Home Equity Loan is One of the Best Loans Around

 First of all, what does home equity means? When you first bought a house, most probably you did not pay for it fully in cash. You would have taken a home loan from the bank. If you opt for the traditional package, you would have to pay 20% of the transaction in a mixture of cash and CPF, and 80% comes in the form of the home loan. Once the transaction goes through, you will have gotten 20% equity in your home. Along the years, you made your monthly payments promptly and you own more of the house. That means that you have more equity in your house.
 
If you are holding onto a non – HDB property, you may be eligible for a home equity loan or a term loan. This means that you are allowed to borrow against your home. Borrowing against your home is one of the best option available in terms of interest rates. Why is that so?

  
To better understand why, you have to know how much interest is the banks charging you for the different loan products and have a reference rate to measure against:
 
Inflation Rate: 6% – 7%
Credit Cards: 20% – 25%
Personal Loans: 7% – 16%
Car Loan: 5% – 7%
Housing Loan: 1.5% – 5%
 
As you can see, housing loans have one of the lowest rates among all the products and by borrowing against your property; you are pegging your equity loan’s interest rate to your housing loan’s interest rate. That makes the equity loan’s interest rate one of the cheapest options available to you. Some people actually use an equity loan at a cost of 2% and invest in certain instruments that generate a return of 5% or more. They then pocket the profit from the investment. Of course, this scenario safely assumes that you are going to hit a return of more than the interest you borrowed. Do take note that in whatever investment that you undertake, the risk of it underperforming is always there.
  
A home equity loan or a term loan is definitely a good tool for investing for the financially diligent kind of people. On the other hand, if you were to take that equity or term loan and spend it on a holiday, new spa, game console, car and etc. I suggest that you refrain yourself from taking that equity loan.  

 
To understand more about equity loans or term loans, it is best to talk to a mortgage expert or advisor. Different banks attach different terms, conditions and interest rates on each product. A mortgage advisor will be able to clear all those doubts and drive you towards a loan that is the most acceptable to your unique financial situation.    

Cash Loans – Quick Money For Instant Needs

In today’s jet age, when people have the facility of receiving everything instantly, they surely expect the same in the case of financial aid and to live up to this expectation, our extensive financial market has given the solution of cash loans that offers quick monetary assistance to the people in their hard times. These loans are basically short terms loans and are offered to the populace under three major categories of payday loans, cheque loans and deferred deposit cheque loans. Nowadays, several borrowers are utilizing this assistance to clear their debts, pay their due electricity bills and to control the expense of home repair or education fees. Hence, if even you have such a requirement then immediately ebb its existence with the lucrative facility of cash loans.

However, to enjoy this offer of cash loans, you have to fulfill two basic requirements of being an adult and possessing a definite source of income. In addition to this, while taking any of the cash loans you are also required to deposit a post dated cheque to the lender. The amount in the cheque includes total amount borrowed and interest and as soon as your salary gets credited, the amount will be deducted from your account. You can also enjoy the facility of your loan renewal, though many lenders demand a higher rate of interest in this case. Therefore, make attempts to read all the terms and regulations of the loan before signing the deal, so that you know the consequences in advance.

Cash loans can be taken as both secured and unsecured loans as per the borrower’s convenience. In case of secured form, you are expected to offer decent collateral that can be in form of home, property, car, jewelry or any other valuable item, whereas in the unsecured form, no collateral submission is required to be made. As far as the duration of loan processing is concerned, unsecured loans take much less time to get credited in comparison to secured loans, as no collateral verification is included in its loan procedure. Hence, try to figure out all your requirements in an appropriate manner to make a right decision regarding the kind of this loan service.

In order to take the help of the easy financial assistance of cash loans you can either visit the lender’s office personally and follow the traditional method of taking loan or on the other hand, can also have the opportunity of executing the entire loan processing through the medium of internet. So, if you wish to apply for this loan through the online service you just have to arrange for an access to the website of your selected lender, from where you can fill up the online application form. Generally, this form is simply categorized and demands for your personal and employment details. Once, this procedure is completed, you just have to sit back and relax as everything else will be performed by the executives of the finance company. They will then verify your given information and for this purpose, they can even contact your office staff. Hence, never try to submit incorrect and incomplete information as it may totally eliminate your chances of getting this loan facility.

Quick Cash Loans – Time’s Value Understood

A salaried class truly understands the value of each piece of currency. This category of populace makes hectic efforts towards saving it for a rainy day, yet somehow never seem to be out of the burden of debts. The salary cheque brought to a home finishes in the early stages of month and very little is then left to meet the expenses. Quick cash loans are of immense help to the borrower when a timely assistance from one’s relatives, friends and others fails to materialize. The amount is utilized towards paying off the bills which appear due to any sudden development in one’s life. For instance, in case of a medical emergency, the failure to pay the bills on time can result in procuring important medicines. But the loan amount assists the applicant in bailing himself out of the problematic situation as soon as possible.

It becomes increasingly difficult for a person, who is burdened under the impact of multiple debts. These include every kind of debt problems like credit card debt to the medical bills to money lost in gambling. Quick cash loans have been designed taking into consideration the above defined situations by the lenders. Within a span of 24 hours, the borrower has an access to the funds required and the rest is taken care of by the lenders themselves. However, the borrower must meet the condition of a stable job with whose help one can fulfill all the obligations of repayment schedules. Quick cash loans are offered by the loan agencies with some other exceptions to get around the tough state laws. Non-repayment of the loans makes you liable to roll over the loan repayment procedure but with the condition that you have to add on the financial fee later on

Quick cash loans can be availed with the help of online facility. Most of the cash advance companies list the APR or the yearly rate of loan even if these loans are the short term ones. An online request from the applicant for these loans quickens the loan approval process and one is free to pay at least one part of the balance amount. For the satisfaction of creditors, quick loans are granted in flexible payment plans. This means that interest rates are reduced from the remaining portion of your debt. The lenders compare the same APR number even when online. Under this loan category, an advance of 100 to 1500 is approved by the lenders up to the next payday. The approval from the lenders comes for 14 days only on making the interest payments but can be stretched up to a few weeks more.

No credit checks are done by the lenders in providing quick cash loans to the borrowers. Despite an irregular payback schedule and defaults, they approve the loan facility in the borrower’s favor. The loan amount approved is quite small and therefore high interest rates accrue on them. Extending the loan repayment schedule can prove to be hazardous as this could prove to be a debt trap. A number of criteria have to borne in the mind while applying for the loans. You can check for yourself where you stand in all this by comparing the costs with other lenders. Besides all this, their terms and conditions have to be properly understood to save one from the avoidable problems.