When taking out a loan, borrowers should be aware that lenders often impose restrictions called debt covenants. These provisions are intended to reduce the lender’s risk and ensure the borrower can repay the debt. By understanding common debt covenants, you can avoid violations and complications when securing financing. What Are Debt Covenants? Debt covenants refer … Read more
If you’re looking to take on a major home renovation or new construction project you’ll likely need to get financing to cover the costs. Two popular options for funding these types of projects are home equity loans and construction loans. But which one is the better choice for your situation? This comprehensive guide examines the … Read more
I am happy to inform you that Doe International has approved your loan application for $33,000 with interest to be paid at a 9.8 Annual Percentage Rate. As indicated in earlier correspondence, we expect the loan to be paid in full within seven years. An amortization schedule is enclosed. Please call me sometime during the … Read more
While you may be able to buy your primary home with little or no money down, you’ll typically need to put down at least 15% if you want to purchase a rental property. And with the median cost of a house hovering around $399,000, that comes out to nearly $60,000. This hefty chunk of change … Read more
Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.” If you’re not getting approved for a … Read more
Declaring bankruptcy can significantly impact your finances and make it more difficult to qualify for a new mortgage loan. However it is possible to get a mortgage after bankruptcy if you take the right steps to rebuild your credit. This article explains how bankruptcy affects mortgage loans when you can qualify again, and tips for … Read more
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. Bankrate has partnerships … Read more
If you already have a personal loan, can you get another one? The short answer is yes. There’s no limit to the number of personal loans you’re allowed to have. However, the amount of debt you can take on is limited to how much a lender is willing to let you borrow. Personal loans allow … Read more
Buying a home is expensive, especially in the weeks preceding and following closing. Homebuyers can be caught off guard by the money needed to cover down payment, closing costs, inspection fees, and home repairs. However, they may be able to alleviate some of these expenses by negotiating seller concessions with the home seller. If the … Read more
So you want to become a loan officer in Texas? As one of the fastest growing states in the country, Texas offers tremendous opportunities for mortgage professionals With a hot housing market and thousands of families looking to buy homes, loan officers in Texas can build incredibly lucrative careers. But how exactly do you become … Read more