While looking for a home loan, you may have noticed interest rates can vary widely among different financial institutions. Understanding a little about how these places calculate mortgage interest rates can help you make a more informed decision.
Your Three Main Lending Options
In general, there are three main categories of lenders out there for individuals seeking a home loan.
1. Commercial banks and credit unions
Your bank, credit union, or other retail banking entity is probably one of the first places you considered for a home loan.…
If you’re finding yourself with a minor financial shortfall, you may be wondering whether it’s better to open up a credit line or get a personal loan. Credit lines and personal loans are both valuable financial instruments, but they have different advantages and disadvantages. Here are some things to consider.
Cost: Interest Rates and Origination Fees
In general, a credit card will usually be the more expensive option over time. Credit cards have rates ranging from 10% to 20%, whereas personal loans usually start below 10%.…
Having bad credit makes it difficult for you to secure a personal loan, but it does not make it impossible. Here are three tips that will help you get a personal loan even if you have bad credit.
#1 Include Accurate Information
When you fill out the application for a personal loan, it is important that you include all the right information. For example, make sure that you put down the right address, place of employment, and income.…
There is nothing more disheartening than seeing the balance in your bank account and knowing you simply can’t pay all your bills this month. If your credit isn’t high enough to receive a traditional bank loan, you might feel stuck and very alone. However, there are ways to get much-needed funds even with bad credit.
Personal Installment Loan
A personal installment loan is an unsecured loan from a lender such as a credit union, financial institution, or a bank that you make payments in installments on.…
If you are looking for a new investment vehicle and you aren’t risk averse, angel investing may be the thing for you. An angel investor is someone that provides the seed capital for a startup venture. This is typically done in exchange for ownership equity, although the terms can vary. The following tips can help you get started wisely if this is something that interests you.
Tip #1: Have liquid cash…
