When you pay down the mortgage, you get more equity over your home. This leaves you enough space to get HELOC. In some cases, it is better to avoid this crediting type and go for alternatives. These are the situations in which it is better to avoid it. When should […]
While both terms might be used in the same context, there is a clear difference between them. A home equity loan is a loan in addition to the mortgage. This type of loan uses your home as collateral. The lender approves a lump sum, which you need to return based […]
Unlike other types of loans, a personal loan doesn’t require you to justify and explain the purpose. You take your money and spend it on whatever you like. However, this can result in overspending and accumulating debt. In which cases is it better to get a personal loan? Situations in […]
Getting approved for a mortgage isn’t simple. You need to undergo a screening process, where lending companies and institutions will assess your lending power. In addition, we suggest a few ways to secure your approval. Credit score Before you apply, check your credit score. If there are any errors, make […]
We already discussed the pros and cons so that you can make the right decision. Are there any hidden tricks that you should know? Don’t consider the interest rate only When you are looking for offers from different mortgage companies, all of them will try to trick you with low-interest […]
When we already explained the advantages, are there any downsides of getting a mortgage? In this post, we go through the disadvantages so that you can make a final decision based on your needs. You pay more Probably one of the significant disadvantages is the fact that you will end […]
A mortgage is a type of loan specially designed for buying a home. It can help you buy your dream home without having savings on your account. This method of financing brings so many benefits for you. Buyers are pretty flexible with disturbing the payments over the desired number of […]
This enables you to use your home as security for your loan. The loan amount you’re eligible for depends on the equity you have on the property. However, a major downside is that you stand a chance of losing the property if you don’t go through with the loan payments.
A credit union is a financial cooperative that is run by its own members. There are different types of credit unions to suit a borrower’s needs, whether it be corporate or personal. The public tend to trust credit unions more than they trust the banks, and in many instances, interest rates aren’t as high.