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A Guide to Direct Homeowner Loans
Are you considering applying for direct homeowner loans? Perhaps you're simply wanting more information on direct homeowner loans so that you'll be able to make an informed decision?
Direct homeowner loans can be very useful for a wide variety of purposes ranging from purchasing new vehicles to consolidating old debts, but as with all loans should be researched and carefully considered before any final decisions are made.
How direct homeowner loans work
Direct homeowner loans are based upon the equity that you have in your home? equity, of course, being the percentage of your home's value that is free from any mortgage or loan.
These loans use the equity in your home as collateral, securing the loan and guaranteeing that the lender gets their money back if you are unable to repay the loan.
One advantage to this is that as long as you have enough equity in your house, you should have no problem finding a loan even if you have bad credit? an advantage that sets direct homeowner loans apart from a large portion of the loans out there.
When you're looking for direct homeowner loans, you have several options available to you.
These loans can be found at most banks, as well as finance companies and other such lenders.
Another loan option that has been growing in popularity in recent years is the online loan, in which the borrower interfaces with a website set up by the lender.
The popularity of these online lenders is based on the ease with which users can apply for loans, as well as the convenience of letting potential borrowers deal with and apply for the loan on their own time from home.
As an additional benefit, many online lenders offer lower interest rates and better terms than some of their physical counterparts; the reduced overhead of not having to maintain a physical presence helps these lenders keep their costs low.
Shopping for the loan you need
To find the direct homeowner loans that are right for you, it's best to take the time to research your loan options and shop around for the best loan rates for your needs.
Request quotes for your loan at several banks and finance companies in your area, as well as online lenders.
Once this is done and you have your quotes, compare the interest rates, repayment terms, and other pertinent details of the offers you've received, using the information to determine which loan offers the best terms and lowest interest rate.
After deciding upon the best loan for your money, visit the lender (or the website, in the case of online lenders) and submit your final loan application.
Though it might take a little longer to shop around for loan offers, the time and money that you save in the long run will make it more than worth it.
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 http://www.directonlineloans.co.uk website.
MORE RESOURCES updated Fri. August / 14 / 2020
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Low rates drive surge in mortgage, refinance activity in Spokane Spokane Journal of Business
Don't let mortgage rates distract you. You should also consider this when refinancing - Fox Business
FHFA Drops a Bomb; Your Refi Just Got Much More Expensive! Mortgage News Daily
6 Ways to Negotiate Home Closing Costs Credible News
Refi Rates Today, August 10, 2020 | Rates drop Bankrate.com
How much does it cost to refinance? Bankrate.com
Don't make these mortgage refinancing mistakes | Business | swoknews.com The Lawton Constitution
Mortgage Rates Today, August 11, 2020 | Rates climb Bankrate.com
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Is It Already Time To Refinance Again? Mortgage News Daily
You might have a tough time getting a 'jumbo mortgage' during pandemic. Here's what to expect - CNBC
A 'Middle Finger' to Struggling Families: How a New Fee Is About to Make Refinancing Your Mortgage a Lot More Expensive - MSN Money
A 'Middle Finger' to Struggling Families: How a New Fee Is About to Make Refinancing Your Mortgage a Lot More Expensive MSN Money
Lenders Are Making It Harder To Get A Mortgage. Here’s How Borrowers Can Improve Their Odds - Forbes
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How to Refinance a Jumbo Loan Credible News
Hotels lobby for big bailout from Congress Orlando Sentinel
How the right questions yield smart mortgage... Kent Reporter
Mortgage industry faces 'tsunami' of refinancing deals Phoenix Business Journal
More Wells Fargo customers say the bank decided to pause their mortgage payments without asking - NBC News
More Wells Fargo customers say the bank decided to pause their mortgage payments without asking NBC News
Fannie Mae, Freddie Mac "Adverse Market Fee" met with anger, confusion - Mortgage Professional America
Fannie Mae, Freddie Mac "Adverse Market Fee" met with anger, confusion Mortgage Professional America
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How to get a jumbo mortgage when lenders are scarce Bankrate.com
How to Decide Whether Refinancing is Right for You? Communal News
How to refinance your mortgage Fox Business
How to get the best mortgage refinance rates Fox Business
Here's how to pay off your mortgage faster (But should you?) | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Here's how to pay off your mortgage faster (But should you?) | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Is now the best time to refinance your mortgage? Fox Business
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Should I refinance my house? Mortgage rates drop to 50-year low as coronavirus spreads across the U.S. — and the world - MarketWatch
Should I refinance my house? Mortgage rates drop to 50-year low as coronavirus spreads across the U.S. — and the world MarketWatch
Record number of borrowers can now save on a mortgage refinance as rates drop from coronavirus fears - CNBC
Record number of borrowers can now save on a mortgage refinance as rates drop from coronavirus fears CNBC
I refinanced my mortgage during COVID-19, and thanks to low interest rates I'll save about $50000 - Business Insider
I refinanced my mortgage during COVID-19, and thanks to low interest rates I'll save about $50000 Business Insider
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With Mortgage Rates So Low, Getting a Floating Rate Mortgage Might Seem Crazy. Here's Why I Did It Anyway - MONEY
With Mortgage Rates So Low, Getting a Floating Rate Mortgage Might Seem Crazy. Here's Why I Did It Anyway MONEY