What is a loan and how does it work?

Answer At some point in their lives, most individuals will turn to a loan to help finance a large expenditure, such as a home or a college education. If handled responsibly, loans can help you obtain what... Read More »

Top Q&A For: What is a loan and how does it work

How Does a FHA 203K Loan Work?

Although purchasing real estate to rehabilitate and sell is often a wise investment, buying a cheap home can come with drawbacks. In some cases, the property needs extensive repairs to be habitable... Read More »

How Does Using Money As Collateral Work on a Car Loan?

Generally, when you take out a car loan you use the car being financed as the collateral for the loan, which means that the lender can repossess the car if you default on your loan payments. Howeve... Read More »

If I Turn Down Work Study Will I Get a Loan?

Work-study is one of the major types of financial aid offered by the federal government. With work-study, the student works a campus job and receives at least the minimum wage in the state. This mo... Read More »

How does an interest-only mortgage loan work?

Traditional mortgages have principal-plus-interest payments, which pay the accrued interest in full, then reduce the principal owed each month. In contrast, interest-only loans only pay off the acc... Read More »