Credit card basic information

When choosing a credit card think about how you'll use it. You may want to compare some of the features of various credit cards to see which one will suit your financial needs.

Consider the annual percentage rate or APR. The APR measures the cost of credit on an annual basis and may be the easiest way to compare costs among credit cards. Usually, the lower the APR, the less you'll be charged for credit. The APR includes the interest rate and other costs, such as service charges or loan fees. If you expect to pay back less than the full amount you charge each month, you'll have to pay finance charges on the unpaid balance. In this case, choose a card with a low APR.

Examine the annual fees. Many companies charge an annual fee, no matter how much or little you use your card. If you intend to pay your credit card bills in full each month, you won't have to pay monthly finance charges, so a card with a low or no annual fee will be more important to you than one with a low APR.

Find out if a card offers a grace period. A grace period allows you to avoid finance charges if you pay your bill before its due date. Some cards have no grace period and begin to impose finance charges the day you charge an item. Other cards offer grace periods from 21 to 30 days. Cards with longer grace periods will save you money if you pay all of your charges each month.

Finally, check card offers to see if you will be charged a fee for paying your bill late or going over your assigned limit. These types of additional charges add to the total cost of using your credit card.

Credit Cards related articles:
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• Credit Card Terms
• Credit cards Dispute
• Avoiding Credit and Charge Card Fraud
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Make Debt Consolidation Firm Working for You

Finding yourself under huge debt is a nightmare turned reality for many people. No matter how hard they try to pay off their debt it just never seems to go down. This is where debt consolidation comes in. Debt consolidation allows you to have one bill from one company every month.

The first important step is finding a debt consolidation company that is right for you. You can take advantage of the internet to make your search. Look at the review of other people like you, find the best recommendations.
The company that you choose will send you a monthly statement with all of your bills consolidated into one. They are the only company you will have to pay for.

This can be great advantage for those who have trouble keeping track of the numerous bills they need to pay each month. You won't miss or forget a payment. This can also be good for those who have many different, and possibly high, interest rates. Since the debt consolidation company will give you only one interest rate. Make sure that it will be much lower than many of your current rates, which will reduce your overall payment.

You no longer have to avoid creditors calling you. Since you are only dealing with one company there will only be one creditor to discuss any issues you may be having and one person to negotiate your payment plan.

However, there are many unreliable credit consolidation companies out there with only one goal in mind - to profit off of you and take your money. These are the types of companies that you should be avoiding!

How do you know which company is a legitimate company looking to truly help you? First, try to move away from companies who try to sign you into an agreement quickly or who do not take the time, to have an in-person consultation between you and one of their consultants

A good company will then determine if they can give you a lower monthly payment, without raising your overall repayment by doing things such as giving you a higher interest rate, than you already have. If so, they will let you know how much your payments will be and also help you determine exactly how long it will take to pay off.

Check your local Better Business Bureau, and any other consumer reporting agency you can find, to make sure there are not an overload of complaints about the particular company. If they have not been around long enough to tell then it is wise to go with a different company instead.

Debt consolidation can help you take control of your bills and mounting debt if it is done right. You have to pick the company you choose carefully and remember not to jump into an agreement to quickly. Take some time to read over and inspect any contract you are asked to sign.

Get Out Of Debt

You're drowning in debt, credit card bills are piling up and you are highly stressed. Over 70% of the American population is seriously in debt. There are debt consolidation companies out there who claim they can help consolidate your payments and work with your credit card companies to get your interest rates down; but beware of such claims. I cannot count how many companies like these have gone under or have been in a negative spotlight because they have not followed through with their claims. Many people have lost money and ended up having to file bankruptcy because a debt consolidation company burned them. Don't get me wrong there are some good companies out there that will help you with your credit and debt problems, but you need to research different companies in order to find a reputable company. The first thing you should do is be sure to verify with the Better Business Bureau that the company doesn't have any complaints on record, if they do this should raise a "red flag" immediately. Another option is to check with family, friends and colleagues to see if they have used any of these companies or if they know of a good one.

You should be aware of:

1. If you are having them pay your payments for you it will show up on your credit report. This usually lowers your credit score because creditors and financial institutions see it as one step before bankruptcy. Make sure you know what you are getting into and understand your contract completely.
2. Explore the option of a home equity loan or line of credit. Banks usually offer better rates on home equity loans plus they have an advantage; they are tax deductible. If you have equity in your house and your credit history is fair, a home equity loan could be a great alternative for you to be able to manage your debt and pay it off quicker. There are so many programs available that there's a good chance you will be able to find one that will work for you. You need to choose a reputable bank or mortgage company and make sure you select a trustworthy loan officer.
3. Credit unions are also a good option because they want to loan money for the interest and most of the time the loan officers aren't expecting a big commission check.
4. Call up your credit card companies and try to negotiate a lower interest rate. Second, check to see if you can transfer balances to a lower rate. Start with the highest interest rate and go down.
5. A mound of debt doesn't have to mean bankruptcy is the only choice. If your debt is out of control and you think you have run out of options then review the suggestions listed above and see if there is one that can work for you. Don't quit, with a little effort and research, you will be able to get your finances under control.

Before Choosing a Credit Counselor

1. Look for an organization that offers a range of services, including budget counseling, savings and debt management classes, and counselors who are trained and certified in consumer credit, money and debt management, and budgeting. Counselors should discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems now and avoid others in the future. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.

2. Avoid organizations that push a debt management plan as your only option before they spend a significant amount of time analyzing your financial situation. DMPs are not for everyone. You should sign up for a DMP only after a certified credit counselor has spent time thoroughly reviewing your financial situation, and has offered you customized advice on managing your money.

3. Many states require that an organization register or obtain a license before offering credit counseling, debt management plans, and similar services. Do not hire an organization that has not fulfilled the requirements for your state.

4. Avoid organizations that charge for information about the nature of their services.

5. Don't commit to participate in a DMP over the telephone. Get all verbal promises in writing. Read all documents carefully before you sign them. If you are told you need to act immediately, consider finding another organization.

6. Try to use an organization whose counselors are trained by an outside organization that is not affiliated with creditors.

7. Get a detailed price quote in writing, and specifically ask whether all the fees are covered in the quote. If you're concerned that you cannot afford to pay your fees, ask if the organization waives or reduces fees when providing counseling to consumers in your circumstances. If an organization won't help you because you can't afford to pay, look elsewhere for help.

8. Credit counseling organizations handle your most sensitive financial information. The organization should have safeguards in place to protect the privacy of this information and prevent misuse.

Debt Consolidation Loans

Debt consolidation loans are personal loans that allow people to consolidate their debt into one monthly payment. The payments are often lower because the loan is spread out over a much longer period of time. With one monthly payment and a fixed monthly payment schedule, you may actually see the end to those monthly payments.

Although the monthly payment may be lower, the true cost of the loan is often dramatically increased when the additional costs over the term of the loan are factored in.

The interest rates on personal debt consolidation loans are usually high, especially for people with financial problems. If you have a lot of debt, it can be hard to find a consolidation loan at a lower interest rate. Lenders frequently target people in vulnerable situations with troubled credit by offering what appears to be an easy solution.

Personal debt consolidation loans can be either secured or unsecured. Unsecured loans are made based upon a promise to pay, while secured loans require collateral. Upon default of the loan payment in a secured loan, the creditor has a right to repossess any of the items listed as collateral for the loan. In many states, a person filing bankruptcy can remove the lien on the household goods listed as collateral and eliminate the debt.

Be careful about putting up your valued property as collateral. With high interest rates and aggressive collections, you might find yourself scrambling to save your car or personal property. If you're not careful, you can end up deeper in debt than when you started.

Mortgage rate and real estate appreciation

The labor market improved in December, with the addition of 157,000 payroll jobs. Coupled with the upward revision of 34,000 jobs for the prior two months, 2.2 million jobs were created during 2004 – the most in a single year since 1999. The manufacturing sector also added jobs in December, consistent with late 2004 reports of a pickup in factory orders during the fourth quarter. The decline in the foreign exchange value of the dollar is likely to support additional manufacturing gains in coming months.

The minutes of the Federal Open Market Committee's (FOMC) December meeting confirm that the Fed views monetary policy as accommodative and this accommodation could be removed at a “measured” pace. In plain English, this means that the Fed is very likely to continue the course it started on last June—that is, quarter-percentage point increases in the Federal Funds target, announced at FOMC meetings, but not necessarily at every FOMC meeting. The FOMC is likely to nudge the Federal Funds target up to 2.5% at its next meeting (February 1-2), with further increases later in the year. We anticipate that the Federal Funds target will be set at 3.0% by midyear and at 3.5% by year-end. With inflation remaining tame (between 2% and 2.25% in 2005), the outlook for long-term interest rates, such as on fixed-rate mortgages, also remains very good, with fixed-rate mortgages up only about one-half of a percentage point over the year. Thus, the yield curve should continue to flatten over 2005, as it did over the second half of last year.

Higher, but still modest, mortgage rates means that the housing market should have another splendid year in 2005. Housing starts and home sales should fall short of the record pace of last year, but only by 1% to 2%. House price appreciation should also moderate, but come in at a brisk 7% appreciation pace for the average single-family house.

The flatter yield curve will likely entice lenders to increase the size of interest-rate discounts that they offer on ARM products in order to maintain ARM volume. Initial-rate discounts increased from 0.4 percentage points at the beginning of 2004 to 1.3 percentage points at the beginning of this year for the 1-year, Treasury-indexed product. The flatter yield curve will likely increase consumer interest in hybrid ARMs; the 5/1 hybrid is already the most popular ARM product, accounting for two-in-five ARM loans made last year. Higher mortgage rates will further reduce refinance originations as the year unfolds. Homeowners are likely to resort to HELOCs and other second-lien products to convert home equity into cash; over the year ended September 30, 2004, HELOCs and seconds accounted for almost 20% of single-family debt growth, and should contribute significantly to debt growth in 2005.

Bridging Loan

A bridging loan is a high interest, short term loan you would choose when you have a requirement for short term specific funding. For instance, a bridging loan is a loan used to “bridge” the financial gap between capital required for your new property completion prior to your existing property having been sold.

Bridging loans are short term loans arranged when you need to purchase a house but are unable to arrange the mortgage immediately for some reason, such as there is a delay in selling your existing property. Timing is of the essence when selling one property and buying another.

A bridging loan can be used to raise capital pending the sale of a property.

Bridging loans can be arranged for any sum and can be borrowed for periods from a week to up to 1-2 years. Because of the nature of bridging loans they can usually be arranged at short notice and within a few days.

A bridging loan is similar to a mortgage where the amount borrowed is secured on your home but the advantage of a mortgage is that it attracts a much lower interest rate. While bridging loans are convenient the interest rates can be very high. When considering a bridging loan, remember that you may be paying not only for the bridging loan but also for the mortgage on your existing property.

Prime Loan Interest Rate

Prime Loan Interest Rate Forecast

%, Average of Month.

	Aug 2005	Sep 2005	Oct 2005	Nov 2005	Dec 2005
Forecast Value	6.25	6.50	6.50	6.50	6.50
Standard Deviation	0.1	0.1	0.1	0.2	0.3

Three major Factors In Your Interest Rate

There are three major factors that affect how much interest you pay for a loan or for your mortgage.

1. Federal Reserve Discount Interest Rate.

Banks and other lending institutions borrow money from the Federal Reserve Banks. The discount rate is the interest rate a Federal Reserve Bank charges financial institutions to borrow funds on a short-term basis. This rate is set by the boards of directors of the Federal Reserve Banks. The discount rate has a direct effect on the “Prime Interest Rate”, which is the interest rate on short-term loans that banks charge their commercial customers with high credit ratings.

This is probably the most important factor; however as consumers we don't have any option to control it.

2. Lender Business Factors.

Banks and other lenders are in business to make money. If they charge lower interest rate, based on your credit history and the prime rate, they risk going out of business. If they charge too much, they risk losing you to a competitor. Therefore, in order to get the best deal you can, you should always shop around and make sure you get the best deal out there.

You should remember that one of the things that affects your credit score is the number of times your credit report has been accessed in a certain period of time. Therefore allowing too many potential lenders to run your credit report in a short period of time could be not useful at all.

3. Credit Report and your FICO Score

There are companies that gather and sell information about where you work and live, how you pay your bills, and whether you've been filed for bankruptcy. They are called Consumer Reporting Agencies (CRAs). The most common type of CRA is the credit bureau. Potential lenders will ask your credit report from one of the three major credit bureau.

You can help your FICO score and credit report by paying your bills on time and not getting into bug debt. You also have the right to have false information removed from your credit report.

In order to get the best rate you can, you can do few things; keep up a good credit history by paying your bills on time, and shopping around for the best rate.

The interest rate on the home equity loan

Interest rates for loans differ, so it pays to check with several lenders for the lowest rate. Compare the annual percentage rate (APR), which indicates the cost of credit on a yearly basis. Be aware that the advertised APR for home equity credit lines is based on interest alone. For a true comparison of credit costs, compare other charges, such as points and closing costs, which will add to the cost of your home equity loan. This is especially important if you are comparing a home equity credit line with a traditional installment (or second) mortgage, where the APR includes the total credit costs for the loan.

In addition, ask about the type of interest rates available for the home equity plan. Most home equity credit lines have variable interest rates. These variable rates may offer lower monthly payments at first, but during the rest of the repayment period the payments may change and may be higher. Fixed interest rates, if available, may be slightly higher initially than variable rates, but fixed rates offer stable monthly payments over the life of the credit line.

If you are considering a variable rate, check and compare the terms. Check the periodic cap, which is the limit on interest rate changes at one time. Also, check the lifetime cap, which is the limit on interest rate changes throughout the loan term. Ask the lender which index is used and how much and how often it can change. An index (such as the prime rate) is used by lenders to determine how much to raise or lower interest rates. Also, check the margin, which is an amount added to the index that determines the interest you are charged. In addition, inquire whether you can convert your variable rate loan to a fixed rate at some future time.

Sometimes, lenders offer a temporarily discounted interest rate -- a rate that is unusually low and lasts only for an introductory period, such as six months. During this time, your monthly payments are lower too. After the introductory period ends, however, your rate (and payments) increases to the true market level (the index plus the margin). So, ask if the rate you are offered is "discounted," and if so, find out how the rate will be determined at the end of the discount period and how much larger your payments could be at that time.

Recommended Home Equity Loans Companies

Home Equity Loans related articles & information:
• Three major Factors In Your Interest Rate
• Home Equity Loans
• Prime Loan Interest Rate Forecast
• 30 Year U.S. Treasury Bond Yield Forecast
• Bridging Loan
• Home Equity Loan - Basic
• Is a home equity credit line for you?
• How much money can you get on a home equity loan?
• The interest rate on the home equity loan <--You are here
• Cost involving home equity loan
• Fixed rate versus adjustable rate loans

Equity Home Loans

Apart from what the people who read this article imagined about

the hot potato which is low home loan before, the textual item that appears before you is without a doubt going to sweep you off your feet.

Are you puzzled because of the extreme number of loans intended in order to let you tap into your value? Those choices seem endless, however they don`t need to be `too much of a good thing.` The initial step concerning selecting that appropriate equity loans choice is selecting how you require the money. The next advance alternatives are given via terms of if you desire cash in a total amount which will be ideal on behalf of immediate needs like residence improvement events and/or a vacation, or lesser, incremental withdrawals that is best on behalf of college tuition payments.

Cash-out Refinance-Lump sum

If you`re looking for a whole amount of wealth, and rates with beginning mortgages become less, the cash-out refinance is a good decision. It involves refinancing the initial mortgage and then cashing-out a whole amount of equity. In this, closure fees will be higher than those of a 2nd mortgage. However, if prices on behalf of first mortgages are lower than what you at present have, you may wind up having a `hat trick`: The lower payment amount, over-time accrual savings, plus that cash that you have to have. Having the `hat trick` such as that, your financial existence will not exist as unsteady.

property loan- Whole amount

The property loan retains a set value plus time period, and, like its other part, a home value credit source, has been considered the `second mortgage.` Since initial mortgages have to become completed `first,` in the case that a lender is forced to sell any residence because of any loan non-payment, lending establishments apply a slightly greater rate on behalf of 2nd mortgages. Though, if your primary mortgage is at a low rate, that home loans on line could become just the ticket for a lump sum money collection.

Home Value Line of Credit-Incremental withdrawals

A Home Worth Line of Credit, similar to a online home equity loans, has a larger rate of interest than an initial mortgage. It is a popular alternative on behalf of people who are looking to use the worth on behalf of recurring expenditures which spread out during time. Borrowers who need to make school costs decide on House Worth Line of Credit since those work like credit cards: You have your prior-set credit limit, that you may draw upon while you require it. You`re only assessed interest upon the sum that you utilize, and the rate is generally joined to a prime lending value, which is comparatively stable.

Here are the three main well-liked ways in order to change the worth in your home to cash. All that you are required to do will be resolve if you want a whole amount or incremental withdrawals. Once you make this decision, refer to those general guidelines listed above. This should narrow down that large world of borrowing alternatives to the home loan which meets every one of your wants.

Searching about other Low Home Loan related articles? Select from:

1. Application Low Home Loan: Low Home Loan Application overall education
2. Compare Low Home Loan Companies - welcome - Compare Low Home Loan
3. Low Home Loan Closing Cost: informative Home Equity Closing review
4. Low Home Loan Quotes`s basic details
5. Low Home Loan Lender
6. No Low Home Loan

Sbi's New Home Loan Offer

The new home loan rate offered by SBI may look attractive in the first three years, but in the long term of 20 years, it might not be economical compared to other lending institutions, if SBI continues to cut the benchmark prime lending rate (BPLR) selectively. However, if SBI cuts BPLR aggressively in future, the situation can change.

According to the new offer, SBI will charge 8% interest rate for the first year, 9% for second and third year on loan up to Rs 30 lakh and two percentage points below the BPLR for the period beyond that. Similarly, in case of home loan of more than Rs 30 lakh, the interest rate for the first year will be 8%, for second and third year 9.5% and beyond that it will be pegged at one percentage point lower than its BPLR.

As present BPLR of SBI is 11.75% So its interest rate on loan of less than Rs 30 lakh will be 9.75% and on more than Rs 30 lakh will be 10.75% after three years. As against this, home loan up to Rs 30 lakh is available at 9.25% from HDFC and ICICI Bank.

Interest rate on loans of more than Rs 30 lakh from HDFC will also cost you 9.25%. But, from ICICI Bank it will be between 10% and 11%. If the condition remains like this, the rate on loan of more than Rs 30 lakh for SBI during second and third year at 9.50% will be higher than that of HDFC's 9.25%.

The interest rate on the loan between fourth and the 20th year of repayment will be cheaper if you borrow it from HDFC and other institutions. However, in future if SBI cuts its BPLR aggressively and brings its BPLR-connected home loan rates below other institutions, the present SBI offer will become attractive.

If the present condition continues, the effective interest rate on home loans up to Rs 30 lakh for 20 years from SBI will be 9.35%. But, the effective interest rate on loan of more than Rs 30 lakh would be 10.09%, which is substantially higher than that of HDFC. However, for the first year, SBI's rate is much cheaper than that of the other banks and institutions

USA PrimeLoans

USA Prime Loans helps find the best loan for you.
We are dedicated to bringing local borrowers and lenders together.

We know you need fast pre-approval at a great rate. We are a mortgage broker referral service. Once you fill in the no charge no obligation home loans application form you will get up to four home loans quotes. Multiple quotes for home loans is the way to make sure you are getting the most competitive rates and a loan you will be happy with.

We believe that you should have a choice in home loans. Choice means power and it puts you in the driver's seat.

You get multiple bids on your pre-approved loan. Having a choice of home loans helps you choose the best loan.

With our simple home loans application you quickly get the best loan for your budget.

As you enter information on our secure home loans site, we tailor the home loans application for your needs.

Because we customize your home loans application to you and your needs, you apply for the right loan right away.

Just click your state on our map and you can start a secure, personal home loan application today. It's free, it's easy and best of all it puts you in charge. Get your home loan your way.

National Home Loan Advocates

DALLAS, June 25 /PRNewswire/ -- National Home Loan Advocates announces new services to help consumers avoid mortgages that have inflated fees, interest rates that are too high, and home loans that contain predatory terms.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090625/DA38147LOGO)

NHLA (www.NationalHomeLoanAdvocates.com) is a consumer advocacy company, not a lender, and works in the best interest of the consumer by providing expert, independent assistance through the mortgage process. NHLA offers a variety of affordable service options to give their customers the confidence to shop, apply, and close a home loan with their best terms.

"The mortgage marketplace is complex, confusing and constantly changing," says David Dickey, NHLA Founder and CEO. "Unfortunately there is no way the average consumer can be sure they are getting their best mortgage terms and borrowers often experience difficulty during the mortgage process ... costing many thousands of dollars unnecessarily."

NHLA ensures their customers know their rights and they receive all the required loan disclosures that make it possible to compare lenders. Additionally, NHLA pays close attention to all of the fine print and reveals any potential problems in the loan before it is too late. "Our customers close their mortgage loans with less stress and with the peace of mind that they got a home loan that is fair and in their best interest," says Dickey.

National Home Loan Advocates arms the consumer with a Personal Home Loan Advocate(TM) to ensure they have someone looking out for their best interest every step of the way during the loan process. The customers PHLA(TM) provides personalized assistance, from application through closing, to ensure the consumer is fully educated to obtain their best mortgage terms and avoid lenders or loan terms that are not in their best interest.

National Home Loan Advocates is accredited by the Better Business Bureau and is seeking to restore consumer confidence in the mortgage marketplace by making it safer for consumers to navigate. NHLA is partnering with consumers, real estate professionals, and lenders to enhance transparency, full disclosure, and ensure fair home loan terms are accessible and equally obtained.

Visit www.NationalHomeLoanAdvocates.com to find free information, resources, and tools to help better understand the mortgage marketplace. Consumers can call NHLA Customer Service at (866)-223-4707 for a free consultation or for other questions and inquiries.

Student Loan Scheme

Pursuant to the announcement made by the Federal Finance Minister in his 2001-2002 budget speech, a STUDENTS LOAN SCHEME (SLS) for Education was launched by the Government of Pakistan in collaboration with major commercial banks of Pakistan (NBP, HBL, UBL, MCB and ABL). Under the Scheme, financial assistance is provided by way of Interest Free Loans to the meritorious students who have financial constraints for pursuing their studies in Scientific, Technical and Professional education within Pakistan.

The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.

ADMINISTRATOR OF THE SCHEME: National Bank of Pakistan

ELIGIBILITY

Under the scheme the students are eligible to apply for loans provided:

He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder.
He/She falls at the time of admission within the age bracket of:-

For Graduation: Not exceeding 21 Years
For Post-Graduation: Not exceeding 31 Years
For Ph.D: Not exceeding 36 Years

He/She has secured 70% marks in the last public examination.
He/She has undertaken the study of the subjects given below.
He/She is unable to pursue studies due to financial constraints.

Car Financing

Markup Rate:
Car Loan for Brand New Vehicles: 14.00% to 15.50%
Car Loan for Brand New Imported Vehicles: 16.00%

Car Loan for New Commercial Vehicles: 15.50%
Car Loan for Used Vehicles (Local Assembled Only): 17.00%
Car Loan for Internal / External BTF (Local Assembled): 16.00%
Car Loan for Internal BTF (Imported): 17.00%

Application Processing Charges: Rs. 4,000/-

Vehicle Evaluation Charges: Minimum Rs.1,000/- upto a maximum of Rs.2,000/-

Pre-Payment Charges: One year before actual termination date: 2% of principal outstanding

Vehicle Re-possession Charges: "Actual incurred by the bank upto a maximum of Rs. 75,000/-

Additional Information:

2 years before actual termination date: 3% of principal outstanding
3 years before actual termination date: 4% of principal outstanding
4 years before actual termination date: 5% of principal outstanding"

Cheque Returned Charges: Rs. 500/-

Survey charges for repossessed vehicle: Rs. 1,000/-
Warehouse charges for repossessed vehicle: Rs.1,000/-Month"




Quickest processing.

No hidden charges.

Minimum down payment.

Complete repayment at any point of time.

Balance transfer facility {BTF} for existing as well as new clients from other Banks.

Tenure period ranging from 1 to 5 years.

Financing of all brand new locally assembled vehicles and used cars.

Financing limit ranging between Rs. 200,000/- to Rs. 2000,000/- for brand new cars.

Mortgage Finance

Ever since the inception of life, shelter has been rated among the primary needs of mankind. Owning a home for oneself still remains an exclusive dream for many. Askari Bank has made the realization of your dream to have a house of your very own possible. Whether you plan to build a house, tailor made to your requirements or buy a constructed house, Askari mortgage finance enables you to pursue your goal without any problems.

Product Featuring

Borrower: Resident Pakistani Nationals.
Financing Limits: Maximum upto Rs. 30 Million.
Tenor: Maximum upto 20 years.
Repayment: Monthly Installments.
Prime Security: Mortgage of property.
Markup Rates: Competitive
Servicing: Available at all Askari Bank Branches
Balance Transfer Facility: Available
Balance Transfer Facility: Available.

Eligibility Criteria

Age: Between 21 to 65 years.
Income:
a) Salaried: Minimum gross monthly income of Rs.20,000/- only and a permanent employee with atleast 2 years of service including present employer.
b) Self Employed: Minimum length of 1 years in business.
Charges/Fees: As per current schedule of charges.

Further Information

If you need any further information / assistance, please contact your nearest Askari Bank branch or call at 0800-00078

Gold Credit Card

With your Allied Visa Gold Credit Card every Pakistani can now enjoy the benefits of a Gold Card internationally with unmatched savings greater flexibility, convenience and security.

FEATURES

Buy Now,Pay Later
With your Allied Visa Gold Credit Card, your free credit period allows you to pay for your purchases up to 50 days after the date of purchase. So now you can buy all the things you want - whenever you want - at your own convenience.

Flexible Repayment
When paying your credit card bill, your Allied Visa Gold Credit Card gives you the option to either pay the entire amount according to your statement or a minimum of 5% of your total outstanding balance.

Cash Advance Facility
As an Allied Visa Gold Credit Card member, you are entitled up to 75% of your available credit limit in cash. Just go to your nearest ATM with the VISA or PLUS sign and avail the facility of withdrawing cash 24 hours a day.

Allied Easy Installments (AEI)
The Allied Easy Installments (AEI) plan provides you with the facility to pay your outstanding card balance in equal and affordable monthly installments spread over 3, 6, 12, 18, 24, 30 or 36 months. So now you can easily afford anything from everyday household appliances to exotic vacations abroad.

Supplementary Cards
Want to share the benefits of your Allied Visa Gold Credit Card with others? Now you can! Treat up to two people with supplementary credit cards and pass on the many privileges of your Allied Visa Gold Credit Card to your chosen friends and family members.

Balance Transfer Facility

In case you have outstanding balances on other cards, consolidate these onto your Allied Visa Gold Credit Card with the lowest BTF rate and save more on your outstanding payments than ever before.

Credit Protection Plus
With Credit Protection Plus, your Allied Visa Gold Credit Card provides payment cover against:

Death, due to accident or sickness
Permanent and Total Disability, due to sickness or accident
Temporary Total Disability, due to sickness or accident
Terminal Illness


Zero Loss Liability
The Allied Visa Gold Credit Card�s Zero Loss Liability feature protects you from paying for any unauthorized transactions on your Card in the event that it is lost or stolen. Please notify Allied Phone Banking immediately on 0800-22522 (within Pakistan) or on 9221-5301094 (outside Pakistan) in case your Card is lost or stolen.

24-hour Allied Phone Banking
For any information and queries about your Allied Visa Gold Card, call Allied Phone Banking on 0800-22522. If you are calling from outside the country, please dial 9221-5301094.

Free CIP Lounge Access
As an Allied Visa Gold Credit Cardholder, you are eligible to avail the free lounge facility at Quaid-e-Azam International Airport, Karachi and enjoy a variety of complimentary features.

Relax while you watch leading television channels or select something to read from an updated library of newspapers and periodicals. Also feel free to plug in your laptop and mobile phone into the charging facilities provided or browse the internet or send and receive faxes while you wait. You can also treat yourself to a wide assortment of high quality snacks, beverages and fresh fruits

American Express Credit Card

Standard Chartered proudly introduces the American Express Credit Card with its unmatched power, wide ranging prestige and complete financial flexibility. The Card is your one stop ticket to getting the finer things in life, while enjoying the success and recognition that you deserve.

Special Prviliges

• American Express SELECTS^SM brings you a world of privileges with an exciting selection of year round offers and savings. Wherever you find yourself, from New York to London to Sydney, you'll enjoy exceptional value and privileges in travel, leisure, dining and shopping. So use your card now and discover an array of attractive benefits in key destinations worldwide.


• Dining the American Express Way:
  Indulge in the finer things in life.[We could not gather more information about this feature from Standard Chartered website]

Features

Host of special benefits offered on American Express Credit Card:

• Instant Recognition:
  The American Express Credit Card is warmly welcomed at thousands of merchant establishments in Pakistan and millions worldwide. You can rely on it as your trustworthy partner while dining, shopping, and traveling or simply spending on a daily basis.


• Revolving Facility:
  American Express Credit Card offers you the option of paying your monthly outstanding balance in full or over a period of time. A service charge of only 3% per month gives you an added comfort in managing your finances every month.


• Balance Transfer:
  You can conveniently transfer the balances from your other credit or charge cards to the American Express Credit Card. With a balance transfer rate of only 1.67% per month, you may enjoy substantial savings on the service charges.


• Express Cash:
  You can use the American Express Credit Card to avail instant cash advance facility from 168 designated ATMs of Standard Chartered Bank in Pakistan and over 550,000 ATMs worldwide.


• Travel Service Locations:
  American Express Credit Card has the power to redefine traveling, whether within the country or across the globe. The dedicated staff in more than 1700 American Express Travel Service Offices in over 130 countries is readily available to assist Card members with their travel-related needs. Invaluable assistance can be provided for travel arrangements, car rentals, local area/culture information and hotel bookings etc.


• CIP Lounge:
  In Pakistan, the American Express Credit Card can become your gateway to the CIP Lounge (International Departures) at Jinnah International Airport, Karachi. Just present The Card and enjoy enviable royal treatment at absolutely no charge.


• Marhaba - Meet and Greet Service:
  You can avail complimentary Marhaba - Meet and Greet Service on international travels at the Quaid-e-Azam International Airport Karachi. Trained staff of Marhaba will escort you through all check-ins to minimise the hassle of standing in long queues at the airport. The service is available at special rates and accompanying family members and friends, on both domestic and international flights.


• Free Travel Accident Insurance:
  Every time you use the American Express Credit Card to purchase airline or railway tickets, you and your spouse along with any dependent children under 23 years of age are automatically covered through Travel Accident Insurance. The cover amount is Rs. 60,00,000 on the Green Card and Rs. 1,20,00,000 on the Gold Card.


• Global Assist:
  If you are traveling outside Pakistan, you can depend on the American Express Credit Card in the event of any medical or legal emergency. American Express' attentive staff can promptly get you in touch with a doctor or lawyer in your locality through a simple phone call, anytime of the day.


• Membership Rewards:
  The American Express Credit Card earns you 1 Membership Reward point for every Rs. 50 spent on the Card (excluding cash advance and balance transfers). These points can easily be translated into exciting gifts from a wide range of categories including travel, retail, fashion, and dining to name a few.


• Supplementary Cards:
  You can also share the power, prestige and benefits of the Card with up to five family members, in the form of Supplementary Credit Cards. And the good news is that the spending on your supplementary cards will be added on to your Membership Reward points, bringing that coveted gift of your choice even closer to you.


• 24 - Hour Toll-Free Customer Service:
  As an American Express Card member you can enjoy round-the-clock access to customer service from virtually anywhere in the world.

PERSONAL LOAN

One can avail unlimited opportunities through Askari Bank’s Personal Finance. With unmatched financing features in terms of loan amount, payback period and most affordable monthly installments, Askari Bank’s Personal Finance makes sure that you get the most out of your loan. No matter what your need is, Askari Bank has more ways to serve you than ever before.

Product Featuring:

Borrower: Resident Pakistani Nationals.
Facility: Term Finance
Financing Limits: Maximum upto Rs. 500,000/. (Clean)
Maximum upto Rs. 1 Million. (Secured)
Tenor: Maximum upto 5 Years
Repayment: Monthly Installments
Markup Rates: Competitive
Servicing: Available at all Askari Bank branches
Balance Transfer Facility: Available

Eligibility

Age: Between 21 to 65 years.
Income: Minimum gross monthly income of Rs. 10,000/- only.
Financing Limits: Maximum upto Rs. 500,000/. (Clean)
Employment:
a) Salaried: Minimum length of confirmed service with present employer is 6 months with a total length of 1 year service.
b) Self Employed: Minimum 1 year in business.
Charges/Fees: As per current schedule of charges.

When you are working towards your financial goals, how you borrow can be just as important as how you invest. The right borrowing options can improve your savings, your cash flow and your ability to take advantage of personal or business opportunities.

So, choose the right options and call us now to enquire about your entitlement amount and exclusive service. At Askari bank we make every effort to serve our customers with care.

Not restricted to new financing, under Personal Finance scheme, we offer extended facilities, which are:

Back to Original:
Under this scheme borrower can avail extended amount of finance upto the utilized allocated amount, if his/her repayments are regular.

Balance Transfer Facility:
It gives the customer the opportunity to pay off his/her outstanding dues on their credit cards or other loans at a rate of interest much lower than what one pays on them. That not only frees up their credit limit, but cost of servicing the debt is greatly reduced.

Computer Loans:
This scheme was launched to promote the I.T. technology in the country. In this regard, we have signed MOU’s with Multinational companies and large local corporates including schools & colleges.

Dream Life (Financing for Consumer Durables):
We are the financial market player in delivering quality service to customers with highly professional standards. We have joined hands with various Electronic Companies for sale, of the domestic appliances against consumer financing. Under this scheme, Askari Bank is financing products of these companies, which would benefit those people who can only afford to buy home appliances on installments due to limited resources. In addition to this, we have also signed agreements with other top manufacturers of automobiles for financing of motorcycles to the general public at most competitive rates.

Further Information

If you need any further information / assistance, please contact your nearest Askari Bank branch or call at 0800-00078

Student Loan

Pursuant to the announcement made by the Federal Finance Minister in his 2001-2002 budget speech, a STUDENTS LOAN SCHEME (SLS) for Education was launched by the Government of Pakistan in collaboration with major commercial banks of Pakistan (NBP, HBL, UBL, MCB and ABL). Under the Scheme, financial assistance is provided by way of Interest Free Loans to the meritorious students who have financial constraints for pursuing their studies in Scientific, Technical and Professional education within Pakistan.

The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.

ADMINISTRATOR OF THE SCHEME: National Bank of Pakistan

ELIGIBILITY

Under the scheme the students are eligible to apply for loans provided:

He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder.
He/She falls at the time of admission within the age bracket of:-

For Graduation: Not exceeding 21 Years
For Post-Graduation: Not exceeding 31 Years
For Ph.D: Not exceeding 36 Years

He/She has secured 70% marks in the last public examination.
He/She has undertaken the study of the subjects given below.
He/She is unable to pursue studies due to financial constraints

Credit Card debt

Credit card debt is a revolving source of borrowed money, usually paid for with relatively high interest rates. Based on a user's credit history, a credit limit and interest rate is established. Through purchases and cash withdrawals, the user borrows some or all of that available credit. Interest charges are added to the debt. The cardholder is billed monthly and may pay the debt back in increments ranging from a very low minimum payment up to the full amount. If any debt remains after each payment, interest is charged on the full amount in the next monthly billing. This can result in interest being charged on previous interest charges, which is known as compounded interest.

For some, this revolving debt is used merely as a convenient replacement for pocket cash. Purchases are made on a daily basis in person or online, and the card debt is paid in full at the end of every month. For others, it is a way to survive between paychecks. Their balance may rise or fall based on their current ability to pay.

The worse case scenario finds a credit card user opting to make minimum or partial payments each month. Their credit balance, or debt, grows steadily. If the credit limit is reached on a card, it can no longer be used for purchases. However, interest continues to be added to the debt and making the required monthly minimum payment may be the only way to avoid being sent to collection. The user is on the verge of adversely affecting their credit rating for years to come.

Some credit card users put off the inevitable a bit longer by practicing revolving charges, also known as kiting. One card's balance is paid with another credit card, which is in turn paid by another credit card. This practice cannot be sustained indefinitely. It may be considered fraud if the intent is to avoid paying the debts at all.

FHASecure

As Senate leaders continue to hash out a housing rescue proposal expected to reach a key committee vote later this week, officials in the Bush administration are touting the growing success of a Federal Housing Administration program launched last August. Called FHASecure, housing officials last week said that the product has helped 200,000 homeowners refinance their mortgages and avoid foreclosure.

“Over the past several months, FHA has been working to help families who want permanent relief from their high cost subprime mortgages,” said Deputy Secretary of Housing and Urban Development Roy Bernardi. “We are proud to have helped these struggling homeowners keep their homes.”

Applications for FHASecure loans are largely what has driven a huge spike in FHA application volume during the past three months, with numerous brokers reporting to Housing Wire that the FHA-led program is often the only resort many subprime borrowers have available to them when looking to refinance and avoid potential problems.

Home Payday Loan

On the plus side, if you are facing a true emergency and you need cash fast, payday loans can be a decent solution. If you are gainfully employed, you normally will qualify for payday loans. This is the case in many instances even if you've got less than perfect credit. In many instances, with payday loans you are able to get the cash that you need for an emergency immediately. You don't have to wait around - because time can be of the essence, payday loans can be solid options for you.

Also on the positive side, applying for payday loans normally is a very easy process - you can actually apply for payday loans over the Internet and obtain a loan from the comfort of your own home.

On the negative side, payday loans can be very expensive when compared to other types of financing. The interest rate associated with payday loans is higher than that of other financing options. Additionally, there normally are other costs and fees associated with payday loans that are higher than what would have to be paid with other types of financing.

In addition to be expensive propositions in some instances, payday loans are also financing vehicles that easily can be abused. There are innumerable instances of people who come to rely on payday loans to their detriment. These people end up using payday loans with regularity -- indeed, some people can be found getting payday loans to pay off payday loans. This can end up being a very costly and financially harmful way of "doing business."

If properly used payday loans can be appropriate vehicles through which a person can deal with an emergency situation.

FHASecure

As Senate leaders continue to hash out a housing rescue proposal expected to reach a key committee vote later this week, officials in the Bush administration are touting the growing success of a Federal Housing Administration program launched last August. Called FHASecure, housing officials last week said that the product has helped 200,000 homeowners refinance their mortgages and avoid foreclosure.

“Over the past several months, FHA has been working to help families who want permanent relief from their high cost subprime mortgages,” said Deputy Secretary of Housing and Urban Development Roy Bernardi. “We are proud to have helped these struggling homeowners keep their homes.”

Applications for FHASecure loans are largely what has driven a huge spike in FHA application volume during the past three months, with numerous brokers reporting to Housing Wire that the FHA-led program is often the only resort many subprime borrowers have available to them when looking to refinance and avoid potential problems.

Personal Loan for Home

There are two kinds of personal loans, secured and unsecured. Secured loans are backed by some form of collateral such as an automobile, a home or property. They are usually for longer periods of time and for larger amounts than unsecured loans. Secured loans are easier to qualify for because the lender takes on less risk with the presence of collateral. Because of the lowered risk they generally have lower interest rates. Secured loans are best for borrowing large amounts, people with bad or imperfect credit history and those that want longer repayment periods.

A higher credit score will give you a lower interest rate. Obtain a copy of your credit report from any of the major reporting agencies. Be sure you get a copy with your FICO score. Correct any errors and make sure all your bills are current, this will save you money. Lenders will use your FICO to determine your eligibility and your interest rate.

Unsecured loans do not require collateral; they are normally for less than secured loans. The upper borrowing limit is usually about $25,000 with a repayment term of 5-10 years. Some kinds of unsecured loans are cash advances, payday loans and revolving lines of credit. Unsecured loans can be used for debt consolidation, unexpected expenses, vacations, home repairs, student loans, wedding loans etc. They are ideal for people who do no own a home or property or homeowner who does not wish to pledge their home or property.

Requiring less paperwork than other loans, you can usually apply for an unsecured loan online with as little as your credit score and history, debt information and your earning history. One of the main benefits of an unsecured loan is flexibility; they can be utilized for many different kinds of purchases. The money can be available to you in as little as 24 hours.

FHASecure

“Over the past several months, FHA has been working to help families who want permanent relief from their high cost subprime mortgages,” said Deputy Secretary of Housing and Urban Development Roy Bernardi. “We are proud to have helped these struggling homeowners keep their homes.”

Applications for FHASecure loans are largely what has driven a huge spike in FHA application volume during the past three months, with numerous brokers reporting to Housing Wire that the FHA-led program is often the only resort many subprime borrowers have available to them when looking to refinance and avoid potential problems.

Home Loan Online

Obtaining a home loan online has the advantages of researching and choosing the best terms on one's own, but such lending must be carefully validated before providing personal and financial information. Once such information is registered, the user is subject to scam artists who have misrepresented their trustworthy offer, or they may become a listing to be shared by numerous online telemarketers. However, that listing can be a good opportunity to receive offers from home loan online marketers otherwise overlooked.

Lenders can be found on the web through a simple search engine keyword look-up. When obtaining lending on the web, the borrower will be expected to provide similar documentation as with any other lender. Proof of employment or income is standard information for home loans on line and off. Title clearance and appraisals will still be required and will be arranged through the lender of a home loan online. It doesn't matter if the funds are a first mortgage or a second home equity, the lender will be just as complete in his documentation if they are a quality business. The lenders are just as leery of being "taken" as the borrower must be.

A lender will likely be located at a distance from the borrower's location. Therefore, it is not uncommon for the home loan online to be completed by a broker of loans at a specified location in a metropolis nearest to the borrower. When it is time to sign the documentation, the lender will instruct the borrower where to go to finalize the deal, sign the papers, pick up checks, or other official closing business. Many times the home loans on line will fund the amount by direct deposit. Using a verified lender can be a simple process if the borrower will be sure to take the necessary precautions at the outset and cooperate with their new lender through the finalization of the arrangements.

When entering an official agreement, it pays to be cautious and "wise as serpents, and harmless as doves" (Matthew 10:16). Before signing a contract, the borrower needs to fully understand all terms and make sure that the mortgage is affordable. A broker or financial professional can not only give the homebuyer advice, but peace of mind that they are making the right decision about home loans on line. The same peace of mind will also come from God if the consumer takes the time to pray about this big step.

Home Repair Loans

Home repair loans are great for those emergency leaky roofs or the shingles that have gone beyond their twenty years and just need replaced. These lending agreements are also wonderful for that driveway that needs blacktopped again or a swimming pool that needs a new liner or perhaps electrical wiring that is thirty years beyond its prime. This special lending agreement is important for the over 70% of Americans who live pay check to paycheck and do not have savings to cover these kinds of major expenses. Living paycheck to paycheck means, in most cases except for the very destitute that debt has enslaved our country and our citizenry must count on loans for those much needed maintenance projects on the largest single investment most of us have. So what are the best places to look for these lending agreements?

If a person has stellar credit, the best home repair loans come from a bank offering a home equity line of credit. These lending agreements, nicknamed HELOCS by the financial world, are also offered by credit unions and are loans based on the equity a person has in his/her place of residence. These borrowing offers are among the most favored by financial experts because in the case of banks and credit unions, the interest rates are quite reasonable and while no borrowing is always a good way to avoid the trap of debt slavery, these HELOCS are the best in terms of loans. What percentage of the home equity a bank or cu will offer depends form institution to institution. Some may allow 70% of the equity and some may allow 50% to be used as the amount of the loan. These lending agreements are packaged as actual checking accounts on which the borrower can draw checks for the home repair needed, although the HELOC is not required to be used solely for home repair, so after the roof is finished a Bahamas vacation might be in order!

One of the things that need to be kept in mind about a HELOC from a bank: an above average credit report score needs to be presented by the borrower. In many cases, a score of 640 or above is required for consideration as well as a debt to income ratio of no more than 40%. In order to figure the ratio out, compare monthly income to monthly debt payments including the mortgage. If the debt payments are above 40%, the ratio is considered unacceptable by banks and perhaps by credit unions, although they are a bit less stringent in their requirements for lending money for home repair loans. A HELOC will require an appraisal of the house and have closing costs. The HELOC will be a revolving charge, just as a credit card is, and will be, in most cases, a variable rate of interest. One of the attractions for a HDELOC is that the interest paid each year on the loan is deductible, just a mortgage interest is.

Home Loans After Bankruptcy

A home loan after bankruptcy seems impossible for those who have dealt with the financial court system. But financing after this tragedy is available and possible for those who are pursuing their dream of owning property. If a person finds themselves in a financial situation where filing for a bankrupt plea is the only option, talking to a professional is a good idea. "Hear counsel, and receive instruction, that thou mayest be wise in thy latter end" (Proverbs 12:15). Seek out some wise counsel if believing a home loan after bankruptcy will necessary. If a filer has already gone through a Chapter 7 or a Chapter 13 and is thinking that getting a mortgage is impossible, that idea is absolutely wrong. There are lending institutions that are willing to help a filer get home loans after bankruptcy. If a person would like to refinance their existing mortgage and take advantage of lower interest rates but think no one will refinance with them, it is not surprising to find out that many lenders are more than willing to do business with people who have a checkered financial history. As long as all bills and payments are currently up to date, there shouldn't be a problem finding a slew of sources for financing a mortgage.

Most people may be wondering what the difference is between Chapter 7 and Chapter 13. Under Chapter 7, all a person's debt is forgiven. That means the person does not have to pay any of the money back. Certain things like student loans and tax debt cannot be included in a Chapter 7 filing. Under a Chapter 13, the person works with a trustee of the court to repay all of the debt. Home loans after bankruptcy can help greatly with a Chapter 13 filing because the filer could refinance or take out a second mortgage and use the equity from the house to help repay the debt. Most can get a mortgage no matter how bad a credit history is. A home loan after bankruptcy can actually help improve a financial situation and rebuild a credit report.

Home Purchase Loan

A home purchase loan can provide the stepping stones that help lead people a step closer to living the 'American dream'. Thousands of people desire to own their own house, have a stable career, a family, and a dog, anything that helps to make life a little more comfortable. Purchasing a home is a major undertaking and people should carefully consider the pros and cons before they decide to make such a large investment. A house can very well prove to be the most pivotal purchases a person, couple or family can make as the action is the first step towards a stable future. Often, people do not have enough money to purchase a home outright, which is why they are several systems and plans in place to help dreamers see long held dreams become realities.

There are hundreds of different types of loans on the market that people can look into when buying a house. A home purchase loan can encompass a wide range of plans all with the goal in mind of allowing the customer to eventually lay claim to a piece of property. Before laying down any cash, those in the market would be wise to keep in mind that they are making a large investment towards the future. A house could very well be the most expensive purchase a lot of people will make which is why careful decisions should be made towards wise spending. Careful thought should never be taken for granted and can prove invaluable over the course of time, especially when the decision could have a large impact that will affect the future and provide a stable living situation for one's family. As the Psalmist said, "Lord, thou hast been our dwelling place in all generations" (Psalm 90:1).

People can apply for a home purchase loan through the Internet as there are hundreds of websites that not only explain all the possible options for loans and mortgages but compare rates with other companies. A few companies offer electronic applications online for those who are interested to have an easy time of signing up and begin the journey towards home ownership. Websites that offer applications online ensure that any information submitted will remain secure throughout the duration of the process so that customers can feel at ease and rest assured that any important data or personal information will be absconded during the process of applying for a home purchase loan. The World Wide Web can in fact be an ideal source of information for those who are entering the home buying field. Several sites have tips and tools that make the process of budgeting easy with amortization and mortgage calculators and links to be connected with professional realtors in the area in which one lives.

The act of purchasing a home is almost a rite of passage. Homeowners are able to truly own a piece of property which they are able to claim as their own. Hundreds of people are able to achieve lifelong dreams while providing stability for a growing family. A home purchase loan makes the act of purchasing a piece of property not only possible but as easy as possible. Those who do decided to take out a loan should be aware that before the closing date all the payments must be made in addition to the closing costs. The future home owners are the owns who are responsible to pay the bill at closing, and a good real estate broker will help a customer to estimate the costs so that they will be prepared when the date arrives.

Home Mortgage Loan

Home owner loans are available for remodeling, maintenance or other needs and come with various terms and amounts. If equity has built up in the property, many home owner loan options are available. Because such financing can be found in abundance, especially on the Internet, seek to find one that meets specific needs and fits into a budget as well.

Most people use their equity for remodeling projects or maintenance concerns, such as a needed new roof or additional rooms onto the house. Taking out a home owner loan may be a viable option if the cash is not readily on hand. Some people may find it less expensive to remodel or update their house rather than move to a new one, or they may want to stay in their current neighborhood or city. In these cases taking out home owner loans can facilitate the changes that the owner wants to make to their house without having to relocate.

Home equity loans and equity lines of credit are two popular variations of financing personal property. With both, the homeowner can tap into the equity they have built up in their house. An equity loan is a type of home owner loan that offers a fixed amount of money over a set amount of years with the interest being tax-deductible. On the other hand, a home equity line of credit pre-approves a set amount of credit, based on the amount of equity in the property. Amounts can then be drawn from the line of credit as needed. Both home owner loans can be used as the owner chooses.

Because there are so many different options for refinanced property, the borrower will need to take some time to compare what is available for each situation. These agreements will vary in the terms they offer, as well as in their interest rates. One way to find the right one for each circumstance is to submit an application with a lender online, who will in turn, make an offer for a home owner loan. While there are many lenders available on the Internet, it is much easier to submit several applications electronically than to spend excessive time on the phone.

The decision to secure a property refinance is an important one that should be wisely considered. Home owner loans will take borrowers further into debt, so weigh whether the cost will pay off in the value of the house and whether paying off that debt can be done in a timely manner. Because God's Word says "Owe no man any thing, but to love one another," (Romans 13:8) seek to be prudent in the debt incurred.

Home loan interest rates charges

Attaining homeownership is a great goal. If you have a good credit rating, reaching this goal is easy. On the other hand, if you have a few credit blemishes or filed a recent bankruptcy, you may have to delay homeownership until your credit situation improves. Several lenders specialize in bad credit mortgages, and offer loans to people after bankruptcy. However, before accepting an offer, consider the following points.

When was the Bankruptcy Discharged?

There is no mandatory waiting period for obtaining a mortgage after bankruptcy. Those who are eager to purchase a home may get a loan immediately following their discharge. Unfortunately, this may not be the best plan. Mortgage interest rates following a bankruptcy are outrageously high, which may greatly increase your mortgage payment. In fact, mortgage and credit experts may encourage you to wait at least 24 month before applying for a home loan. By doing so, you have the opportunity to receive a comparable low interest rate on your home loan.