Tag Archives: Refinancing

The Recent Changes To Remortgages And Homeowner Loans Loans

Certainly there many distinct similarities between remortgages and secured loans as well as there being some distinct differences.

The most distinctive facet that these home loans have in common, is the fact that they both rely on the equity of the borrower’s property.

Secured loans are also known as homeowner loans which makes it perfectly obvious that these loans are only available to those who own their own homes.

What equity means is what is left when the outstanding mortgage is taken away from what the property is valued at..

Up to the commencement of 2007 secured loans were granted at 25% more than the value of the property and this was called the 125% equity plan.The maximum secured loan is now available up to 85% for employed borrowers and 75% for those who are self employed..

Before the credit crunch It was possible to obtain a remortgages and mortgages of 100% and The Northern Rock gave remortgages and mortgages of up to 125%.

The maximum LTV now for remortgages is 90%, while certainly better than that for secured loans is still much less lenient than before the recession.

Before the credit crisis, self certifications of earnings were taken as income proof by remortgage and secured loan lenders but that ended

For some time no lender accepted self certs for either homeowner loans or remortgages but this has altered in favour of secured loans

Both remortgages and secured loans have a huge number of uses from going on holiday, etc. and they are both good ways of carrying out debt consolidation.

Secured loans for the self employed have however some restrictions as they must have a lot of equity at a maximum of 60% and the largest loan is 30,000. Also, the borrower must show three months bank statements to show that they do have income coming in..

These self employed loans of this kind will be handy for people who cannot get a remortgage because they do not have accounts.

Looking to find the best deal on debt consolidation loans, then visit www.championfinance.com to find the best deal on a remortgage for you.

categories: secured loans,homeowner loans,refinancing,debt consolidation,mortgage,remortgage,finance

Some Advantages Of Secured Loans.

The majority of people are aware of secured loans and they are very aware that these loans are useful and that they can be used for many purposes, but although they know that they are good ways of borrowing, they do not have any detailed information about them, and they want to find out.

The first thing about secured loans is that they are only available to homeowners and those who rent their property cannot apply.This fact is made clear by their very name

The asset required as security is the equity that there is in a property, and there are now no secured loans at 100% or 125% loan to value. These loan to values disappeared with the recession.

Loan to values have become very much stricter and the maximum LTV for the self employed is 75% and for employed applicants it is 10% higher.

One secured loan lender is at present offering secured loans as self employed loans with no accounts needed at a tight LTV of 60%, and another requirement is that three months bank statements must be provided.

The best interest rate for secured loans is currently about 9% which being much cheaper than that of credit cards makes them useful for debt consolidation lumping all debt into the one payment and saving money every month.

The repayment period is from five years to twenty five years, allowing people able to buy things with secured loans that they could not afford by any other means.

Secured loans can be paid back early, and the penalty for early settlement is usually only one months interest.

A remortgage can also be used for the same reasons as secured loans.

A time that a secured loan would be very much a more sensible choice than a remortgage is if the homeowner is in a tie in period with his existing mortgage provider and would have a penalty imposed.

The bottom line is that both remortgages and secured loans are excellent ways to borrow and although thir are advantages and disadvantages regarding the two products at the end of the day it is very much a matter of what suits the individual borrower at that point in time.

Looking to find the best deal on homeowner loans, then visit www.championfinance.com to find the best deals on a remortgage for you.

categories: secured loans,homeowner loans,refinancing,debt consolidation,mortgage,remortgage,finance

Clear Debt With Consolidation Loans And Remortgages.

It is not difficult to fall into debt and unfortunately many do get so deeply into the debt trap that it is difficult to escape from it and it has become almost a fact of life for many these days.

Debt is not inevitable but yet it is so common these days, and it is a feature that when it becomes apparent, has a terrible affect on the lives of so many people.

Many want to experience all that the universe has to be experienced and enjoyed and they seek high lights and thrills at every cut and turn through this wish for the best things in life.

Each morning on our way to work, we are faced with massive advertising hoardings telling us of all the best things in life that these posters advertise, and the people depicted in these adverts are needless to say all beautiful and handsome women and men.

Looking at these adverts we cannot help but notice that the people in them do not look much like us or our work mates , as they all look like movie stars. We truly believe or convince ourselves that if we bought the same watch costing thousands and wore the same expensive clothes that we could even win the heart of a movie star.

Jealousy is a bad condition and when we look at those with whom we work, or at individuals walking past us in the street, we hate to think for a single second that they appear to have more money than us.

On our hearts, we know that our neighbours and friends often have more income than us, but still we want all the same things as them. . So we take on more and more credit cards to enable us to go wherever we want and to buy everything that our heart desires. We do not stop to calculate and work out the total of the personal loan and credit card repayments monthly, and if we did, we would likely think that our addition was wrong as we could not believe the extent of all the debts.

Before it become a crisis , and the debt starts to cause stress , you really must obtain debt advice and the correct debt advice will be debt consolidation.

Debt consolidation is best arranged by either a remortgage or a secured loan which with their low interest rates will save a fortune and make life the way it was before debt struck.

Want to find out more about secured loans, then visit Champion Finance’s site on how to choose the best deals on a remortgage for you.

categories: secured loans,homeowner loans,refinancing,debt consolidation,mortgage,remortgage,finance

Do You Know Anything About MI Refinance?

Mortgage refinancing is getting popular and popular. Everyone who wants it applies for it. You may even know someone who is already in refinancing. It may be a friend, a family member, a relative, or even a co-worker in your workplace. So why do you think refinancing is famous?

Refinancing is when you apply for another loan in order to pay off your old loan under the same assets, property, etc as collateral. Usually, if this original loan had a fixed interest rate mortgage, here in refinancing your mortgage loans, you can avail a more favorable interest rate which is a lower rate of course.

We all know that mortgages are also helpful; however some of these mortgage loans have high fixed interest rates. Then thinking about refinancing could be a good idea. You can actually try the MI Refinance so that you can get what you desire, a mortgage rate at lower interest rate. MI Refinance will help you with this one. But, you should also and always ask yourself first if going into mortgage refinance is best for you.

Weighing first all the things before choosing what you think is best, is always a good idea. You should have to take a good look at the current offerings in the market regarding the refinance and see if it will work well for you. You can also take advantage of asking others about their thoughts about refinance. May be it would be better if you would ask those people who are already in mortgage refinance .

Making a good decision about important things is a tough one especially if it involves money. So, before you refinance your mortgage loans, please weigh everything. Let me help you with that. In refinancing, you can use the money you get to pay off some bills and one of this of course are your older debts. After that, you can save more because you can avail a lower interest rate.

However, paying your new debt would take a longer time to payoff whatever you have refinanced. For example, you applied for a mortgage loan today just to pay your old debt. Making a new debt to refinance the old one will make you pay longer. And remember, the more days you have, the more money you pay.

When you have no one to ask to, you can actually browse the Internet for your further questions. By just a few minutes, I assure you, you can get what you want. If not, then may be a little info about your question. Browsing in the Web can help you find lots of lenders that will explain to you more about refinancing. And if you would like, you can actually fill out some forms after then.

And you know why refinancing is getting popular and popular. So, if ever you decide about it just always remember that there’s no need to hurry, if have still time. Take your time to think and realize if you really need it.

Trying hard to pay off all your mortgage loans? Try to consider the MI Refinance to avail lowest interest rates.

Debt Consolidation Loans, Homeowner Loans And Remortgages

Sometimes it creeps up slowly but surely while sometimes it happens very suddenly and we realize that we are in the position of being laden down with a pile of different debts. The first thing that must happen is to take a step to clear up our finances which is now a burden.

We are always being confronted by adverts asking us to buy a flashy new car, designer clothing and to go on expensive cruises, and we have to borrow to do all this.. We of course cannot go on a luxury cruise without having the fancy clothes and designer swimwear to make the best of the trip. and fit in with the other holiday makers. Then there is the model beauty treatment and sometimes even a face lift so popular by the fading aging film stars.

A well known glossy magazine had a wonderful colour spread about hot tubs for the garden, and we really wanted one as it would be a great place to chill out after work or to show of to our friends.

The credit cards are now mounting up and are now approaching their limit, and it no longer seems worth having such nice clothes as after all. the designer clothes are costing you too much, and especially as far as your peace of mind is concerned, The Mercedes Benz now hardly turns a wheel as you cannot afford the cost of the petrol any more.

Too much debt become impossible to cope with and your finances become chaotic.

The best way to get out of the mire of debt is by arranging debt consolidation, which lumps all debt into the one much lower debt consolidation repayment monthly.

Either remortgages or secured loans tidy up all the debts and having such low interest rates save a fortune in the process

Remortgages and secured loans have low payments which in addition to making finances easier to manage also save money.

Looking to find the best deal on secured loan, then visit www.championfinance.com to find the best deal on a remortgage for you.

First Time Home Buyer Programs and Mortgage Refinancing Options

First Time Home Buyer Programs and Mortgage Refinancing Options

Several first time home buyer programs exist to help future homeowners obtain home loan financing. Not all programs are available to everyone and each has unique eligibility requirements. In order to determine which home buying programs are available, buyers can conduct research online or consult with a mortgage adviser.

The most common first time home buyer programs include: HUD homes, FHA loans, VA loans, Fannie Mae financing, and Making Home Affordable; a U.S. government program for mortgage refinancing and loan modification.

First time home buyers can also benefit from the Worker, Homeownership and Business Assistance Act, which provides an 00 tax credit for properties purchased by April 30, 2010. The Recovery Act also extends up to 00 tax credit to borrowers who have lived in their house for at least five years and want to purchase a higher priced home.

The U.S. Department of Housing and Urban Development (HUD) offers a variety of first time home buyer programs. HUD programs vary by state, but most home buying programs involve purchasing HUD homes at significantly reduced prices.

Individuals who work in teaching and public service professions such as law enforcement, firefighters and emergency responders, might qualify for HUDs ‘Good Neighbor Next Door’ program. Good neighbor home purchase incentives include buying houses at up to 50-percent off realty listing prices.

FHA loans are backed by the Federal Housing Administration and provide financing opportunities for first time home buyers with less than perfect credit. Applicants who have filed bankruptcy or possess inconsistent employment sometimes find it easier to obtain FHA financing.

One major benefit of FHA loans is the low down payment requirement of 3-1/2 percent. Down payment money can come from outside sources such as a gift or loan from family or friends. FHA financing is the only home loan program which allows down payment assistance from an outside source.

VA loans are available to veterans and active duty service personnel. The Department of Veterans Affairs offers no money down financing and guarantees up to 25-percent of home loans; making it easier for veterans to obtain a home loan. First time home buyer incentives and mortgage assistance can be found at va.gov.

Fannie Mae presents first time home buying programs and mortgage refinance options. One of the more popular is the Home Path® program which offers an assortment of homes for sale. Fannie Mae homes are foreclosure and deed in lieu properties sold at reduced prices through approved realtors.

Fannie Mae home buying incentives include flexible mortgage terms, no appraisal fees, low down payment requirement, and home loan financing for individuals with bad credit. First time home buyer and mortgage refinance information can be located at FannieMae.com.

First Time Home Buyer Programs

Author and real estate investor, Simon Volkov, offers a comprehensive real estate article library to help home buyers make informed decisions. Topics range from first time home buyer programs to developing real estate investment portfolios. Buyers, sellers, and real estate investors are encouraged to visit www.SimonVolkov.com to learn more about Simon and the services he offers.

realestatemarketingthisweek.com – First Time Home Buyer should use a Mortgage Planning Expert – Part 8 – Credit scores now are a major factor with interest rates. You see the liars up on the internet with interest rates being at 4.625% and all this kind of hocus pocus, its not true. You are never going to qualify for that rate today. They are going to lie to you, once you sign and see the fine print you are going to realize that it is a ridiculous idea to pay that amount of money in fees. Credit scores have to be significantly higher than they used to, but again I have to tell you, its my opinions that a 70% no doc loan with someone who has a 720 or higher credit score I believe is a good loan. I personally believe that at some point it will be brought back. I am not arguing with that, with a good FICO score I can agree with a 20% down for a stated income loan. People are encouraged through our tax system to write off all of their expenses and so often we have small business people who really are making money but because they take advantage of our tax system they are not able to get a loan. They cant qualify based upon their income. In a lot of cases yes, but once again I definitely want to point his out just because someone is self employed and owns a small business and they do write everything off, that does not mean that they will not qualify. They may have been told now that they have to go stated income because of tax returns, but most people, the small business
First Time Home Buyer Programs
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