Business & Finance Renting & Real Estate

Owning Your California Home

How do most citizens of the Golden State afford homes in a state where housing prices are increasing every year? Many Californians are choosing something called an Interest Only Loan.
What is an Interest Only Loan? An Interest Only Loan is a loan that allows the consumer the option to pay only interest for the first few years or a select time period of their mortgage.
At the end of this period, the loan reverts back to a fully amortized loan.
This program is designed to lower the initial payments for the first few payment years for the consumer in order to allow them to save money.
Many great loan programs are available now.
Need a loan? Are you in desperate need of a new vehicle, or has your family simply outgrown your current home? Does your home need repairs or renovations? Well, you're in luck.
There are many great loan programs available now to help people just like you.
Read on to find out more! Do you have bad credit? Is there a bankruptcy in your past? While you may have to do a little bit of shopping, many programs exist to help you get the loan you need.
The Internet is an invaluable resource as you research all of your options.
If you don't have Internet access at home, check out your local library or community center.
Then, once you have a good idea of what's available to you, you'll know how much money you can reasonably expect to borrow.
Are you a home owner? Have you made mortgage payments for several years? You might want to look into a home equity loan or a refinance loan.
This method gives you cash from the accrued equity in your home.
You can use this cash for anything you need, like a home repair, a new vehicle, or a vacation.
Unsecured loans are available based only on your credit history.
This means you don't have to pledge collateral for these loans.
Depending on the amount you need and your credit rating, this kind of loan may or may not be best for you.
Shop around.
Lenders are eager for your business!
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