Taking Care of Mondays

This coming Monday at El Rio (July 6th), we’re having a cover band blowout! Featuring a motley crew of TCB riders, downtown messengers, friends and fans. Benefits the SFBMA!

My ideal day…

Your dream job awaits…

Finding the best loans options

Different loans can have restrictions and may charge different interests rates as people get loans for different purposes.

If you’re considering using a personal loan, here are some tips to make sure you get a good deal.

Find the right lender

The first thing you should do is ask your lender for a loan application, which will show you the interest rate and other details about your loan. Be sure to read the fine print, because many lenders require a minimum deposit and minimum credit score, as well as certain fees, before approving you for a personal loan and there are options that offer easy short term loans which is a great option for this. For more information about choosing a loan and financing your home, contact the Better Business Bureau at 877-BKPLAN-1.

Find out how much it will cost to buy.

Before you buy a home, make sure you have a good idea of how much you’ll be spending on it. Most lenders require buyers to pay a down payment before making a home loan. If you’re looking to buy a second home, you may also be required to pay a down payment.

Take out a home loan

Before you start to consider a second home purchase, you’ll want to consider a home loan. This is an investment in your future financial stability and future retirement.

With a home loan, you borrow the money to purchase a home. The terms of the loan will depend on the type of home you’re planning to purchase, but it’s generally a short-term loan for up to 20 years.

There are no monthly payments, and the bank is on the hook for the interest payments for the life of the loan.

Home equity lines of credit

A home equity line of credit (HELOC) allows you to borrow money for a home to finance a home loan. You borrow money from your bank or credit union, and the bank will be on the hook for the interest and principal payments for the life of the loan. You can borrow as much as $500,000 to buy a home with 10% down, and the bank will finance it up to 100% of the value of the house. It’s called a FHA-backed loan.

The main difference between these two types of loans is that a FHA-backed mortgage is insured by the federal government, so you’ll pay insurance premiums, which will be added to the principal you pay. With a conventional loan, you’ll still pay the principal amount, but the bank will pay the insurance premiums, which will lower your monthly payments.

FHA loan limits

The FHA limits the amount of mortgage you can have. But if you have a down payment, you can still buy a home at those higher loan limits. If you don’t have a down payment, but are willing to make a larger down payment, it could be possible to get an FHA loan.

Here’s an example. Let’s say you have a $150,000 house, which is the current maximum FHA loan limit. You’re going to need a down payment of at least 4% (or $5,000) for your down payment. It may seem like a lot of money, but you should realize that the FHA loan has a 10 year amortization. You don’t have to have a loan with a 10 year amortization before you can get a FHA loan. It will probably take 10 years to pay off the loan.

Summer Job Fair

Hey all you eager beavers in the cycling world! TCB Courier is looking to hire both new and experienced riders to be part of the team this Summer and beyond! If you think you have what it takes or just like bikes and want to know what it’s all about, send your resume to: sam@tcbcourier.com