[ad_1] Key Takeaways A joint personal loan is different from having a guarantor or a co-signer, in that the joint borrower has access to loan funds. You might have a better chance of being approved for a joint personal loan – and perhaps even score a lower interest rate – but there are also risks…
[ad_1] Key Takeaways Besides taking out a mortgage, your best bet for homeownership is to buy a house in cash. Less common mortgage alternatives include rent-to-own agreements and owner/seller financing. Both rent-to-own and seller financing come with their fair share of risks compared with a traditional mortgage. Taking out a mortgage can be an obstacle…
[ad_1] Key Takeaways: There are many reasons why an underwriter may deny your mortgage loan, such as a low income, an unsatisfactory credit history or a recent change in employment. If an underwriter denies your mortgage loan, try going to a smaller lender or addressing the issues that caused the denial in the first place….
[ad_1] Key Takeaways: Rent-to-own deals let a buyer rent the home for a time before committing to the purchase. Whether the deal is a lease option or lease purchase agreement affects the level of commitment. Both buyer and seller must watch out for risks that come with this type of arrangement. What if renting actually…
[ad_1] Key Takeaways It’s possible to pay private student loans using a credit card. Credit card payments on a student loan could help you earn rewards, take advantage of a 0% interest offer or make your student loan payment on time. On the flip side, using a credit card payment for student loans generally requires…
[ad_1] Key Takeaways Refinancing a rental property can help reduce your monthly payment and even the total cost of your loan. Cash-out refinancing can turn your rental property’s equity into cash that you can use for a variety of purposes. Refinancing a rental property often requires stricter qualifications than the original mortgage, including a higher…
[ad_1] A personal loan allows you to borrow a lump sum of money, in some cases up to $100,000, that you usually repay over a period of one to five years. The interest rate and monthly payments on a personal loan are typically fixed, which means you know exactly how much you owe each month…
[ad_1] Small personal loans can provide the funding you need to pay for incidentals like car repairs, medical bills, replacement appliances and other unexpected expenses. You may also use a personal loan to pay off a small amount of credit card debt at a lower fixed interest rate. However, many lenders have minimum borrowing amounts…
[ad_1] At some point in your life, you will likely need to borrow money. Perhaps you plan to take out school loans or apply for a mortgage. Whenever you borrow money, chances are good that it will be in one of two forms: secured debt or unsecured debt. Unsecured debt is a common form of…
[ad_1] When you apply for a personal loan, your application is approved based on whether you meet requirements including a solid credit score, favorable debt-to-income ratio and more. In order to prove you qualify, many lenders require that applicants submit supporting documentation alongside their application. Make sure you are ready to provide these documents, which…
