
	Your Personal Finance Magazine	Finances ~ Banking ~ Investing ~ Financing ~ Credit Cards ~ Insurance

You are here: Home: Financing: Homeowner loan

Saturday ~ July 27 ~ 2024

Category: Financing

Homeowner loan

Why choose a homeowner loan ...

The latest articles

Making money on the side with a model job
Working as a model is the perfect way to make some money on the side with a part-time job that does not require … more
Category: Finances

Incoming insurance for foreign guests and visitors to Germany
In the event that foreigners visiting Germany, Switzerland and other Schengen countries are taken ill, the medical costs can be covered by an … more
Category: Insurance

Saving money on your grocery bill
Many people pass over the coupon pages of the Sunday newspaper without even giving it a thought. If you found a dollar bill … more
Category: Finances

The Rent-to-Own Trap
You see a TV set at the rent-to-own center that you like. It's a big-screen version, complete with high-definition capabilities and a remote … more
Category: Finances

With the rising cost of inflation and the appreciation of property across the country, procuring a Homeowner Loan for a large sum of money is a smart idea. Even when still paying off a mortgage, the average homeowner will usually have enough equity to obtain the money needed for things such as debt consolidation and home improvement. Why obtain a Homeowner Loan or secured loan other than an insecure loan? There are many reasons.

One of the first reasons is that even if the consumer's credit history has a few black marks, they will still usually be approved for a Homeowner Loan because it is secured based upon the property's value. Yes, this may mean that if payments lag the company can put a lien upon the property. However, to further improve the security on a Homeowner Loan, the homeowner can then purchase loan protection products. These programs are similar to insurance in the effect that if the homeowner becomes ill or loses his/her job, the protection company will pay back the loan for a select amount of time. If the consumer does have a bad credit history, it may become harder to procure such a loan. It is important to note though that different companies have different guidelines.

Interest rates on Homeowner Loans are low as well. They are usually set at a varied rate, but interest can also be negotiated at a set rate if so desired. The pay-off period on a Homeowner Loan can be anywhere from 5 to 25 years, giving the consumer more time to pay. This means that the payments will be low, allowing the consumer to pay off more per month than the minimum payment, therefore further decreasing the interest rate and having the entire amount paid off faster. Keep in mind, however, that if the consumer's credit history isn't perfect, the interest rate may slightly increase.

A wise man once said that having property is the key to wealth. Even if the consumer's interest isn't to become wealthy, a Homeowner Loan could greatly improve the homeowner's life and well-being. However, always remember to research companies well before choosing one to obtain the loan with and make sure the interest rates are negotiated. A Homeowner Loan is one of the safest, securest loans available today. (don)

Bookmark

Average rating: 10 of 1 votes.

------------------------------------------------------------------------------------------------------------------------------------

More articles in category Financing:

Mortgage cost
Your mortgage cost is going to depend on several things: the amount you borrow, the interest rate you are offered, your annual percentage rate (APR), and the length of your mortgage. Before you shop for your new home, it is important for you to decide how much of a monthly … more

Raising your credit score
The better your credit score and overall creditworthiness, the more likely it is you'll qualify to buy the house of your dreams. You can help yourself for the future by following these steps to make yourself look better. Start now. Don't wait until you decide to start looking for a … more

Legitimate online lenders
Financial lenders and mortgage brokers alike have extended their reach to the Internet in an attempt to offer and provide mortgages and loans to those who need them. How can you tell if an online lender is legitimate though? At least you can trust your senses and gut instinct when … more

How to avoid foreclosure
A mortgage is something that most adults look forward to having at sometime during their lifetime. Along with the pleasure of owning a home, there is the immense responsibility that goes beyond the actual upkeep of the home. There are the actual payments that must be made to the mortgage … more

Managing a mortgage
In years past, mortgages were thought of as a means to an end. It was simple – secure a mortgage, make payments for 30 years, and own your home free and clear. At the time, 30-year fixed mortgages were the only option available to homeowners. But as the times have … more

Which mortgage is better?
Which is better? An adjustable rate mortgage (ARM), fixed rate mortage (FRM) or a hybrid of the two? Adjustable rate mortgages start out with an interest rate that is significantly lower than available fixed rate mortgages. After the first year, ARMs can go up or down depending on prevailing interest rates in … more

Your personal finance magazine at Porias.com
Finances ~ Banking ~ Investing ~ Financing ~ Credit Cards ~ Insurance	Copyright © 2005- Porias.com ~ All rights reserved