Amazines Free Article Archive
www.amazines.com - Thursday, November 21, 2019
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133320)
 Advice (160955)
 Affiliate Programs (34735)
 Art and Culture (73688)
 Automotive (145679)
 Blogs (75053)
 Boating (9840)
 Books (17218)
 Buddhism (4124)
 Business (1328561)
 Business News (426310)
 Business Opportunities (366263)
 Camping (10962)
 Career (72734)
 Christianity (15843)
 Collecting (11637)
 Communication (115054)
 Computers (241957)
 Construction (38996)
 Consumer (49681)
 Cooking (17061)
 Copywriting (6567)
 Crafts (18204)
 Cuisine (7538)
 Current Affairs (20387)
 Dating (45776)
 EBooks (19687)
 E-Commerce (48204)
 Education (185253)
 Electronics (83497)
 Email (6392)
 Entertainment (159831)
 Environment (28937)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110900)
 Fashion & Cosmetics (196389)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310272)
 Fitness (106108)
 Food & Beverages (62867)
 Free Web Resources (7938)
 Gambling (30225)
 Gardening (25107)
 Government (10513)
 Health (629520)
 Hinduism (2205)
 Hobbies (44040)
 Home Business (91556)
 Home Improvement (251351)
 Home Repair (46128)
 Humor (4823)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29546)
 International Property (3485)
 Internet (190985)
 Internet Marketing (146334)
 Investment (22824)
 Islam (1167)
 Judaism (1356)
 Law (80487)
 Link Popularity (4591)
 Manufacturing (20842)
 Marketing (98770)
 MLM (14136)
 Motivation (18213)
 Music (27005)
 New to the Internet (9479)
 Non-Profit Organizations (4048)
 Online Shopping (129616)
 Organizing (7803)
 Party Ideas (11856)
 Pets (38080)
 Poetry (2234)
 Press Release (12674)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126622)
 Recreation & Leisure (95272)
 Relationships (87558)
 Research (16158)
 Sales (80321)
 Science & Technology (110221)
 Search Engines (23453)
 Self Improvement (153101)
 Seniors (6232)
 Sexuality (35942)
 Small Business (49284)
 Software (82995)
 Spiritual (23465)
 Sports (116080)
 Tax (7658)
 Telecommuting (34066)
 Travel & Tourism (307395)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11727)
 Website Design (56824)
 Website Promotion (36568)
 World News (1000+)
 Writing (35769)
Author Spotlight
SHOVON JOARDER

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more
MAXWELL JIANG

My mission is to help one million people recover from their exes, to provide valuable information so...more
CACEY TAYLOR

Im just a man who likes to be happy and see others happy. Im into home business, sports, family, and...more
RAJESH THAPALIYA

I am in Nepalest tourism industery working since 2000 as a trekking porter to the senior tour leader...more
ANISH SAH

My Name is Anish Sah, I am an Internet Marketing and SEO Expert, Social Media Guru and young Entrepr...more


The Basics of Home Equity Loans by Andrew Stratton






The Basics of Home Equity Loans by
Article Posted: 04/23/2015
Article Views: 253
Articles Written: 5522
Word Count: 518
Article Votes: 0
AddThis Social Bookmark Button

The Basics of Home Equity Loans


 
Business
Working on your house to renovate or redecorate takes money. If you're short on cash, home equity loans are one option to finance your project. Understand this debt before you proceed to ensure that you don't cause yourself credit problems.

Financing Basics

Home equity loans are a type of financing that gives you a fixed amount of cash by using your house as collateral. This contract entails payments for a specified term, similar to what you would make when taking out a mortgage. A default on this type of financing can lead to foreclosure on your house, just like it would for default on a mortgage.

You will get a one-time lump sum payment from the bank. The terms will specify repayment over a stated period with a fixed interest rate, and your monthly payments will not change for the entire duration of the term. This loan does not enable you to borrow additional money against the value of your house in the same way that a home equity line of credit would. These lines of credit typically have a variable interest rate that changes over the term of the contract.

Banks have specific borrowing limits based on the equity of your house, your house's value, your credit history, and your income. In general, don't expect to borrow more than 85 percent of the equity you have built up in your house.

Shopping for Financing

Lenders will have different terms and rates for home equity loans. Shop around with various lenders to find the most attractive terms and plans. Consider financing with banks, credit unions, savings and loans, and mortgage companies.

Ask how each lender calculates the annual percentage rate for the financing. Expect the APR to include finance charges, points, and fees such as underwriting fees, origination fees, funding fees, recording fees, broker fees, and appraisal fees.

Find out your credit score to give you a position of knowledge as you examine your loan options. Your credit score can vary between 300 and 850, and a score of 720 or more is considered good in general terms. However, different lenders have different standards about credit scores.

Cautions

Home equity loans can be a simple way to secure cash, but proceed with caution. It is unwise to use this source of money to fund luxury items such as vacations, recreational vehicles, and expensive renovations such as home theaters. The reason you should avoid these expenditures is because they do not give you a return for the money you borrowed.

Pay close attention to the terms offered for this type of second mortgage. Although the repayment period could be as long as 15 or 30 years, it may be significantly shorter. You could only have as little as five years to repay the money at the risk of losing your house.

Wise use of home equity loans would include expenditures on projects that will increase the value of your home, and give you a return for the money.

When considering home equity loans, Houma, LA residents visit Coastal Commerce Bank. Learn more about this service at http://www.coastalcommerce.com/personal/loans/home-equity-line-of-credit.html.

Related Articles - home, equity, loans, houma, la,







Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
JOANNA MORGAN

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2019, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license