This is the 4th entry in our Home Buying series. There are links to the other entries at the end of this article. Buying a home can be a long,…
Tag: credit
When you apply for a mortgage it can be really hard to keep track of all of the different jargon and options (we have some help here.) Different lenders may…
Pre-approval. Mortgage pre-approval is a common first step to getting a mortgage, and shows sellers you’re serious about buying a home. You don’t have to have a specific home picked…
It can be hard to get a loan. Whether it’s a mortgage, a student loan, an auto loan, or even a credit card, getting a loan can be difficult. And…
Underwriting is the process a lender undergoes to determine if a potential loan is an acceptable credit risk i.e. is the borrower likely to repay the loan? An underwriter will look…
Debt. It’s easy to build and hard to get rid of. We break down the different types, which details matter, and how to make a plan to pay off your…
Collateral is any item(s) of value (assets) designated as security to a lender when you take a secured loan. In the event that you’re unable to make payments, the lender…
An installment loan is a lump sum borrowed all at once and re-payed over a fixed period of time. Payments (known as installments) are typically monthly, but can vary depending on the…
Secured debt is a loan backed by assets (collateral), such as a home or car which “secures the loan” with an item that the lenders can take ownership of and…