There has been a dramatic shift within the Indian financial segment. From a few years ago when one had to visit a bank’s branch to apply for a personal loan – with a lot of paperwork – we now live in a time when everything is available at the tap of a click. With government changes, the fintech industry has developed, making it easier for people to get an instant personal loan. A recent survey conducted by a smartphone manufacturer in India saw that most Indians take a personal loan for main 5 … [Read more...]
Home Equity Loan Rates vs. Mortgage Rates: Which Are Lower?
Home equity loan rates and mortgage rates are both measures of the interest rate that a lender charges to borrow money. These are both important factors to consider when taking out a loan, as they will affect the total cost of the loan over time. Home equity loan rates vary between lenders, but generally are lower than mortgage rates. Home equity loans are typically secured against the value of your home, giving the lender more security. This allows for lower rates since the lender is less … [Read more...]
What Is a Mortgage? How do they work? What are the Types?
Mortgage is a loan used to buy a house. It is a secured loan, backed by the property being purchased, and lenders require borrowers to make monthly payments over a predetermined period of time (usually 15 or 30 years) in order to pay off the loan. During that time, the lender holds a lien on the property, meaning they have the right to take possession of the property if the borrower defaults on their loan obligation. Mortgages require borrowers to put down a lump sum in cash—called a down … [Read more...]
Dutton Lending Explains Personal Vs. Bank Loan Choices
Having choices in today’s market is always great for the consumer. There are plenty of loan choices to take care of virtually any type of problem that pops up. It’s not a matter of securing a loan but figuring out the best way to do it. For many people, a bank loan makes the most sense. For others, they may feel like it’s smarter and better economically to get a personal loan. What are the pros and cons of these two options? At Dutton Lending, they have always been upfront with explaining the … [Read more...]
What Exactly is a Personal Loan Limit – Explained!
A personal loan is an unsecured loan that you can avail to meet your varied needs. Through this loan offering, you can finance your personal or professional needs without depleting your savings. The best part of a personal loan is, it has a higher limit than a credit card, which comes in handy when you need to make a big-ticket expenditure. However, it is not necessary that you can get a loan of the maximum amount offered by the lenders. There is always a limit within which you can avail a … [Read more...]
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