings.
Debt Counseling: Nonprofit credit counseling, unsecured debt consolidation or free debt settlement.
Free Credit Offers: Get no obligation credit offers and receive alerts and tips to manage personal finances.
Home Loan: Stop paying rent and live the American dream.
Payday Loan: Get a good or bad credit unsecured loan with no credit check and no collateral.
Personal Loan: Short or long term personal loan.
Personal Finance: Create a personal budget, balance a checkbook, file bankruptcy and more.
Free Help: Personal finance newsletter, credit advice and tips.
Interest rates: National averages of credit card, mortgage, refinancing and auto loan interest rates.
Mortgage Modification: Should your income decrease and/or financial obligations increase such as due to medical bills, you may qualify for a mortgage modification. Many lenders have several loan modification options available including the government's Home Affordable Modification Program, or HAMP.
Apply online for a home remodeling loan. Get a free equity loan quote from multiple lenders and see if
you qualify for the lowest home improvement loan rate.
New Home Loan
ReFi, 2nd Mortgage, Equity
Don't qualify for a home remodeling loan?
Easily reduce bill payments
Stop harassing creditor calls and collection agencies
Unsecured debt consolidation or debt settlement quote.
debt consolidation or debt settlement
A government home remodeling loan is limited to a maximum loan amount of $12,000 per family unit. But with the Credit Federal network, you can get a home improvement loan for up to $100,000 or more.
The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements. "Lending institutions make loans from their own funds to eligible borrowers to finance these improvements."
The Title I program insures loans to finance light or moderate home remodeling, as well as the construction of nonresidential buildings on the property. This program may be used to insure such loans for up to 20 years on either single- or multifamily properties. The maximum loan amount is $25,000 for improving a single-family home or for improving or building a nonresidential structure.
For remodeling or improving a multifamily structure, the maximum loan amount is $12,000 per family unit, not to exceed a total of $60,000 for the structure. These are fixed-rate loans, for which lenders charge interest at market rates. The interest rates are not subsidized by HUD, although some communities participate in local housing rehabilitation programs that provide reduced-rate property improvement loans through Title I lenders.
FHA insures private lenders against the risk of default for up to 90 percent of any single home remodeling loan. The annual premium for this insurance is $1 per $100 of the amount advanced; although this fee may be charged to the borrower separately, it is sometimes covered by a higher interest charge.
With a home remodeling loan you can get cash to fund your house's improvement plans.
There are two primary types of home improvement loans; 1) those that use the equity in your home and 2) those that require a down payment.
Home loans using home equity as collateral are the most common and offer the biggest loan amounts, but lenders are looking for homeowners to retain a 15% equity stake after the loan. This means you'd need a fairly large amount of equity in your home to qualify.
Your other option is to pay a down payment rather than use the equity in your home as collateral, but if you donít want to tie up equity in the home, youíre looking at a much smaller loan with a higher interest rate.
When looking for equity financing, your current mortgage lender may not be the best choice. To get the best deal, comparison shop with several lenders including your mortgage company.
Typically to qualify for a home improvement loan you'll need a good credit score and enough monthly income to comfortably pay for all of your debts, including the additional loan payment.
If you choose to use your home's equity as collateral, the lender may require an appraisal of your home. The lender will use the appraisal amount and your mortgage terms to determine how much equity you have in your home and what the home is worth to the lender.
Regardless of bad credit or no credit, our multiple lenders want to offer you a home remodeling loan at the lowest interest rate possible. Applications accepted from all credit types.
Learn more about home mortgages, and read our articles related to a home remodeling loan.
Can I get a loan without a job? Yes, as long as you have some source of income. For example, if you are receiving retirement benefits many lenders will consider that income like any other. Another source of income without employment is recipient annuity payments. Lenders don't always insist on active employment in order to receive a secured or unsecured loan, they are mainly interested in your ability to repay the loan. As long as you have an income source, you may be approved for a loan without work verification or credit checks. But how do I calculate what I can afford in a monthly loan payment when on a fixed income? Use our free simple loan calculator to see how much money you can borrow based upon your ability to repay the installments.
Personal loan for the weekend: Whether you want to take a mini-vacation, repair your car or need money for the weekend for any reason, a fast personal loan may be right for you. Whether you need a short term loan or a longer term loan with monthly installments, the way to get the fastest loan possible is through a lender who has no credit check requirements. Credit checks can be time-consuming and are less likely to provide funds urgently. Other instant unsecured personal loan benefits include no cosigner and no collateral, in addition to no credit report review and no references required.
It could be difficult to get a second mortgage with bad credit, as well as trying to get a conventional mortgage. It can also be costly. With the shape of the economy, interest rates have been lower than years before, yet they will usually be higher for people with awful credit. Many consumers have taken advantage of lower rates and applied for a second mortgage, even those with blemished credit.
When a first mortgage is compared to a second mortgage, the rate for a second mortgage will be more. It would not matter if the person has great credit or bad credit, it is typically higher. Second mortgages may still be available with rates around 5% or higher, shop around and compare lenders to get the best loan. Sub prime lenders may extend a second mortgage loan to those with shaky credit, but they will pay more in interest fees. Offering a second mortgage is risky for lenders, so they will have higher rates.
Lenders may offer second mortgages to people with scores of 649 and less, it depends not only on scores, but the risk level. Rates can vary up 12 %. Consider waiting to apply with a lender until you shop for the lowest possible rate. To get started, you may have to tell your income, the value of the home, and your credit score before a rate could be quoted. It may not be a good move to take a second mortgage to pay off the first, as the rates on second mortgages are always higher. Consider talking to a person who can give some tips and advice about mortgage loans. If you default on a loan, you could lose your home in a foreclosure. Therefore, never rush into making a huge financial move without considering all that is involved and possibly talking to a financial advisor.
Equity is the difference between what is owed and the market value of a home. A no equity loan means that a borrower may be able to take out a loan even if there is no difference between what is owed and the current property value. A no equity loan, may be referred as a 125 second mortgage which means that a borrower may be able to get a loan up to 125% of the property value. These loans are considered risky and rates are determined by credit scores. The money can be used for anything, for example, paying off debts, improving the home, paying for college, the reasons are endless.
Many homeowners use a no equity loan or second mortgage to pay bills. The great thing is that the interest may be tax deductible, but consult a tax accountant to be sure. When homeowners may not have accrued equity, a 125 second mortgage can be one way to lower monthly payments and pay debts. It is easy to apply for a quote, using online resources, to get information about this option. It is fast and without obligation. A loan officer reviews the information and contacts the applicant. An alternative to a home loan could be a short term loan of up to $1500, this is a loan option when a borrower is not a home owner.
An example of a home equity is if a home is worth 80,000 and $60,000 has been paid. The difference is $20,000 which is how much equity there would be on the home. A home equity loan is also called a second mortgage. This is an installment loan for a certain amount of money to be repaid by a specific date. The borrower would have a scheduled monthly payment. A home equity line of credit or a HELOC, is money that can be used when needed. Interest is paid only on the amount that is used, not the entire line of credit. Payment requirements can be flexible on home equity lines of credit. Both home equity loans and home equity lines of credit are mortgage loans, and a lender has the ability to foreclose if payments are not made.