Non-conventional loans are an important financing option for many homebuyers who don’t qualify for conventional loans backed by Fannie Mae and Freddie Mac. While conventional loans are the most common, non-conventional loans provide more flexibility and options for those with unique financial situations. In this comprehensive guide, we’ll explore the most common examples of non-conventional … Read more
When it comes to financing, small business owners have two main options for loan structures: simple interest or amortized loans. But what exactly is the difference, and how do you know which is better for your company? In this comprehensive guide, we’ll explain what simple interest and amortized loans are, how they work, key differences, … Read more
Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit” (CLL) value. Loans above this amount are known as jumbo loans. The national conforming loan limit value for mortgages that finance single-family one-unit properties increased from $33,000 in the … Read more
Having a credit score of 600 can make getting approved for a personal loan more challenging. While many lenders require scores of 640 or higher, there are still options for borrowers with lower credit. Online lenders tend to have more flexible credit requirements than banks and credit unions. With an online loan for 600 credit … Read more
In most cases, a fixed-rate car loan is the best option. That’s because a variable-rate auto loan carries the risk of increased monthly payments. Variable-rate car loans may have an advantage if you don’t plan on holding the loan for a long period. If youre thinking about financing a car, youll find loans that come … Read more
Buying a home is an exciting milestone. But for many first-time buyers, a lack of credit history can seem like a roadblock. If you have no credit score, is homeownership still possible? Absolutely! While challenging, getting approved for a mortgage with no credit score is achievable through the right lenders and loan programs. As a … Read more
California’s housing market is one of the most expensive in the country. The median home price in the state is over $800,000, more than double the national median of around $370,000. With home prices so high, many homebuyers in California need jumbo loans to finance their home purchases. What is a Jumbo Loan? A jumbo … Read more
Purchasing vacant land to build a home or other structure requires significant financing. Land loans allow buyers to pay off the purchase price over time, rather than in one lump sum Using a land loan amortization calculator is the best way for buyers to estimate their monthly payments, total interest costs, and final payoff date … Read more
Having less-than-perfect credit shouldn’t stop you from getting access to financing when you need it, Signature loans allow borrowers to get approved based on income rather than credit scores alone You can use funds from these unsecured personal loans to cover almost any expenses This guide explains how signature loans work, what credit scores lenders … Read more
You can get a personal loan from a variety of different companies, but one of the most popular types remains the good old-fashioned bank. Bank loans can offer advantages over other types of personal loans, including lower interest rates and more favorable terms. However, not every potential borrower will qualify for this type of funding. … Read more