Renovation Loan

What is 203k Renovation Home Loan and how does it work?

FHA 203k loan is designed to finance the needs of homeowners when it comes to buying an old, damaged or even “inhabitable” house. Obviously, an old house costs much less than a brand new one but the flip side of it is that this abode can eventually cost an owner much more due to massiveContinue reading

сredit score

Everything you need to know about credit scores!

A credit score is the key parameter all lenders evaluate before making a decision about a loan approval. It is important for banks to know whether the client is trustworthy enough in terms of his solvency, reliability and financial stability. A credit score is a financial “passport” saying about the borrower everything, based on hisContinue reading

Business Loan

How do balloon loans work?

Balloon loans are, basically, any type of loans with a special system of payments, called “balloon”. Mortgages and car loans are the most common loans with a balloon payment and it has several reasons why. Balloon loans can be a highly beneficial alternative to traditional loans as it has a special structure of payments thatContinue reading

PersonalLoans

Personal loan or Car loan?

You can’t lead an active lifestyle in a modern world without a car. The huge and never-ending demand made car loans the second most popular type of loans in the USA. There are dozens of sub-types for car loans with a variety of terms for borrowing money with the purpose of buying a vehicle (whetherContinue reading