Home loans tips

Do you require money for personal reasons ? Searching for commercial real estate loans guide? Interest rates: The interest rate should be affordable for a business owner. Hard money lenders have higher rates than traditional commercial real estate loans but are easier to obtain. Identify a solution that is most feasible for your business’s needs.

Fees associated with personal loans. In addition to interest rates, there are other fees associated with a typical personal loan such as; An application fee to cover the expenses incurred while processing the loan application such as credit report fees, man hours spent validating your application and etc. An origination fee or loan fee that’s charged upon receiving the approved funds. This is often a percentage of the total loan amount, usually between 1%-5%. A late payment fee that’s charged when you don’t make the monthly payments on time. Most lenders charge a flat-fee but some may set it to be a certain percentage of the payable monthly amount. See more details at VA loan.

Applying for a personal loan is a simple process but getting the loan application approved may be a different matter. As per the bank’s procedure, you would have to submit some documents such as the KYC (know your customer) documents, recent salary slips, proof of employment or income, etc. After submitting all the required documents, a credit history check of the applicant is performed to know their credit history and CIBIL score. This helps banks determine your capability to repay the loan and also check the number of active loans you presently have.

A business loan is a loan for specifically business purposes. Either secured or unsecured, these loans entail the creation of a debt and an agreed repayment rate of interest. While alternative forms of finance such as invoice finance are considered business loans, the traditional form of a business loan is to borrow a sum of money from a lending institution (i.e. a bank). Almost all lenders will insist on some form of collateral, usually a fixed asset of some kind such as a property. Where a business doesn’t have the necessary assets, unsecured loans are possible although their upper limit will be capped.

How to manage your new mortgage: Once you move into your new home you will need to start making monthly repayments on your mortgage. If you miss any payments, the amount you owe could increase and your credit record could be damaged. If you fall too far behind your lender could repossess your house. If you set up a direct debit to pay your mortgage, you will never miss a payment as long as there is enough money in your bank account. Here is how to manage your mortgage so you can keep up with your repayments and make sure you are always on the best deal.

Greenlight Funding is a full service loan servicing firm offering a variety of consumer and commercial loan products including multi-family, business acquisition, rental property, working capital, construction, fix and flip loans, and residential mortgages. We are dedicated to helping you throughout the process. Guidance: A straight forward process every step of the way, Objectivity: The right loan at the best rate and lowest cost, Transparency: No surprises, no hidden costs.

Business Name: Greenlight Funding, Manhattan
Web: https://greenlightbiz.com/
Address: 99 Wall Street, Suite 1605, NY, NY 1005
Tel: 917-722-1761
eMail: info@greenlightbiz.com