Finding answers to some of the more common lending questions that homeowners face as they approach the real estate market, personal or business loan landscape, and more can be difficult. Single people and couple homebuyers and borrowers alike rely on friends, family, and a lot of research in order to find the answers they are seeking surrounding personal loans, commercial investments, and the real estate market.
With the help of a one-stop-shop for information surrounding lending and related personal finance questions like LendingLoco, finding the resources and answers that you need to get started on a mortgage loan application or debt consolidation loan is simple and highly effective. The truth is that with all the digital information out there these days, it can be incredibly difficult to find reliable information that can point you in the right direction. With conflicting accounts of how to get started in the real estate market or with a business lending opportunity, investors, buyers, and consumers of all backgrounds are left to parse the information to the best of their ability and hope they’ve made a good decision. LendingLoco is a different kind of resource that will help you make sense of the total marketplace in an effort to demystify the landscape of investments, real estate deals, and more.
Continue reading to learn more about the common questions that borrowers ask about commercial, personal, and real estate loans and how LendingLoco can play a role in your continued success in these spaces.
Do I need to put down 20 percent on a home?
The standard 20-percent down payment has dissolved in recent years. Many lenders are happy to fund a new home purchase with a smaller down payment (perhaps even as low as 5 percent in certain circumstances), and comparing this figure alongside other metrics is now a must for any couple or individual thinking of purchasing real estate.
For many homebuyers, the thought of saving this amount of cash can be disheartening. It can take years of careful planning to find the capital required to invest this much in the purchase of a home. But today, with a greater field of lenders out there competing for your business, it can actually be simple to find a blend of the key facets that go into a great loan product, including a smaller down payment as a hallmark. Interest rates and repayment years remain the key figures in any borrowing opportunity, but with smaller initial obligations, many borrowers are moving into their dream homes faster than ever before.
How can I reduce monthly payments on credit card bills?
Credit card repayments are another key feature of consumer credit and borrowing. With an average total debt of around $6,000, the American credit card holder is often looking for a way to reduce their credit card burden and associated interest rates. It’s a great idea to shop around for personal loan products that can be used for debt reduction. Likewise, additional credit card accounts that offer introductory rates on purchases and balance transfers are a great resource for anyone hoping to demolish their credit card bills for good.
What are my business loan and commercial financing options as an entrepreneur?
Entrepreneurial pursuits are another area in which financial resources and lenders can offer a leg up over the competition. Questions over the best possible funding path often come up as a business begins to take off and requires more physical space, product inventory, or staff. A business loan might be the perfect financial addition, and with the help of a resource that can make sense of different lending products in the commercial space, making the right decision can be a simple task.
Consider a resource for borrowers of all stripes for the best information around on all things finance.