Annual Percentage Rate (APR) helps you compare loans and understand costs. It won't give you a perfect answer, but it's as close as you can get to an apples-to-apples comparison among lenders. Find out how APR works and how it's calculated.
Home equity loans let you borrow against your home's value. They can be used for any purpose, they come with relatively low interest rates, and they may offer tax benefits. Learn more about how home equity loans work.
When you need money, an IRA loan may come to mind. Although it's not possible to borrow from your IRA, you can do a few things that look like an IRA loan for quick cash. Learn what your options are.
Debt consolidation programs are usually just a big loan that pays off other smaller loans. They can be very beneficial to borrowers, but these programs also have their pitfalls. Read up on how you should use debt consolidation programs and how to find the best deal.
Learn how to get preapproved for a loan. You’ll know how much you can spend, you’ll be in a better position to negotiate, and you’ll understand the costs of your loan before pulling the trigger.
Payday loans are short term loans you can use to get through a rough spot. Before you use one, make sure you understand the costs and risks. This page gives you a quick overview of how payday loans work, and ideas on how to avoid them.
Learn about amortization tables, and find out how to get an amortization schedule for your loan. Use an online calculator, or do it yourself.
You may want to calculate loan interest costs as you evaluate loans. Different interest rates, loan terms, and fees can affect your total cost, so it’s important to pick the right loan. You can calculate loan interest with an online calculator or you can do the math yourself.
When you pay interest, you pay a fee for using somebody else’s money. In addition to returning their money, you pay a little extra. Knowing how to calculate interest helps you understand what it costs to borrow and it makes it easier to choose the best loan.
A reader asks if it's possible to use an SBA loan to invest in a franchise. SBA loans are an option, but you still have to qualify.
A loan’s term can refer to two things. First, it tells you how long the loan will exist. It can also refer to requirements and specifics of the loan agreement.
Prepayment penalties are fees that arise when you pay a loan off too early. However, not every loan comes with a prepayment penalty. Find out how they work and what the pros and cons are.
At some point in our lives, we all reach the point where we say “I need money”. If you’re at that point, here are some ideas on getting the money you need. I hope to steer you in the right direction and cure the "I Need Money Blues".
A lot of borrowers ask what they can use loan proceeds for. When taking on a loan, some people get more money than they actually need. More brazen borrowers take a loan out without any desire to use the loan for its intended purpose. Some people want to invest the money and earn more than the interest rate theyre paying for the loan (earning a spread).
Unsecured personal loans can be used for almost anything. Learn what the options are and find out how to get one of these loans.
Loan modifications are changes to your loan agreement. Your payments get more affordable, and you don’t have to default on your loan. Banks choose to offer loan modification programs because it is easier to work with you than to go after you. Let's review how loan modification works, and how you can improve your chances.
Readers ask if it’s possible to get a private loan with bad credit. It depends who you borrow from. If you do a private loan with somebody you know, the answer is yes - as long as they’ll lend to you. If you’re looking for private student loans and you have bad credit, it’s not as easy.
Does it make sense to refinance now? Find out when to refinance, what to watch for, and when to avoid refinancing.
What does it take to refinance a loan? Find out if you'll be able to qualify for a better rate.
You have a loan and a little extra money. Should you pay off loans early? It’s important to understand what you get from a loan, and what it costs. You’ll save a bundle if you eliminate debt early, but it’s not always the best thing to do.
Most refinancing calculators only show you a breakeven point. This is useful information, but you need to take a closer look to make the right choice.
Running numbers is easy with an Excel loan calculator. Microsoft Excel includes built-in tools and formulas so you can get information quickly. The Excel loan calculator shows all the details about your loan, and helps you figure out how to repay it early.
When you are unable to repay a student loan, you may go into deferment. Different loans have different requirements, so you'll need to investigate your loan. Learn more about how deferment works and what your options might be.
A joint loan is a loan you get with another person. It may be easier to make a purchase with a joint loan, but there are some pitfalls to be aware of. Learn how these loans work and the challenges that come with them.
Learn what it takes to get a loan. Find out what you need to decide, and what to do next.