Loan Service Los Angeles CA

Swipe Solutions is a loan service company that offers lower rates than other and no early repayment fees, no hidden charges. So what are you waiting for, apply now with a low fixed rate the never goes up. Pay off your loan with fixed 3 to 5 years term with a budget-friendly single monthly payment. Save money now with no prepayment penalties.

Major Purchase

Pay for unexpected expenses with a fixed-rate installment loan instead of using a credit card.

Home Improvement

Don’t wait for a home equity loan or line of credit, start your project now.

Debt Consolidation

Simplify your life with a single monthly payment fixed-rate personal loan.

The Secret To Getting Approved For Any Personal Loan

There’s an old adage when it comes to borrowing money: “The only way to get a loan is to prove that you do not need it.” When it comes to personal loans, which are almost always “unsecured loans” that are not backed by collateral, that adage rings true more often than not. You can, however, boost your chances of receiving such a loan by taking a few steps.

You and I both know, most people applying for personal loans need the money, so let’s read more about how to get approved for an unsecured personal loan.

The Better Your FICO® Score, The Better Your Loan Terms

Your FICO® score must usually be pristine, or nearly so, to be considered for a personal loan. Some companies, however, might issue you a bad credit loan click here to improve your chances of getting personal loan. These loans, however, usually have exorbitant interest rates and suffocating rules and penalties for nonpayment. As always, and in keeping with the “old adage,” the better your FICO® score, the more favorable the terms of any loan you secure will be.

Because some banks or other lenders might demand a credit score of 800 or above even to think about a unsecured loan, it behooves you to try to make your FICO® score as good as possible. To do that, begin with examining all three of your credit reports. You are looking for either fraudulent entries or otherwise legitimate entries that contain errors. Truly legitimate entries that are 100-percent accurate are there to stay until they expire, which can be as much as 10 years in the case of certain bankruptcies. Most items expire after seven years. There is nothing you can do about those legitimate and accurate items.

Swipe Solutions - Loan Service Los Angeles CA

4470 W. Sunset Blvd #94819 , Los Angeles, CA

How can cash-out refinancing help me pull cash out of my home?

With so many different personal loan options to choose from, you may be asking, “Why should I specifically go with cash-out refinancing and pull cash out of my home?” This becomes an especially pressing question if you have decent to good credit and know that you can qualify for high-dollar, low-interest personal loans.

But the simple fact is that, for many homeowners who have built significant equity in their homes, cash-out refinancing will provide the most money for the lowest rates. If you are like most Americans, then your home probably represents the vast majority of your net worth. At the same time, you may be experiencing cash shortfalls, which may lead to the accumulation of high-interest unsecured debt like credit cards. You may also be concerned about diversifying your portfolio and pursuing investments in productive assets.

A realistic example

To make things clearer as to how cash-out refinancing works, let’s look at a typical example. Say that a homeowner bought their residence in 2010 for $200,000, towards the bottom of the housing market. If their case is typical, that means that their home will be worth about $312,000 today. Let’s also say that this homeowner originally took out a typical $150,000 mortgage, which carried an interest rate of 6 percent. This means that, today, the homeowner will owe about $128,000 on their mortgage. But the home’s total value has appreciated to $312,000. So, the homeowner’s total equity will be $184,000, a serious stack of cash.

Cash-out refinancing will let you access most but not all of your equity

Like home-equity lines of credit, home-equity loans and other forms of home-backed secured financing, lenders will typically only lend against around 75 percent of the home’s value. So, in the above scenario, our homeowner would typically be able to borrow against 75 percent of their home’s value, which would be $234,000. Since they still owe $128,000, this means that the maximum loan amount that most lenders will extend them would be $106,000. This is still enough money to make a crucial difference in the finances of someone who may be experiencing difficulty or who needs the money for high-return investments.

Cash-out refinancing may be the most powerful financial tool at your disposal

We just saw how a very typical homeowner could immediately raise six-figure amounts from refinancing their home, simply by tapping into the equity that they have built due to paying down their mortgage coupled with the median appreciation rate for American homes since 2010. While some markets may not have experienced the same appreciation levels that we have used in the example, others may have experienced far more. And if the home that was used in the example had been originally purchased for $400,000, rather than $200,000, the maximum loan available to the homeowner would have doubled.

How much can you get out of your home from cash-out refinancing

Every homeowner’s situation will be different. However, there are many online tools that will give you an excellent idea of what kind of loan you might expect from cash-out refinancing. The biggest wildcard is what your home’s appraised value will actually turn out to be. While sites like Zillow can provide a relatively accurate picture of what your home might be worth, they may at times be wildly inaccurate. Checking with a local real estate professional can be a great way of getting an accurate idea of how much your home might truly be worth. Remember that when you apply for a cash-out refinancing loan the lender will probably hire a professional real estate appraiser to determine your home’s value. And that value will frequently be quite different from online estimates or tax appraisal values. That said, in determining how much you could benefit from cash-out refinancing, the following factors make it more likely that you will be able to potentially tap into serious money:

• Owing less than 60 percent of your home’s value in mortgage principal.
• Living in a housing market that has experienced strong appreciation.
• Having a home that is worth more than $300,000.
• Having a good to excellent credit score.

Personal Loans Vs. Payday Loans (What Everybody Ought To Know)

When you and I face unexpected expenses, we often search for loans. People who are homeowners and have considerable equity can use a home equity loan or refinance the home to obtain money. However, people who do not have that advantage must think about short-term loans. Payday loans and personal loans are two common solutions. To better understand which choice makes more sense, we recommend learning the basics of each option and the key differences between them.

What Are Personal Loans?

Personal loans that people seek to cover unexpected expenses are unsecured and have shorter terms than mortgages. Unsecured means that they are not guaranteed by offering any collateral or assets to ensure repayment if a borrower defaults. People often use personal loans to replace heating or cooling systems that break, pay for emergency dental work or pay for major car repairs. However, you and I may use the funds for many other reasons.

What Are Payday Loans?

When people need money fast or are looking for a bad credit loan, they often search for payday lenders. A payday loan is designed to provide a modest sum of money instantly for someone who cannot afford an immediate expense but can afford it after the next paycheck. In this type of arrangement, a borrower uses a paycheck as a form of collateral or guarantee. The lender gives the borrower the money and simply collects the paycheck via direct payment or through voluntary repayment from the borrower. Customers often rate their experiences highly because of how easy the process is. For example, a person with poor credit will not feel embarrassed about having bad credit if there is no credit check to worry about, and that person is more likely to report a positive experience because of those feelings. However, borrowers should understand payday loans thoroughly to avoid getting into a serious and expensive debt trap.