Personal Loans - Talking eLoans, Mortgages & Personal Finance » eloans mortgage http://www.personal-e-loans.com Join The Discussions, Help & Advise Others & Get The Best Loan Deals Fri, 06 Jan 2012 21:35:38 +0000 en hourly 1 eLoan Secure – Eloans Online, Savings, Mortgage Rates http://www.personal-e-loans.com/eloans-secure-online-savings-eloan-mortgage-rates http://www.personal-e-loans.com/eloans-secure-online-savings-eloan-mortgage-rates#comments Thu, 27 May 2010 16:47:10 +0000 admin http://www.personal-e-loans.com/?p=683

By Guest Writer Ben Shaffer:

Eloan refers to a full range of mortgages, credit cards, auto loans, education loans, home equity loans and personal loans that are offered online. An eloan is a part of online financial service. The eloan companies are online consumer direct lenders that provide borrowers with loans and mortgages. Eloans are of many types (see also best eloan home mortgage deals).

Auto loans are a type of eloan. Most of the banks and credit unions offer some type of car/auto loan. It is common to get six-year terms for loans on expensive cars and sometimes seven-year terms are also offered for high line automobiles. Home mortgages are another type of eloan service.

Eloan Mortgages

In a home mortgage, you need to make sure that you are getting the best deal. You need to look at the rate, prepayment penalties, closing costs and points due at closing. When you are comparing loans from different lenders, you need to ask for a Good Faith Estimate from them. This is a break up of the expected costs in a standard format that is used by each lender. This helps you compare loans next to each other and see the different charges.

When your debt position becomes difficult to manage, you need to turn to a service that helps you in getting out of the debt problem. The solutions offered by most of the credit agencies appear to be good. They may not be not as good as the agency claims that they are. You need to look for the hidden costs and fees in such loans and the terms of service. There can be misinterpretation of the terms that suit the needs of the lender. The agreement between you and the agency also needs to be closely looked into for any terms harmful to your interest.

Payday Loans

Another kind of eloan is the payday loan. This loan also goes by many names- cash advance loan, post-dated check loan etc. In this kind of loan, the borrower has to pay back the amount along with a fee. Usually the fee charged for payday loans are a percentage of the loan amount and if the loan period is extended, you have to pay for the extended period also.

There are student loans among eloans. There are many types of eloans among student/education loans including many private and federal loans to enable students pursue their education.

Federal loans are the single largest source of education loans. There are two primary programs, Federal Family Loan Program (FFELP) and the William D. Ford Federal Direct Loan Program (FDLP). In the FFELP, a bank or your school is the lender and in FDLP, it is the US Department of Education. These are some of the eloans on offer.

Reader Question

Eloan Secure Mortgages asked:

My income is not large, but have excellent credit and will pay 20% down. I’ve been “pre-approved” but am looking for the best deal, and was wondering if anyone had an amazing referral to somplace I’ve missed. I’ve looked into Ditech, eloan, Wells Fargo, and a local broker, and will contact ING Direct too. Any other suggestions of banks, online lenders, etc. would be marvelous, though preferably not individual brokers at this time.

I’m just trying to get the best deal with the few pennies I earn, so I’ll be financially happy when I move into my new home.

Thanks!

]]> http://www.personal-e-loans.com/eloans-secure-online-savings-eloan-mortgage-rates/feed 6 Best Eloan Home Mortgage Deals – Where Can I Get The Best One? http://www.personal-e-loans.com/best-eloan-home-mortgage-deal http://www.personal-e-loans.com/best-eloan-home-mortgage-deal#comments Wed, 21 Apr 2010 13:38:18 +0000 admin http://www.personal-e-loans.com/?p=328

ehome loan mortgage asked: My income is not large, but have excellent credit and will pay 20% down.

I’ve been “pre-approved” but am looking for the best deal, and was wondering if anyone had an amazing referral to somplace I’ve missed.

I’ve looked into Ditech, eloan, Wells Fargo, and a local broker, and will contact ING Direct too.

Any other suggestions of banks, online lenders, etc. would be marvelous, though preferably not individual brokers at this time.

I’m just trying to get the best deal with the few pennies I earn, so I’ll be financially happy when I move into my new home.

Thanks!

What People Are Saying About This… What Do You Think?

March 31, 2010

godged @ 2:48 am #

Please don’t go to those who will inevitably show up here spamming for business, or send you a direct solicitation. Next, compare the entire package.

Some lenders tangle an attractive interest rate, only to rack up thousands of extra dollars in closing costs, transaction fees, appraisal fees, late fees, pre-payment penalties and such. Being an informed borrower is the best way to avoid mortgage regret.

April 1, 2010

mazziatplay @ 8:51 pm #

Best Deal or Best Interest Rate

It all depends on what you mean by “best deal”.

Do you mean best interest rate, lowest closing costs, best service, most ethical loan officer? The best deal for you may not be the best deal for someone else and vice versa.

Quit shopping for the wrong thing and find an individual with whom you can develop a lifelong home ownership relationship, someone who will look our for your best interests, educate you on all of your options so that you can choose the one that best meets your needs, and helps you achieve your goals. And, for heaven’s sake, be wise enough to stay away from the loan shark feeding frenzy questions like your’s draw.

April 3, 2010

marxistharpist @ 2:57 am #

Yeah it sounds like you have most of the bases covered.

Shopping around never hurts, the bond has been dropping recently, but even still on a 30 year fixed you are not going to get better than 6.375 without buying down the rate.

As a broker my advice is to check out wachovia, hsbc, indymac and homecomings financial.

April 4, 2010

vegasguy80 @ 12:41 pm #

Go with a well known lender.

Right now there are a lot of small companies that want your business and will do anything possible to get it but they are not who you want.

They will end up putting you in arms with flexible rates that will increase greatly and cause a lot of headache or even worse, foreclosure.

Wells Fargo is a good mortgage lender. Check the big banks.

Rates may be a little higher but at least they aren’t going to do you over. Make sure you are getting a fixed rate! No arms!

April 7, 2010

Ailane @ 12:40 am #

Please be careful when looking for a best deal.

I would recommend you go with a name that is recognized. I had a friend that caught up in a scam when they re-mortgaged their home to get better rates – the company said they would pay off their old home loan, but ended up just taking their money and disappearing.

Forced To Move Out

They ended up getting foreclosed on and had to move out of their lovely home, dealt with tons of court costs and court dates, and in the end got nothing.

It was a horrible experience and I hope that you find a reputable company.


April 8, 2010

socalteacher @ 1:40 am #

I go through my local credit union…

.

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