5 Reasons Why Banks Reject Your Home Loan

Residents who aspire to own homes for their families have probably already researched on how to secure a home loan and what to do in order to secure one. However, some borrowers know little on how to get their loans approved. Before you embark on your application for a loan, consider reviewing some of the reasons below on why banks may reject your home loan: You used your residential address on the defaulter list One of the reasons why you may get rejection for applying for a home loan is if you use your residential address on the defaulter list. This simply means that the person who wants to apply for a loan lives in the same house of an individual who has not paid their credit card bills on time, or in a house where someone has...

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Why It Is Not Good To Pay Off The Mortgages Faster? - PART I

Mortgages are a tough financial aspect that all homeowners have to face someday or the other. Some might argue that it does not fall under the financial interest now. In fact, they take it as the last thing to do. They ask to pay of the mortgages late and make ways for the retirement savings. There are two reasons why people argue on the fact whether or not to pay off the mortgages faster. Fixed-Rate mortgages are quite cheap now. Inflation and interest rates might rise in the coming future. Here, in this article we are going to share some popular reason as to why you should not payoff the mortgages early. Check out the cool tips and stay away from the overpayment of your mortgages. Pic Courtesy: HomeForHer Lower...

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Posted in: tips on mortgages