Credit report score Savannah

Remember, it's not only the monthly payment or the interest rate that matters in making your choice. If you compare the at least credit report score Savannah three lenders for borrowing the same amount, you may find a better deal. See the Glossary below to learn about any terms you don't understand.

Worksheet: Getting Bids & Selecting credit report score Savannah a Contractor This worksheet can help you credit report score Savannah select a home repair contractor and compare bids.

Ask contractors questions and write down their answers. If you compare at least three contractors, you may find a better deal. See the credit report score Savannah Glossary below to learn about any credit report score Savannah terms you don't understand.

Adjustable Rate credit report score Savannah Mortgage (ARM): A home loan where the interest rate can go credit report score Savannah up or down during the time you are repaying the loan. Annual Percentage Rate (APR): The cost of a loan expressed as a percentage rate. It includes both the interest rate on the loan and many of credit report score Savannah the costs in getting the loan. Balloon Payment: This is the very large payment that is due at credit report score Savannah the end of some loans. business free credit report A balloon payment means that the borrower's monthly payments are used to pay the interest on the loan and that little of the payment is used to pay back the amount that was borrowed. Unless you know how you will make this payment, these loans can be risky. Bid: A written estimate of what your home credit report score Savannah improvement project will cost.

Closing Costs:credit report score Savannah All of the "other" costs that credit report score Savannah you have to pay when borrowing money. They could include fees for credit report score Savannah credit reports, land survey, appraisal, title search, title insurance, document preparation, notary, points, credit life insurance, and attorney fees. Credit Insurance: An insurance policy (such as life, disability, or unemployment) that pays the lender the balance of credit report score Savannah the loan if something happens to the borrower before the loan is paid off. check report online free credit report Sometimes the lender adds the entire price of the policy to the amount you are borrowing and this is very expensive because you pay interest on that amount. Credit Report: Credit bureaus collect information about your credit history-where you owe money, how much you owe, your credit cards, and your payment history. Lenders determine whether to give you a loan and credit report score Savannah how much to charge you based on information in your credit report.

Credit Score: Your credit score credit report score Savannah is a number that is used by lenders to decide whether to give you credit and at what cost. It is based on information in your credit report. Equity: The difference between what your house is worth and what you owe on it.

For example, if your house is worth $150,000 and you owe $100,000, your equity is $50,000. Fraud: Dishonest business practices that lead to your doing something against your best interest. Housing Counselor: Counselors credit report score Savannah can help you explore your options, find a loan, and explain loan documents. The Department of Housing and Urban Development (HUD) certifies housing counselors.

Installment Payments: Partial payments made to home improvement contractors as the work is credit report score Savannah being done. free credit report from all three credit bureaus

Interest: The percentage rate lenders charge you for using their money.

Line of Credit: A pre-approved amount that you can borrow.

Mortgage Broker: A person you pay credit report score Savannah to help you find a lender. Points: Each point is 1% of the amount you are borrowing.

Predatory credit report score Savannah Lenders: Lenders who take advantage of borrowers and make loans that the borrowers cannot afford.

They may charge very high interest rates or fees, hide costs, or lie about loan terms. Principal: The amount of money that you borrow.

Reverse Mortgage: A home loan you do not credit report score Savannah have to pay back for as long as you live in the home.