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How Equipment Financing for Businesses Works

Financing the purchase of essential equipment lets businesses preserve cash for working capital, hiring staff, expanding marketing efforts or other purposes. Equipment financing can be done with term loans, SBA-backed loans, lines of credit and credit cards. Equipment loans are … Continue reading →

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Mortgage denial stats by race: What we can learn

A recent report showed racial divides in mortgage approval and denial. We look closer at the data to see why, and how anyone can improve their chance of mortgage success.

Mortgage Loan To Value (LTV) Overview

The mortgage’s Loan To Value (LTV) is a key indicator of the lender’s ability to recover on its investment should a loan default occur. The Loan To Value (LTV) is the loan amount divided by the value of the property. The higher the Loan To Value ratio, the greater the monetary risks for the lender should a default occur. Lenders use the LTV ratio in conjunction with other key performance indicators (e.g. FICO Credit Score values and Debt to Income (DTI) ratios) to determine……

What Exactly Is Mortgage APR?

Mortgage interest rate and mortgage APR (annual percentage rate) while related, are not the same. You’ll see both listed for mortgages. For example, you may see a 30-year fixed-rate mortgage with an interest rate of 4.250% and an APR of 4.385%. The interest rate is the interest you pay on your home loan. The APR… Read More

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Understanding Upfront Mortgage Insurance (UFMIP)

There are a lot of costs associated with getting a government-backed home loan. The down payment and closing costs can add up to tens of thousands of dollars. But there’s one cost you need to prepare for, the upfront mortgage insurance premium (UFMIP). This article will look at what upfront mortgage insurance is, the rate […]

The post Understanding Upfront Mortgage Insurance (UFMIP) appeared first on The Lenders Network.

FHA Loan Requirements for 2021

Are you in the market for a new home but have very little to put down or less than perfect credit? An FHA loan may be worth considering as they have more lax qualification criteria…

The post FHA Loan Requirements for 2021 appeared first on Crediful.

VA Cash-Out Refinance: Is It a Good Idea? | Rates & Guidelines 2021

The VA cash-out refinance program enables veterans and active-duty service members to tap into their home’s equity and, depending on current refinance interest rates, lower their interest rate at the […]

Debt Consolidation Vs. Bankruptcy: Which Should You Choose?

TL;DR: Debt consolidation and bankruptcy are two options for debt relief available to you. Bankruptcy involves discharging or restructuring all your debts—but it stays on your credit report for seven to ten years. It’s generally considered a last resort when no other debt relief options are available. Debt consolidation means consolidating multiple older debts into… Read More

The post Debt Consolidation Vs. Bankruptcy: Which Should You Choose? appeared first on Credit.com.