Tag Archives: money
Home Equity Loans without Equity?
Even if you havent built any equity on your home yet or if you need more money than the amount you have built on your home, you can get a 125% home equity loan that will let you get a quarter more money above your home value.
This means that if you just bought your home and you financed 100% of its value, you could still get 25% of its value from a home equity loan. If your home value is $200.000 this implies that you can borrow up to $50.000. If you have already paid 10%, you could borrow $70000 and so on.
Loan Requirements
In order to qualify for this kind of loans you need to meet certain requirements. Requirements are mainly associated with your credit score and history. Nevertheless, each lender has its own requirements and you can always consult with them weather youll be able to get a loan or not. Bear in mind that your credit report will be pulled so you might want to check everything is in order before applying as you may get declined and this will affect your credit score even more.
Additionally, your credit score will not only determine your eligibility but it will also establish the loan amount youll be able to request, the lending schedule and the repayment schedule. You wont always be able to receive the full loan amount in hand; you may get the money in 3 or 4 separate installments.
Some lenders require that you spend a certain amount of time living in that home prior to granting the loan. This period of time is not fixed and depends on your credit score and on the lender; some of them do not require it at all. But normally two months residing in the property is the minimum period of time required.
As regards to appraisal, most of the time, it can be bypassed. This is due to the fact that property values tend to be stable over small periods of time, and chances are that if youve bought the property or refinanced within a small period of time, theyll use the value concealed in that contract in order to calculate the new loan figures. This is almost always true if youve bought your home or refinanced within twelve months.
Perfect for home improvements
This kind of loan is a great option for those who didnt have enough money to buy a home and undertake house improvements at the same time due to the lack of funds. With a 125% Home equity loan you can get the finance needed to make house improvements without having to pay for high interest personal loans.
So if you need the extra cash and youve made up your mind, just search the internet for 125% home equity loan lenders and request loan quotes. Compare fees and interest rates, and once youve decided which option is best for you, apply for the loan. In a matter of days youll get approved and you will be able to get started.
Unsecured wedding loans-Easy Finance for a Special Big Day
The worst thing in someones life would be when he would have to make compromises on his wedding day. A wedding is such an event that happens one in lifetime. Hearts sink to see such a person who is making his wedding preparations, falling short of funds. Apply for Unsecured wedding loans and get credit without giving a guarantee against it.
One does not want to leave any stone unturned to his wedding an unforgettable affair for all. One wants to make such arrangements that would make his partner happy and the both would live happily ever after. With the help of unsecured wedding loans, one can arrange credit in the range of £1000 to £25000 whose repayment can be done in the time duration of 1 to 10 years.
The borrower can do a lot of things which are on his priority list after he gets this finance. Buy a designer wedding dress, a solitaire for your mate, get wedding cards printed, book caterers, book a place for the reception and so on.
This finance is comes without any kind of risk factor for the borrower as this aid is collateral free. Tenants who do not have a property of their own go opt for this choice. As well as homeowners who do not want to put their asset like home, socks, cars or jewellery at risk can also go with this alternative.
Since there is no guarantee, the lender is doing a risky deal; he may charge a slightly higher rate of interest. Therefore, it becomes mandatory for the borrower to consider his repayment capacity before applying for the finance.
Faxing and documentation that is required by the money lenders is also not excessive. The process of money lending is fast and easy.
A poor credit person can also apply and get rapid funds without wait. Stained conditions like payment overdues, arrears, insolvency, late payments, CCJs, IVA etc are not a trouble for either the money lenders or the borrowers.