Get pre-approved for your next Auto Loan Apply Now It’s time to purchase your first vehicle! An exciting time, yet you may be concerned about getting approved for financing. For those with little or no credit, Downeast Credit Union is here to help with the purchase of your first vehicle...
Generally, interest rates are higher for people with lower credit scores, regardless of whether they are first-time or seasoned homebuyers. Look at the entire loan package to choose the best option. Many first-time homebuyers falsely believe that the loan with the lowest interest rate is the on...
The first payment default rule protects lenders if a borrower defaults on the loan. You must know when the first car payment is due to avoid unwanted penalties. If you're late on your first car payment, your lender may report this to the credit bureaus, which will negatively impact your c...
energy efficiency upgrades, and accessibility enhancements. The work must be done by a licensed contractor and approved by an inspector endorsed by RIHousing. Depending on the borrower’s preferences and financial situation, the program offers competitive interest rates and a variety of loan term opti...
Acosigner doesn’t have rightsto the vehicle but will become responsible for the loan if you cannot make timely payments. However, a co-borrower shares ownership of the vehicle and equal responsibility for the loan with you. Navigating the car dealership as a first-time buyer ...
If you're a federal student loan borrower, there are many different repayment plans you can choose from. Here are some key features of each. Standard repayment plan Monthly payments are fixed, equal amounts and are meant to be paid off within 10 years (though, it could be paid off in ...
David Hollingworth, director at broker L&C Mortgages, praised TSB for “having a go” in the highly-leveraged end of the market but cautioned that “to have someone who it’s the right deal for, to give them the information, and for that borrower to make a decision to go ahead, is a...
When you apply for a credit card, the issuer reviews your credit report before making a decision to approve or reject your application. If there isn’t enough evidence that you’re a good borrower, it may consider you a credit risk and deny your application. ...
Unlike a traditional loan's interest rate, which is often based on the borrower's credit score, this loan's rate is based on the prevailing market rate. Section 184 loans can only be used for single-family homes (one to four units) and primary residences.10 Feel out the Feds If you'r...
(checking credit scores, verifying employment information, calculating DTIs, etc.). The lender can pre-approve the borrower for a certain amount. Be aware that even if you have been pre-approved for a mortgage, your loan can fall through at the last minute if you do something to alter ...