What are the differences between car loans and housing loans?
450550
The major difference is with one you get a car, and the other you get a house. Lol. Seriously though, the difference is interest rates and length of loans.
974479
A hard money loan is a very high interest loan for someone who has alot of equity but very bad credit. It can also be for "strange" properties that cannot get conventional financing.\n\nA stated income loan is a loan where you state what your income is on the application and do not have to prove it with paystubs etc. These types of loans generally require good credit scores and for you to have money in the bank as reserves.
1034053
You basically pay more for the car than the selling price - the new amount financed is the price of the car plus the excess loan amount, added together into a new loan.\n\nYou should really keep a new car that is on a loan for at least 2/3 of the loan period and you won't get in this situation.  If you are paying too much interest, make about $40 more in principal payment per month and you will pay the loan off sooner and incur less interest.
1103157
With mine the loan interest is next to nothing, much cheaper. It's also much easier to obtain a loan in the first place with credit union.
392539
It really depends on what you plan on doing with the vehicle.  If you are the type of person who enjoys that safety and reliability, and usually want a new car every 3-4 years, then leasing is the way to go.  You get a lower payment, and when you have satisfied a lease term, you don't have to hassle with vehicle negotiations, just the price of the new vehicle you want.  \n\nIf you are a type who drives a car until it croaks, purchasing is MUCH better.  If you would want to keep the vehicle after the lease term, you would have to finance it, and after paying the lease for 3-5 years, you then finance for another 3-5 years, meaning you are paying twice as long for the same car.  Unless you get 0% financing, find the highest dollar amount per month you can afford for the vehicle based on what you can afford, and stick to that number.  If you can't reach your number without going over 5 years (60 months), then you really can't afford it.  Paying off a car that you drive 15k miles a year in 5 years, HIGHLY increases your resale value, and purchasing power when it comes to your next purchase, whenever that may be.
755354
different auto landersa have different policies.. try this http://www.carsloan.info
229677
There are (actually were) two types of assumable loans.  \n\na) Qualifying assumable\nb) Non-Qualifying assumable\n\nIf a loan is assumable now (which is pretty rare, but they are out there), you still have to qualify like you were getting a new loan.  Then you go through the lending process, etc.  \n\nEven rarer still are the non-qualifying assumable.  These ended in the late 70s to early 80s.  Used to be you could just 'sign over' a loan to someone else.  It was abused by a few people running around grabbing up the properties, then renting the houses out.  Then a number of people doing this committed fraud by grabbing them up, collecting the rent, and not paying the mortgage.  That's why they're not around any more.\n\nIf there are any of these type of loans left, they're almost all paid off since they ended nearly 30 years ago.
779333
A major difference between purchasing a house and other credit-based decisions is that a loan for a house is collateralized, meaning that the house itself is collateral for the loan.\n\nA car loan has the car as collateral, a boat loan has the boat, etc. When you apply for a credit card it's an unsecured loan because there is no collateral for the issuer to come and take if you stop making payments.\n\nIf you purchase a home for $100,000 and put down $5,000 and are able to get the house appraised for $110,000 then the mortgage company is thinking that they won't lose money if you were to stop making payments. In fact, to help ensure that they don't lose money they'll have you pay for PMI (Private Mortage Insurance) if your downpayment is less than 20% of the selling price of the house.\n\nSo in addition to the mortgage you're now paying an additional amount of money (insurance) that goes to a third party that will help to cover a shortfall if you should go into foreclosure on your house.
154255
That is true that when you buy a house they will check on your credit history, and it is true that there are other ways to buid credit, and it is true that you shouldn't pay interest if you don't need to.\nSo, it is your choice, in fact, you could finance your car, if you find another good use on the cash you have for it, like if you are thinking of some business and maybe will need the cash to finance it. Or if the momento of buy your house is close, you can use the cash for the initial pay, so you will need less money for the loan.\nBut if you wont use the cash, and that money would be just in a saving account, you should use it for the car, and get some other credits like in credit cards.\nSo, it depends on your needs, and your projects in general.
611528
Leasing is long term, and has a contract.  Renting is short term, and sometimes has a contract, and sometimes don't.\nOtherwise there is no real difference
67234
It depends on the interest rate you would get. Most HELOC loans have a higher interest rate than a refi.\nIt also depends on what you want to do with the money. A refi is just a restructuring of the original loan; a HELOC borrows against the equity you have accrued. The HELOC could give you some ready cash for other things; a refi wouldn't do that. You can actually do both.
768007
Same process as any other home loan.  Usually the guidelines are a little more strict.
962100
I think that most mortgage companies will look at both scenarios & take both incomes into consideration. If both people want to be on the note of the loan they will look at both incomes.
1072654
SIMPLE ANSWERS:\n1. Mortgage broker: middle man between the lender and consumer\n2. Secondary Mortgage Market: the government buys loans from lenders so lenders can have more money to loan out.\n\nsimple eh?
4777
I have been both a car sales man for 4 years and a mortgage consultant for 3 in cars i averaged 110-120k per year i have averaged 180k as a mc for 3 i do about 4-6 loans per month and i cold call people 6 hours a day 5 days a week. so it is more money but you have to work at it alot harder. either way you have to be a good saleman so get some good books on sales and learn your craft.
750253
The PLUS (Parental Loan for Undergraduate Students) is not issued by the school, but rather their preferred lender. These lenders, or banks, also issue "private" student loans; where the parent co-signs with the student to obtain the required funds. The difference between the PLUS and Private student loans is that PLUS loans are sent to the school, while private student loans are sent directly to you. A recommendation for private student loans is: iStudentLoan.com
844794
An APR rate is like a PIN number.\n\nThe APR is the Annual Percentage Rate you pay for a loan. The lower, the better.