Learning All About Financing

4 Things You Should Have Ready Before You Apply For A Home Loan

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If you are a first time home buyer, you may be wondering what will be expected of you to purchase a home. It used to be much more flexible to get approved for a home loan, but now there are more regulations, and because of that, you will need to show more documentation and proof to get the loan. However, being prepared can be one of the best things to speed up the process and improve your changes of getting approved for the loan. Read More»

3 Tips for Getting a Better Rate on Your Mortgage

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Many homeowners focus on their overall home buying budget without paying much specific attention to their mortgage rate. This is unwise, however, since even a slightly lower mortgage rate can make your monthly mortgage payment more affordable and add up to significant long-term savings. Here are three tips for getting a better mortgage rate: Consider Paying for Points Your mortgage company may offer a program that allows you to pay for a point reduction. Read More»

Your Guide to Getting a Hard Money Loan for Flipping a House as a New Investor

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If you have recently decided to buy a house at a low price that needs some work, provide the work it needs, and then sell it at a higher price, it is important to note that one popular option for financing your first attempt at flipping a house is a hard money loan. Since the terms of a hard money loan require significant collateral and come from a private lender instead of the bank or credit union associated with many other types of loans, the terms can vary tremendously from one transaction to the next. Read More»

Four Things You Should Know Before You Sell Your Unwanted Gold

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If you have gold that you no longer want and would like to sell for quick cash, there are a few things you need to keep in mind before you start looking for a scrap gold buyer. You may need an appraisal for jewelry If you are selling old jewelry that is only gold, it is likely to only have value because of its gold content. However, if there are any gems in the jewelry, especially rings and necklaces, you should have an appraisal done. Read More»

Payday Loans and APR: What Borrowers Need to Know

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In the media, payday loans are often cited as having extraordinarily high annual percentage rates, or APRs. This is true. The average APR on a payday loan often approaches 400%. When you compare that figure to the average APR on a traditional credit card—which is typically lower than 30%—payday loans seem like a losing investment for the borrower.  However, as it often is with statistics, the APR on a payday loan is extremely misleading. Read More»