Archive for August, 2008

How do I get a business loan with little or no money down?

Joseph B asked: Myself and two partners are in the process of buying a building (we have a contract on it) and we have a great budget and business plan written for a 24 hr diner downstairs and a lounge/bar upstairs. I own a home and the other two rent. We have very little money [...]

How are fixed home equity loan rates determined?

Pablo1709 asked: I’ve noticed on historic charts that there doesn’t seem to be any correlation between home equity loans and HELOCS or mortgage rates. I know HELOCs are usually based off of the prime rate, but what determines how fixed home equity loan rates fluctuate?

Paid off investment home. Can I take a 1st mortgage on that property or must I go with a home equity loan?

Viper asked: My brother and I need cash for a business venture and would like to take a loan out against an residential investment property that we co-own free and clear. Is our only option a Home Equity Loan? Ideally we would like to take advantage of the lower rates of a standard [...]

when do you make the first payment on a business loan?

lhfams asked: A friend and I want start up our own business and expected to need $225,000 for the building and start-up cost. When will a bank want us to start making loan payments? It will take some time to get enough customers to pay expenses, wages and a loan payment. How [...]

Can someone with a bank loan of 5k for a motorcycle get minimal coverage?

sk8roces14 asked: I am taking out a loan to buy a motorcycle and have been told the bank will require full coverage on the motorcycle.
How would i go about getting a personal loan instead of an auto loan and not telling the bank i am using it for a sport bike….

will a bank loan you money for day trading?

andrew the dice clay asked: I need over 10k to day trade options and stocks and need extra capital to make more money, will a bank loan me money for this purpose?

Can a non american resident get a bank loan for investing in real estate ?

Mike Rofone asked: I’m from europe and planning to invest in real estate in the US. Can I get a bank loan for that ? Do I need to be an american living in the US ? Do I need to create a business or something ? Or do I just need to find a [...]

What must be a debt to income ratio to qualify for home equity loan? ?

Ivan S asked: What is a debt to income ratio to qualify for Home Equity Loan / Home Equity line of credit.
What if I go to mortgage brokers who have access to “B” type lenders at higher rates?
Thanks guys!