What are home loans?

Answer A home loan uses your house as collateral in case you default on the loan, which makes the loan less risky for the lender and results in a lower interest rate. Types of home loans include mortgages... Read More »

Top Q&A For: What are home loans

What Is an APR on Home Loans?

The APR, or annual percentage rate, on a home loan is the numerical representation of the combined monthly interest rate and all of the fees associated with the loan. All lenders are required to us... Read More »

What are home renovation loans?

Many Americans consider their homes their largest asset, according to More than $300 billion is spent on renovation every year. Home renovation loans (also called rehabilitation ... Read More »

What do points mean in home loans?

When a homeowner purchases a mortgage, he has the option of purchasing "points" or paying a fee to purchase or "buy down" to a lower interest rate than originally offered by his lender.Significance... Read More »

What are points on home equity loans?

A point on a home equity loan, or any type of mortgage debt, is a set amount of money paid to purchase a lower interest rate. Paying a point is sometimes optional for the borrower, depending upon t... Read More »