• Transferring Your Home Loan: Things to Consider
    When banks offer interest rates lure that seems better than your current bank withdrawal of your home loan, you may be tempted to transfer the loan. But remember the point that each bank has its own marketing strategy, and it might not be what they seem on the outside. It's important that you know the details of the bank offer deep. There are other important things to take into account than just the interest rate on your loan. The following are things to consider when you transferring your home loan.

    Compare Total Outflow

    While the new bank can attract you to his side by offering reduced EMIS and lengthen the repayment period of your loan, you should be aware that this may increase the total amount you have to pay in the end due to the addition of the continuous interest rate for your loan amount. If your current EMI is higher than what is being offered a new bank, you have to compare the total outflow from the two banks before you shift. Unless you are struggling to pay your EMI this time, is not advisable to shift banks just for the decline in interest rates.

    Be Sure to Negotiate

    If you do not want to be dictated by the terms of your new bank, although you find some aspects of the offer to be attractive, make sure to negotiate. Negotiations can take you away from that at the mercy of your lender and can even give you the upper hand. Banks do not want to lose their borrowers, especially if they have a clean record in repaying the loan on time. So more often than not, the negotiations will be considered by the bank.

    Switch on the Right Time

    In general, your EMI structured in a way that you pay the interest component first and then your main components. So if you make the switch at the beginning of the period of your loan, you will pay a higher amount to the interest component, whereas if you switch on the end, you will pay a higher amount to the main component. If the new bank has an attractive interest rate, you get the maximum benefits with the switch during the initial period. Timing switches correctly can save a lot of money.

    Notice Terms and Conditions

    Every time you switch to a new bank, it is important that you thoroughly read the terms and conditions of both the old and new banks. Some banks may have a condition such as buying insurance from a particular company or other such terms. Acquire complete knowledge before signing the document.

    Know the Cost of Allied

    Especially with home loans, you should know that transferring your loan comes at a cost as processing fees, stamp duty, legal fees, technical costs, appraisal costs, and much more. You must take all this into account and see if the offer of a new bank is worth.

    The author, who focus more towards highlighting social issues we face every day. I give tips on property investment, writes on real estate market trends, and provides insight into the latest housing projects. For questions related more solid, you can call directly on this number 877-591-5975, so there is no mistake when you want to access it.
    11 Jul 2014
    2 comments
  • Topping Up Your Loan

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    If you're registered for Cashloansmutual Online Banking and you already have a loan with us, you could apply to top it up online to an overall total of £35,000. That way, you’ll have the cash you need – whether for a new car, renovations or a bit of extra breathing room.

     
    Top-up your existing loan

    When you top-up a loan, we don’t actually add money to it. Instead, we set up a new loan for the remaining balance and the extra amount you want to borrow. Then we pay off your old loan from that total, including any early repayment charges, and transfer what's left into your account. The new loan may have a different interest rate from your initial loan, and the term might be different too. This may mean that you would pay more interest than before.

    If you haven’t signed up for Online Banking, you can register now. You can also call us on 855-409-5036 or visit a branch.


    Take out an additional loan

    Did you get your current loan for a specific reason and want to borrow for something else, or just want to keep your repayments separate? If you have a Cashloansmutual and are registered for Online Banking, you could apply for a second loan.
     

    Log in  to see if you have a provisional loan limit and can apply online. Then follow the application process.
     

    If you're not registered for Online Banking, call us on 855-409-5036.
     
    As with any form of lending, make sure your new repayments will be affordable.

    All loans are subject to status at the time you apply. Early repayment fees will apply.
    Features of our Cashloansmutual Personal loan

        Borrow up to £35,000 in total 3
        You could get an obligation free personal price quote without affecting your credit score. Log in to Online Banking to see whether you have a provisional loan limit, without affecting your credit rating:

    1.  One fixed monthly repayment to help you budget
    2. You have the legal right to repay the loan early at any time
    3. Rates are the same regardless of what you’re borrowing for
        You can apply in Online Banking, in branch or over the phone, depending on your circumstances and the products you hold 6
        Loans are available up to 5 years (or up to 10 years on larger amounts for selected existing customers)

    Repaying your loan early
    You have the legal right to repay your loan early, in part or full, at any time. As well as any other interest that’s due, we’ll charge you a fee equal to 30 days’ interest. This will be calculated using the amount being repaid for a partial repayment or on the amount you owe us if you repay in full. For more information, call 855-409-5036 or visit a branch.

    To find out what your repayment fee is at any time, log in to Online Banking, call us on the same number or visit a branch.
    13 Jul 2014
    4 comments
  • Hard Money Tips for Real Estate Investors
    Real estate investing has been a hot-button topic in recent years, as we have seen the industry turned inside out with volatility, the collapse of the housing market, and, of course, the tightening of capital purse strings by the banking sector. However, for hard money investors and borrowers, opportunity abounds in these turbulent times, as the ability to capitalize on distressed properties opens the door to fantastic opportunities for profit.

    It is worth noting that not all distressed properties pose the same profit opportunity, which is why we've created this guide in an effort to better educate about what to look for, how to secure funding, and most importantly, how to generate a healthy return on the transaction.

    Identifying the Perfect Distressed Property to "Pounce"

    A property is "distressed" when it is being listed by the financing institution or is currently under an order of sale due to foreclosure. In these instances, the property is usually "priced to move", as the bank has little to no interest in hanging onto the property any longer than necessary.

    Unfortunately, the same dynamic that leads to these opportunities also makes it incredibly difficult to find the financing to purchase the property, putting real estate investors in a dilemma. With banks refusing to offer up capital, how can they expect these properties to move? This funding gap has created a growing hard money lending industry that has taken the industry by storm.

    Hard Money Lending Basics

    Hard money lending offers those who have capital a wonderful investment opportunity, while providing those without capital the opportunity to turn healthy profits in distressed properties. There are several different perspectives on the hard money industry, so let's run down a few key components to help you determine whether or not investing in such endeavors is right for you:

    (1) Valuation and the Loan

    Hard money loans are contingent on the appraisal of the property. Because the lending institution will only offer around 70% of the total valuation, a borrower will want to be certain that the appraisal is accurate. This hedges the lender's bet on the high-risk nature of the loan, as the property is then placed as collateral against the loan itself. Should the borrower default, the property is then turned over to the lender as repayment.

    (2) Protecting Yourself as the Borrower

    Those interested in acquiring and "flipping" locations using hard money should be well-informed in the various nuances associated with the property's value and the conditions of the loan. One must be certain that they have property appraised the amount of WORK necessary to restore the property, if necessary, as these types of "surprises" can often lead to a financial nightmare. Fortunately, however, the lender doesn't want the property either, so they will likely be quite diligent in making sure that your proposal for profit is a sound investment - it just never hurts to get another opinion on the work required!

    (3) Convenience vs. Interest Rates

    Distressed properties provide great opportunities, as we previously mentioned, but in order to capitalize, time is of the essence. One of the biggest necessities is the ability to secure funding quickly. Hard money lenders will usually have the ability to setup an appraisal and provide funding in a matter of days, whereas standard banks can take weeks! This, alone, can ensure that your eye for property potential isn't thwarted by another investor that has deep pockets...

    There is a price to pay for this convenience, however - hard money loans often carry higher interest rates than the standard bank alternatives. This should come as no surprise, as the risk is far greater for a hard money lender, given the propensity for "speedy" approvals.

    Distressed = Discounted!

    Distressed properties often come at a steep discount, as the lenders are simply trying to unload them and recoup their initial investment. Those that understand how hard money lenders can assist in securing quick capital can take advantage of newly found opportunities, improving the ever-important bottom line.

    Today's real estate climate may have warmed a little, but don't buy into the notion that things have recovered. Banks are still sitting on countless properties, and are actively seeking investors to take them off of their hands. Those profits could be yours - you just need to understand the hard money sector!

    13 Jul 2014
    5 comments

Wednesday, December 4, 2013

How to Keep Informed on Mortgage Rules and Regulation Changes


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If there ever was a time when home loans were easy to qualify for, it must not have lasted long. These days, it feels like it is getting harder and harder to receive a home loan. This does not mean it is impossible to get a loan but the bank requires a lot of information from the borrower lately.

Keeping informed on changes to rules and regulations could stop homeowners from missing out on opportunities to lower their monthly payments, receive cash out of their homes and even purchase a larger house. Luckily staying informed is not difficult tasks with the many online publications that will even display on mobile devices like smartphones and tablets.

Finding Websites with Mortgage News and Information
If you want to stay informed, the first thing to do is find a website with the right information for you. Some websites are geared toward the homeowner and some are geared toward the mortgage industry professionals. You also want to make sure it is a mortgage website and not real estate, because a real estate website will speak more about changes to the housing market along with how it affects sales and purchasing. Mortgage rules and regulations are impacted slightly by the housing market but it should not be the main topic of discussion.

The features of a website can also draw you in, whether offering a mobile friendly option or presenting information in a certain way. This can make it easier to find what you want, when you want it. So once you have found a few websites you like, play around with viewing them on different devices and sign up for their newsletters (you can always unsubscribe later). Playing with the websites will give you a better feel for how they can help you even when you are on the go.

Knowing When to Work with a Lender
Although it is always a good idea to speak to a mortgage lender, knowing when to actually move forward could mean the difference between a large savings and a little savings. Mortgage rate trends will shift along with the rules and regulations. By following when the next shift in rates will be or reading about new mortgage programs that become available, along with the rules attached to those programs, you can make a better decision on when to commit to a new loan.

There are situations where loan programs change depending on who they are offered by. Whether a homeowners current loan is offered by the FHA, VA or some other government entity, shifts in regulations could mean shifts in insurance premiums as well as qualifications. This could be both leniency or more stringent lending rules. Being well informed, if a rule were to come into effect, you would know when your deadline would be to change over to a new program possibly with a refinance.

The Future of Mortgage Rules and Regulations
Looking towards the future will always benefit homeowners because mortgage rules and regulations are so well documented. They clearly state when they go into effect and who will be affected by them so homeowners can always plan in advance for upcoming changes or possibly opportunities to save money such as through new programs or refinance options.

Start finding the right option for you when it comes to mortgage news and information. There are many publications that can offer both friendly approaches to information and well as easy to use functionality. It may also be a good idea to follow a few so that you can match the information up between them.

There has never been a better time to stay informed on mortgage rules and regulations. The government is offering programs and incentives to refinance and there are plenty of investment opportunities available as well. Fred Bohman understands that homeowners and home buyers benefit from mortgage news and information so he provides articles to help them prepare.
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1 comment:

  1. UnknownOctober 16, 2018 at 5:18 AM

    Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

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