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Home Loans

How to Decide on the Term of the Loan

If you need a personal loan, the sooner you pay it off the better. Lenders view long term loans as risk, and therefore they often reserve their best personal loan rates for short-term loans. Short term loans are usially considered around

Government-Backed Loans

There are three types of government-backed mortgages: USDA loans, which are backed by the U.S. Department of Agriculture, help buyerswho meet income requirements and want to buy a rural property. VA loans, which are insured by the Department of Veterans Affairs, help current

Buying A Short Sale: Things To Know

When a seller’s debt on a home surpasses the property’s market value, they may choose to avoid foreclosure by selling their home as a short sale. This requires bank approval, since it means the lender will be accepting less for

The Lending Lexicon: Mortgage Terms to Know

Most prospective home buyers walk into the process knowing the basic terminology associated with mortgage loans, interest rates and closing costs. When it gets down to the nitty-gritty, however, many become lost in the jumble of letters, numbers and multisyllabic

Mortgage Refinancing: What To Expect

As mortgage rates continue to hold steady at near-historic lows, many homeowners are considering a refinance. This means applying for a new loan with better terms, which will typically allow for lower monthly payments, a faster pay-off, or both. If
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