Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


Use Homeowner personal loans to finance your needs the secured way

Written by: Peter Taylor

Personal loans taken by homeowners need not necessarily be secured. It is true that more and more homeowners are lured into taking secured loans. Several advantages that only secured loans can let them enjoy are recounted by the loan providers. Nevertheless, homeowners now form an important customer base employing unsecured personal loans to their financial needs. Though the homeowner does not part with the lien on his home, loan providers are not complaining. Being a homeowner connotes credibility, a prerequisite to unsecured personal loans.

Whatever be the form in which personal loans are lent, homeowners continue to enjoy the preferential status. As mentioned above, by the fact that one is a homeowner, the individual becomes credible enough to be lent. Come what may, borrowers will not endanger their home through inappropriate financial decisions. Loans and mortgages, either directly (secured loans) or indirectly (unsecured loans), affect the home through liquidation or by transferring possession of house. This happens in the event of non-payment of the unpaid dues. Consequently, borrowers will be regular in repaying the monthly or quarterly instalments on the Ho meowner personal loans . Isn't this what the loan providers desire? Getting back the amount lent without much hassles will be termed as lower risk. The preferential treatment allowed to the homeowners is the result of this very reduction in risk. The following article illustrates the benefits available only to the homeowners borrowing through personal loans.

First is the number of loan providers that are prepared to lend personal loans to the homeowners. Almost every lender vies for the business of the homeowners. The deals offered include unsecured loans as well. Convenience rules the market. Borrowers will find it easier to locate the loan providers online. An online loan provider has his financial products advertised on its website. Applications listing the loan details can also be submitted online. This is relatively easier for borrowers since they do not have to run every time loan documentations have to be undertaken.

Homeowners conventionally use secured personal loans. A secured personal loan makes use of the equity present in home. Equity is the market value that a home fetches after deducting any unpaid loan, for which home has been pledged. The maximum loan amount can be had on secured personal loan. Up to 80% of the equity present in the home can be raised as loan. Some loan providers are ready to lend up to 125%. The amount lent on unsecured personal loans to homeowners, though not equivalent to secured loans, will be higher than what the non-homeowners get.

Homeowners are also benefited with a cheaper rate of interest. The reduction in risk is adequately compensated through a lowered interest rate. Borrowers must beware loan providers who claim to be awarding homeowner personal loans at the cheapest rates, but are actually adding several costs to the loan repayable. The appropriate method to compare interest rate will be through APRs. APR allows interest rate comparison on a more common base. Loan calculator lists the APR being offered by a multitude of lenders. This can be used to learn about the interest rate that homeowners get personal loans on. However, loan calculator only suggests the interest rate and does not give the exact measure that loan providers ought to charge. Many a times the details in the loan calculator are obsolete. Therefore, the loan calculator must be used with caution.

Still another method of comparing interest rate (which does not involve time consuming calculations as in loan calculator) is a personal loan quote. The short-listed lenders may be requested to send a personal loan quote with the terms of homeowner personal loan specified. This gives the perfect measures for comparison. Personal loan quote puts no obligation on the borrower.

Repayment terms are no different from those offered to the non-homeowners. Since interest rate is lower on homeowner personal loans, the amount repayable may not be higher. Since the repayment is to be made through monthly or quarterly installments, borrowers will not find the task as Herculean a task as it is for the non-homeowners. The differences are noticeable when the installments are not paid regularly. While the loan providers easily lose patience with the non-homeowners, they do not with the homeowners. Homeowners get payment holidays and discounted rates of interest during periods of financial depression.

Homeowner personal loans, despite the advantages that it allows its borrowers to have, do have to be used with prudence. You surely wouldn't like to lose your home for a repayment not made on time. Proper advice will go a long way in keeping the bad-effects of homeowner personal loans at bay.

About the author:

Peter Taylor is a senior financial analyst at easyfinance4u with an acumen for finance and insurance. His articles are widely read because of the lucid manner of wriiting and thoroughly researched datas.To find Secured loans,secured personal loans,secured debt consolidation loans in uk that best suits your need visit http://www.easyfinance4u.com< /a>


Other Related Articles:


Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/rliu008/public_html/redhotloantips.com/rotator.php on line 7

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/rliu008/public_html/redhotloantips.com/rotator.php on line 7
Home Improvement Loan - Make Your Old Home New
Home improvement involves changing the way your house looks. It can be anything, from painting walls to getting new bathroom fixtures. You may redesign your kitchen so that it looks better. You may change the way your garden looks or convert...read more

Personal Loan: the perfect elixir for your financial ills
Personal Loan: the perfect elixir for your financial ills Imagine this: You have been driving your old Lexus for a long time now and you have your eyes set on that new Audi A4. But you just somehow never get to save enough to buy a new...read more

How to Find a Low-Interest Debt Consolidation Loan
Debt consolidation loans help debtors lower their monthly bills while paying off credit cards with high interest rates and debt, adhering to an overall debt strategy. Many online counselors or debt management services will offer to make your...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map