Loans

Are you struggling to pay your bills, and need a short term loan, but don’t want to pay the extremely high rates traditionally associated with pay day loans and credit card advances? If so, there is the potential for good news, depending on your credit card company.

Recently, credit card companies have been trying to get people to borrow money using their credit cards, rather than using lower interest rate options such as lines of credit, and have been running a variety of promotions to help advance their goal. The most common form of promotion to entice clients to use this type of financing is the Credit Card Check. A credit card check is a regular check, just like you would write from your checking account, but instead of coming out of your checking account, the funds are removed from your credit card in the form of a cash advance. The benefit for consumers doesn’t come from the fact that they’re offering this service, but rather from the rate that is being offered when using it.

Many banks are offering rates as low as 1.99% for the first 6 months to users who opt to use their credit card checks, with rates returning to the regular cash advance rate after the 6 month promotion period.

The question is, should you choose this method of financing over a line of credit?
The answer is Yes, but only if you have the financial discipline to pay back the loan before the 6 month promotional period is up.

Banks are banking on the fact that the majority of customers who use these checks will be unable to pay back the cash advance once the 6 month period is up, and will be able to begin collecting their regular 20+% per annum rate. However, clever consumers use this as an opportunity to borrow money at a rate below prime.

Before taking advantage of this opportunity, there are a few things to consider
- Will I be able to pay off the cash advance balance within the next 6 months
- Are there any hidden service fees (Some banks tack on a percentage or two as a service charge)
- Do I need the money? Theres no point in paying interest on it now if you don’t need it.
- When does the offer expire? If the offer is valid for a few months, hold off using the checks until the cash is needed.

Anyway, for those who are looking to get a low interest loan with no hassle, this is a great idea.

Sometimes we regret for not choosing a right thing at a right moment. We might have absolutely qualified for those good things in life but due to absence of knowledge we could not grab that opportunity. V.A loan is a great boon for veterans who are willing to build a new house for them or their family. It is equally beneficial for active service members who are serving their country away from home. V.A loans open a new counter for saving money and may help you get debt relief programs also. It offers the most convenient process of getting home loan in a competitive market. However, your chief concern might be the guidelines that require you to fulfill in order to get eligible for the loan.

Unlike other Federal or Private loans, this V.A loans are specially designed for veterans with specific objectives. Therefore, certain rules and criteria have been laid down by the government before granting loans to a person. As information may not be always available for you so contacting a V.A loan specialist would be ideal for you.

1) To qualify one must serve 181 days in the time of peace and normalcy.
2) You have to serve 90 days in time of emergency or disturbance or during war time.
3) You can attain the benefit of V.A loan if you have served 6 years in central Reserve or National Guard.
4) A spouse can attain a V.A loan whose husband or wife has died on time of duty.

There may be other concerns which you should think about before applying V.A loan. V.A loans require you to build your home to live in there as a resident. So, it is their occupancy guideline which you can not breach. However, for your job’s sake you may have to be stationed in other place. But if your spouse stays in your home, this will fulfill the condition of V.A loan.

Income to debt ratio is another import thing that matters while assessing your eligibility for a V.A loan. Unlike other type of home loans, this V.A loan sets higher standard for an applicant. Here the debt to income ratio is very rigorously checked. If you have consistent income and reliable source of steady future income, then only you will be eligible for the loan.

However, all you need to do is to consult with an expert and get the detail from him.

photo credit: markhillary

At first, hard money lenders may seem difficult to locate. However, you just need to know the right places to look. Professionals such as accountants, attorneys, and insurance agents have often have clients who are hard money lenders or more generically, private lenders. Especially, if they think they could profit by your endeavors, these professionals often will be eager to refer a source.

Settlement attorneys are often very knowledgeable of individuals in the field since they write loan documents for hard money lenders. Because of their familiarity with the work, attorneys may be hard money lenders themselves. (more…)

photo credit: kevindooley

Are you planning to buy a home but worried about the funds then you can be relaxed as there are many banks and housing finance companies in India that can fulfill your needs. Today there are a range of lenders that cover housing needs of almost all kinds of borrowers. But to avail such a loan one needs to meet certain terms and conditions that are laid down by the lender. It helps the borrower to smoothen the approval process of a loan.

Home loans can be availed for a variety of purposes ranging all the way from buying a new house to renovation of an existing one, construction of new home and for even purchasing a piece of land. (more…)