Loan Types Explained

But before you sign on the dotted line, it helps to know the differences between these loan options-especially because federal student loans and private student loans are very different animals. Here’s an explanation of the types of student loans you might encounter out in the wild.

So many variables can result in greatly different loan processes and structures, but here are the main types of car loans explained. Secured auto loans The car acts as collateral for the debt so, if the borrower fails to make payments, the lender can repossess the vehicle and resell it to recoup its losses.

Below is a primer on the most popular home loan types, designed to help you answer basic questions that your real estate clients may have. Here are six of the most common home loan types available to buyers: 1. Fixed-rate mortgage loan. For this loan, your clients will pay the same interest rate for the full repayment term.

FHA Interest Only Loan With an interest-only mortgage, your monthly payment pays only the interest charges on your loan, not any of the original capital borrowed. This means your payments will be less than on a repayment mortgage, but at the end of the term you’ll still owe the original amount you borrowed from the lender.

To help you navigate the lending process, here are seven common types of loans and what they cover. 7 Types of Loans: Which One Fits Your Needs? | realtor.com It looks like Cookies are.

There are several types of personal loans, including secured and unsecured, fixed- and variable-rate, and co-sign loans. Learning about the different types of loans can help you choose the one.

Jumbo Interest Only Loans Intrest Only Loan Interest only mortgages promise low initial payments because the borrower only pays the interest and none of the principal for the first several years. But payments can increase when the introductory period ends and the borrower must start paying off the principal. Most interest only loans also come.Loan Description Vantage Recruiting group loan partner I/Loan Assistant I. – SUMMARY: The primary function of the Loan Partner is to manage the Loan Officer's pipeline and to make certain that all loans are. Company Description.While the Department of Housing and Urban development (hud) tracks home equity conversion mortgage activity month to month, the market for new jumbo products is less known. Yet originators and.Loan Description Loan Processor Job Description – Great Sample Resume – Loan Processor Job Description. It could be either a lending company or a bank. A loan processor may take an hour of sitting to be able to analyze the loan application thoroughly. Sometimes, depending on workload or work demand, a loan processor may work for long period time. Salary: A loan processor may get an average pay of $44,000 annually.

Types of Home Loans: FHA, VA, USDA.OMG! – Mortgage Insurance. Alright, this isn’t a mortgage type, but you need to know about it! If you put less than 20% down on a home, mortgage insurance protects your lender in case you quit making payments. The cost varies by type of loan so ask your Mortgage Professional about it with every loan you.

Loan types explained. April 27, 2011 by webmaster. There are hundreds of different home loan products on the market, each with different fees, features and interest rates. Read about the types of loans and the pros and cons for each one, it might help you with your decision.

“These type of scams are aggressive advertisements that target student loan borrowers with claims of student loan debt relief or student loan discharge services for a fee,” explained Jeff Cichon,