Subprime is back! Well actually, it never really disappeared from the market. Instead, many subprime lenders also exercised more caution in approving this loans to borrowers. Subprime loans are still available to this day. Better days have come since the subprime housing crisis, But have we learned from our mistakes in the past? What Pulled […]
Stay Safe When Taking a Hard Money Loan
A hard money loan is a loan taken with the property value as a collateral. Creditworthiness is a requisite. Most loans of this kind are short-term and offered by private investors. Although they are closely similar to subprime loans, these loans’ LTV ratio is rather lower. Interest rates are also much higher compared to the […]
Subprime Car Loans Lead to the Next Financial Crash — Equifax Says, “NO”
Are we driving toward another global financial crash? The Federal Reserve Bank of New York said that is a “significant concern”, looking at the subprime auto loan delinquencies. In the United States, more “already-indebted” borrowers are exploiting this type of car loan. Interest rates for such loans have been at historic lows, making it a […]
On SUVs, Auto Financing and Subprimes
An SUV is one mean muscle machine. It has the power and function of a light truck but is handled like a family vehicle. Not to mention, sport utility vehicles are some of the most beautiful vehicles that exist today. Known for being tough and badass, this automotive vehicle is in a league of its […]
How Primes Affect Subprimes
Prime and subprime loans have a lot of differences. They are on the opposite ends of the spectrum. Though a subprime lender may set his own requirements, it can still be greatly affected by how prime loans are doing in the market. This is evident most especially on the rates subprimes take. Defining a Prime […]
You Can Maximize Your Benefits from Subprimes
Many a borrower fear subprime loans because of its connotation with the recent housing crisis. The fear may be because this type of loan has higher interest rates compared to traditional ones, thus requiring higher fees. It cannot be denied that subprime loans have its setbacks. But take note that all loans have its disadvantages. […]
Step-by-Step Guide to Applying for a Subprime Home Loan
If you have to apply for a subprime home loan do not think that you are a “bad risk” or that you are doomed to pay crazy high-interest rates. After the housing crisis and economy downfall, many people have found themselves in need of alternative financing options. Not as many people qualify for the conforming […]
What does the Comeback of Subprime Lending Mean?
The comeback of subprime lending might have you worried. Isn’t that what started the problem in the first place? Are we going to head towards another housing crisis in the near future? It is easy to think this way, but it is safe to say that lenders and investors are much smarter about the non-conventional […]
What is the Required Down Payment for Subprime Loans?
The biggest question whenever someone wants to purchase a home usually has something to do with the down payment. Right after the housing crisis it seemed like every program required 20 percent down, which we all know is highly unlikely for many people. Today, however, the tides have turned as there are many programs available, […]