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

Your Online Loan Guide?

Written by: joanee

While planning to take a loan one needs to keep these points in mind. Do a lot of research and contact several lenders including banks, savings and loans, credit unions, and mortgage companies, etc before selecting a particular lender. Ask each lender about the type of loan that would best suit your needs. While making a decision, compare:

* The annual percentage rate (APR): An APR is the most important thing to compare different loans. It is determined on the factors like interest rate, points, fees, and other credit charges that the borrower is required to pay. The cost of the loan depends on the APR i.e. the lower the APR, the lower the cost of loan. Ask if the APR is fixed or adjustable -- that is, will it change? If so, how often and how much will it change ?

* Points and fees: These charges are not refundable if pay off the loan early. Points are generally are paid in cash at closing, but may be financed. If you finance the points, you'll have to pay additional interest, increasing the total cost of your loan.

* The term of the loan: The duration for which you will make the payments.

* The monthly payment: It is the amount that you will be paying every month. Ask whether it will remain same or will change with time.

* Balloon payments: This is a large payment generally made at the end of the loan term and if you can't make the payment, you may need another loan.

* Prepayment penalties: It is the extra fees that you may need to pay in case you pay off the loan early by refinancing or selling your home. These fees may force you to keep a high-rate loan by making it too expensive to get out of the loan. If your loan includes a prepayment penalty, understand the penalty you would have to pay. Ask the lender if you can get a loan without a prepayment penalty, and what that loan would cost. Then decide what's right for you.

* Whether the interest rate for the loan will increase if you default: An increased interest rate provision says that if you miss a payment or pay late, you may have to pay a higher interest rate for the rest of the loan term.

About the author:



Other Related Articles:

Choosing the Right Loan Term for You
Your personal situation will determine the best kind of loan for you. By asking yourself a few questions, you can help narrow your search among the many options available and discover which loan suits you best. Do you expect your finances to...read more

18 Ways to Reduce Your Mortgage Loan Part 1
1. Skip the introductory rate (Honeymoon) Beware of lenders bearing gifts! Introductory or honeymoon rates have long been an important marketing tool for lenders. You are initially offered a cheap rate on your loan to get you in the door but...read more

Personal Loans Bad Credit Personal Loan For Poor Credit
Personal Loan for Bad Credit You could need a personal loan for any reason--to pay medical bills, go on a vacation, buy a car, buy gadgets for the home, invest in a business, plan a wedding, or pay for a child's education. If you own...read more

Return to Home


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