A quick loanWritten by Jakob Jelling
Sometimes when you are in immediate need of money, loan approval process can seem lengthy and exhaustive. In this situation a quick, no-hassle loan may seem appealing to many consumers.If you need money in a hurry, a payday advance loan may be one option to you. Payday loans do not require a credit check or need a property appraised, therefore they are faster to acquire. You can even apply for a quick loan online and be instantly approved. You just need to fill out an application online and once relevant information has been received by lender, your money will be delivered. Payday loans can range anywhere from $50 to $1,500 or more. Payday loans are meant for a short term use. If you have run out of money before end of month and need money to pay your bills, a quick loan will come in handy. That is why they are called payday loans and should be paid with next paycheck. When looking for a quick loan it is very easy to fall for a scam offer, with number of people out there promising quick money. It is advisable to loan money from well established and reputed lenders. Some people even regard payday loans as a scam due to high borrowing fees they charge and high interest payments they will add on if you do not pay on time.
| | 40-Year Mortgages: An Alternative to Interest-only Loans?Written by Chris Rocks
Interest-only loans are quickly becoming a mainstream loan product. Borrowers who were initially turned-off by perceived risk associated with an “interest-only” loan are now starting to see benefits: Lower payments, less money tied up in equity, more flexibility, etc. For savvy borrower, an “interest-only” loan can be an important component to an overall financial plan -- allowing them to divert principal payments to other financial goals. “Interest-only” is typically an option only available on adjustable rate mortgages (although some lenders are now offering this option on 30-Year Fixed Loans). Borrowers who plan on keeping loan for a long period of time and are uncomfortable with a loan product that has an adjustable rate component, may be interested in 40-Year Fixed Rate Mortgage. (Note: Some lenders do offer a 40-Year term on their adjustable rate mortgages) The more flexible underwriting guidelines of a 40-Year mortgage may also attract some borrowers who are interested but do not qualify for an interest-only loan. A 40-Year Mortgage is exactly as it sounds – a mortgage that is re-paid over a 40-year term. Due to a longer repayment period, 10 years more than standard 30-Year Mortgage, monthly payments are lower.
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