Facts about Mortgage Down Payments
A down payment is the initial payment that you make when purchasing a home. The money is applied entirely to your equity in the home. This in turn lowers the amount you have to end up financing on the mortgage. For example: If you buy a home for $500,000 and you make a down payment of $40,000, your mortgage will be financed with $460,000 owing in principal instead of $500,000. This is beneficial to you because the lower your mortgage amount, the less interest you will pay overall.
Tips on Commercial Real Estate Loans
A commercial real estate loan can help you bankroll the property you need for your business. The process can be daunting, but with adequate preparation, you can determine the best financing strategy, whether you’re purchasing a new property, refinancing, or renovating your current space. Here are some tips to get you started.
How to Apply for a Business Loan
If you’re a business owner looking for financing, you may be wondering how to apply for a business loan. Applying takes a little more preparation than applying for a mortgage or auto loan, but the process is straightforward if you know what lenders require. Here are the key steps to take so you can position your business for approval and secure the funds you need to meet your goals.
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