A loan subordination is when a borrower agrees to make their loan second in line to another lender. This happens when a borrower takes out a second loan and the new lender requires that their loan be in first position. Checkout this video: Introduction A loan subordination is a type of financial agreement in which…
How to Calculate the Total Interest Paid on a Loan. You can use this calculator to figure out the total interest paid on a loan. Checkout this video: Introduction When you take out a loan, you agree to pay back the full amount of the loan plus interest. Interest is the cost of borrowing money…
You may be able to borrow money from your 401(k) plan for a variety of reasons. Find out how a 401k loan works and how it can benefit you. Checkout this video: Introduction A 401k loan is a loan that is taken out against the value of your 401k account. This type of loan is…
If you’re hoping to have your PPP loan forgiven, you’ll need to make sure you have all the right documentation in order. Here’s what you’ll need to have on hand. Checkout this video: Introduction If you received a Paycheck Protection Program (PPP) loan, you may be eligible for loan forgiveness. The U.S. Small Business Administration…
A mortgage loan processor is responsible for collecting and verifying the documentation needed to secure a mortgage. Checkout this video: Mortgage Loan Processor Job Description The Mortgage Loan Processor is responsible for providing quality customer service by obtaining necessary documentation to underwrite the loan and ordering third party services to complete the transaction. Duties •…
If you’ve recently taken out an auto loan, you might be wondering when you’ll receive your first bill. The answer depends on a few factors, but you can typically expect to receive your first bill within 30 to 45 days after your loan is funded. Checkout this video: Introduction You will receive your first auto…
If you’re considering taking out a home equity loan, you’re probably wondering what the interest rate will be. Read on to learn more about interest rates for home equity loans and how they are determined. Checkout this video: Home Equity Loan Interest Rates The interest rate for a home equity loan is usually lower than…
If you’re taking over a car loan , there are a few things you need to know. Here’s a quick guide on how to take over a car loan from somebody else. Checkout this video: Research the Vehicle’s History It’s important to know about the vehicle you want to take over a loan for. You…
If you’re in need of some quick cash and you have a car with a clear title, you may be wondering “where can I get a loan on my car title?” We’ve got you covered. Keep reading to learn more about title loans and how they work. Checkout this video: Loan Basics A title loan…
If you’re a small business owner who has recently been approved for a Paycheck Protection Program (PPP) loan, you may be wondering what exactly you can use the loan for. In this blog post, we’ll go over some of the most common uses for PPP loans so that you can make the best decision for…