OMMERCIAL
LOANS have always been difficult to obtain and aren't at the lowest
interest rates available for other types of loans such as home
equity loans.
This article discusses the advantages of using a home equity loan
to finance a portion of your startup costs or potentially all
of them if your needs are small at first.
There are several
advantages with a home equity loan over a commercial
loan. First of all, they are easier to obtain than venture capital
money and traditional commercial loans and you can deduct interest
payments from your taxes every year.
The most common concern voiced by
those interested in a commercial loan and considering home equity
is that you are putting your home up as collateral. Taking this
risk into account, we recommend only financing a portion of
your commercial loan using home equity.
Home equity loans are
available at great rates that you might not be able to get with
a commercial loan. Recently, home equity loans have been obtained
at rates below 4%.
If you have owned your home for more than
a few years, simply apply, there is no obligation and our lending
professionals can help point you in the right direction to get
a loan that suites your commercial loan needs.
Common Questions:
1 Why
use a home equity loan in place of a commercial loan?
You can deduct the interest
payments made on a home equity loan. Another advantage
over commercial loans is that they are easier to obtain
and often have lower rates of interest.
2 Where
can I find help getting a commercial loan?
Check out what the small
business administration can offer in the way of commercial
loans. If you meet their requirements they can help you
get lower interest longer loan terms that are easier to
repay for startups.
3 Are
there home equity loan limits?
We recommend taking out
only a portion of your total equity as a loan. It is possible
to borrow up to all of your equity to finance your business
but we recommend this only if the borrower is well aware
of the risks of using their home as collateral for a loan.
Home
Equity Loans Taking out home equity loans
now at these low interest rates can save you thousands over
the life of your loan. When you apply we will perform a free
search of our database of lenders to find you the best price.
Refinancing If you haven't recently refinanced or your
credit has improved, you might be able to get a better rate on your
current home loan. We offer a no obligation evaluation of your finances
to see if now is a right time refinancing your home loan.
We also offer a free refinancing calculator with break even date
analysis.
Home
Loans Home loans have never been simpler
than through LendingExpo. We offer free mortgage amortization
calculators and up to four competitive no obligation interest
rate quotes. Applying is easy and many of our lenders have
special first time home buyer programs.
Need money to finance
college or make home improvements? Home equity loans do not have to put
your home at risk and they can offer significantly better interest rates
than other forms of loans. Some home equity loans even have tax deductible
interest payments...
Mortgage refinancing
is simply the process of replacing your current loan with a new loan at
a lower interest rate. Refinancing has been all the craze in the past five
years. But even those who refinanced as a short as three years ago are finding
they can save more by refinancing yet again...
Wondering
how much home you can afford? We explain how lenders evaluate your spending
power and provide you with up to four home loans quote. You can also instantly
estimate your monthly home loan payments online using our free calculators...
Want to make a smaller
down payment? FHA home loans are geared towards buyers who do not have the
capital to make a traditionally large down payment on a new home loan. Qualifying
is generally easy for most applicants...
Graduates this year
can undoubtedly find lower interest rates on their student loans, refinancing
is the means to take advantage of them. Get a free no obligation quote and
start saving today...
First time home buyer programs can offer a break for
many individuals who need help coming up with down payment money or simply
home home buyers with good credit deserving of a lower interest rate.
Many of our lenders offer these programs and are happy to see if you qualify...
