You may be able to use a personal loan for a variety of things, from consolidating debt to financing a large purchase. But how do personal loans work? We break down the basics for you. Checkout this video: Introduction A personal loan is a type of loan that can be used for a variety of…
Do you know how to calculate your combined loan to value (CLTV)? It’s an important number to know if you’re applying for a home equity loan or line of credit. Checkout this video: What is a Combined Loan to Value Ratio? Your combined loan to value ratio (CLTV) is the percentage of your home’s value…
Want to become a mortgage loan officer in Texas? Here’s what you need to know. Find out the education and experience requirements, then start your career in the Lone Star State! Checkout this video: Introduction Anyone thinking about becoming a mortgage loan officer in Texas should be aware of the stringent requirements set forth by…
If you’re wondering when your PPP loan payments will start, the answer depends on a few factors. Read on to learn more about when you can expect to receive your PPP loan funds. Checkout this video: Introduction Under the CARES Act, small business owners can apply for a Paycheck Protection Program (PPP) loan to help…
You can start a loan business by following these simple steps. You will need to get a business license, find a niche, and get started marketing your business. Checkout this video: Introduction So, you want to start a loan business. This can be a very rewarding business venture, but it is important to do your…
FHA loans are government-backed mortgages that are insured by the Federal Housing Administration. These loans are available to borrowers with lower credit scores and down payments as low as 3.5%. Conventional loans, on the other hand, are not backed by the government and typically require higher credit scores and down payments. Checkout this video: Conventional…
If you’re considering taking over someone else’s loan , you may be wondering how loan assumption works. Here’s a quick overview of what you need to know. Checkout this video: Introduction to Loan Assumption A loan assumption is when a new borrower takes over the responsibility of an existing loan from the original borrower. The…
You’ve seen the ads: “pre-approved for a loan up to $25,000.” You may have even received one in the mail. But what does it really mean to be pre-approved for a loan? Checkout this video: What is a pre-approval? A pre-approval is a conditional commitment from a lender that says they are willing to lend…
If you’re considering taking out a loan for home improvements, you might be wondering what type of loan is best. Here’s a look at some of the most popular options to help you make the best decision for your needs. Checkout this video: Home Equity Loan A home equity loan is a second loan that…
How Is Car Loan Interest Rate Calculated? The answer to this question is not as simple as it seems. Many factors go into determining your car loan’s interest rate. Checkout this video: Car loan interest rates are determined by many factors The interest rate on your car loan is very important. It is the cost…