South Carolina mortgage loans is committed to helping you find the right mortgage product for your needs in Lake City. We understand that every borrower is different, and we off a varity of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.
This mortgage rate quote form will take approximately 60 seconds to complete. Here's how our service works:
1. Complete our short form below
2. We will search hundreds of mortgage lenders and thousands of loan programs in our database
3. You will then receive quotes from up to 4 competitive lenders in your state
4. You choose the mortgage lender with the best rate and loan terms and save money!
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Our fast Mortgage application will help you find the perfect lender. It takes only one minute
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Almost every day, you are involved in some type of financial
transaction requiring an educated decision. And we all need
extra cash from time to time. Maybe you need extra funds to
purchase your "dream" home, or a more reliable vehicle. Perhaps
you want to provide that "fairy book" wedding for your only
daughter, or take that once-in-a lifetime paradise vacation.
Sometimes it is simply not practical to make a purchase by
saving up the cash, and that's where a loan can help. Nearly
everyone needs to borrow at some time in their life--to finance
a house, buy a new automobile or send the kids to college. But
with so many different types of loans from so many different
financial institutions, how do you decide which is best for you?
When you set out to borrow money you are barraged with the
jargon of the banking industry. Revolving loans, points,
adjustable rates, bridge loans, beacon scores, amortization and
on and on and on. It is important to understand these terms in
order to get your best possible deal at the lowest interest
rates that are currently available. Take some time, research the
terminology and become a smart money shopper.
Not many years ago, banks were the only "boys on the block" when
it came time to obtain a loan. You got dressed in your finest
outfit, got a haircut, and shined your shoes in advance of your
meeting with the bank manager. Today, loan providers are
everywhere. Supermarkets, credit unions, television ads, daily
credit card offers in the mail, finance companies, and the
payday loan building on the corner. Where do you start?
Obviously the first question--how much money do I need?--must be
answered. If you are shopping for a home, for example, you will
not be using a credit card. Here is where your neighborhood bank
can help. And even Uncle Sam--if you get a Veteran's
Administration (VA) or a Federal Housing Administration (FHA)
loan.
Other types of loans available include: car loans, business
loans, debt consolidation loans, home improvement loans, home
equity loans, refinance loans, personal loans, payday loans, and
bridging loans (used to "bridge" a short-term financial gap when
cash is needed for a special project). There are nearly as many
loan types available as there are reasons to borrow money.
Approval for loans is based upon a number of factors, such as
age, employment, income, and credit rating.
Even if you have a poor credit rating or bad credit history, you
can still find a range of "bad credit" personal loans, although
the interest rates are generally higher than on standard loans.
Beware, however, of the "payday" loans. Sometimes called cash
advance loans, check advance loans, deferred deposit check loans
or post-dated check loans, however check cashers or finance
companies refer to them--they are EXPENSIVE.
Usually, a borrower writes a personal check payable to the
lender for the amount needed plus a fee. Let's say you need a
quick $100 and write a check to the lender for $115. You receive
$100 and the lender agrees not to deposit your check until your
pay day arrives three days in the future. It cost you $15 to
borrow $100 for three days! You don't even want to know the
Annual Percentage Rate (APR)on that loan.
When you need credit, shop carefully. Compare offers and
institutions. Look for loans with the lowest APR. Compare the
total finance charges, which include fees, interest and of types
of credit costs. By going online you can obtain a multitude of
loan options including: interest rates, length of the loan and
the actual total monthly payment cost.
Learn the lending terminology, understand the different types of
loans that are readily available and then make a choice that is
best for your unique situation. In the borrowing world, there is
no "one-size-fits all" solution. Your credit history, ability to
repay the loan in a timely fashion, and the purpose of the loan
should all be thoroughly considered.
About the author:
Larry Denton is a retired history teacher having taught 33 years
at Hobson High in Hobson, Montana. He is currently Vice
President of Elfin Enterprises, an Internet business providing
useful information and valuable resources on a variety of timely
topics. For a bank vault full of information, resources and
suggestions about loans, visit http://www.LoanFolks.com