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Home Equity Loans Online - Types Of Home Equity Loans
A home equity loan allows you to tap into your property's value
to pay off short-term debt, remodel, or pay for college. There
are several options for drawing on your equity, each with their
own benefits and drawbacks. No matter which option you...
Online payday loans - associate technology to get an instant loan approval
Rightly said by Corita Kent that,
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Payday Loan "I just need enough cash to tide me over until payday." Sounds familiar to you? I'm betting it does. We constantly find ads to this effect on the radio, television, the Internet, and even in the mail. The type of loan being referred...
Payday Loans - Get Money Fast
A payday loan is a short-term solution if you have unexpected
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Vehicle Loans - Save Money On Your Next Loan
Everyone likes to save money. Auto loans can carry significant
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A Beginner's Look at Secured Homeowner Loans
Secured homeowner loans come in a variety of different types and amounts, and are intended for a wide variety of uses.
These loans can be used for the same purposes as most personal loans… they can allow you to purchase a new car or other vehicle, pay for education expenses, make improvements or repairs to your home, or even consolidate several debts into a single low monthly payment.
Unlike some personal loans, however, secured homeowner loans use the equity in your home or other piece of real estate as collateral… which can lead to larger loan amounts than you might otherwise be eligible for with a standard personal loan.
So what is equity, anyway?
One of the key things that separate secured homeowner loans from standard personal loans is that they're based on the equity that a homeowner has in their house or real estate.
“Equity” is a fairly common term, appearing in advertisements for a variety of lending services, but many people aren't completely sure what equity is especially in relation to secured homeowner loans.
If you fall into this group and are confused by equity, it's actually quite simple. Equity is the portion of your home that you actually “own”… it's a measure of how much of your mortgage you've paid off.
The more equity you have, the more money you have invested in your house… and the more you can convert into useful secured homeowner loans should you
need to.
The equity is considered to be the collateral for the loan, and larger amounts of equity usually translate into larger maximum loan amounts.
Shopping for a loan
When you're in the market for secured homeowner loans, you need to make sure not to blindly take the first loan rate that you're offered.
You can often find lower interest rates and more flexible repayment terms for secured homeowner loans if you shop around for quotes before committing to an agreement with any lender… visit several banks, finance companies, and other lenders and have them calculate a quote for you so that you can compare the offers at your leisure.
Taking the extra time to get several quotes for secured homeowner loans beforehand helps you to discover what the average offered rates and terms are, and also shows you which lenders offer the lowest interest rates and the best loan terms.
This way, you can make an informed decision in regards to your financial needs and will often end up saving quite a bit of time and money in the long run.
You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.
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Personal Any Purpose Loans : Loans.co.uk : Personal Loans UK |
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FinAid | Student Loans |
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GovLoans.gov - Find the Right Loan for You |
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Loan - Wikipedia, the free encyclopedia |
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Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
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Mortgage Loans - Compare Mortgage Rates - MSN Money |
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The Student Loans Company Ltd. |
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Loan Guaranty Service, Home Page (U.S. Department of Veterans Affairs) |
This page provides content and information related to the Loan Guaranty Home Loan Program. |
www.homeloans.va.gov |
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Fool.co.uk - Compare Loans - Personal Loans and Unsecured Loans |
Compare over 200 UK loans including personal loans, secured loans, and unsecured loans. Search all loans and apply online. |
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LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
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Direct Loan Home Page |
The US Department of Education's lending arm for students in participating schools and student loan consolidation. |
www.ed.gov |
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Personal, home equity loans for union members at Union Plus |
Union Privilege offers Union Plus benefits -- including credit card, mortgage, loans, insurance, scholarships, health care savings and other discounts -- to ... |
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Countrywide Financial - Home Loans - Equity Loan Mortgages ... |
Countrywide Home Loans is the nations largest independent mortgage lender offering home equity, HELOC, refinance, mortgages, debt consolidation and other ... |
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Secured Loans UK - Secured Personal Loans - accepted.co.uk |
We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
www.accepted.co.uk |
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UK Loans : Personal Loans, Secured Loans, Cheap Loan Quotes |
The UK Personal Loan Store offers comparisons of the UK loans, personal and secured loans. Also offers tips, articles and latest loan news section. |
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