What is a Homeowner Loan?

If you are a homeowner, it couldn't be easier to apply for a Homeowner or Secured loan.

Secured loans - i.e. where your home is used as security against the loan - are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured loan; or, have a poor credit history. (Lenders are more flexible with their underwriting, making a secured loan possible when you may have been turned down for an unsecured loan).

Homeowner loans are also worth considering if you need extra money to spend on a new car, home improvements, or that holiday of a lifetime.

Benefits of Homeowner loans include lower monthly repayments than unsecured loans and the ability to borrow more money over a longer period of time.

Some lenders will offer flexible repayment terms allowing you to take payment holidays or pay the loan off early.

A Homeowner loan can be used for almost any purpose and includes:

Debt Consolidation

Home Improvements

Holidays

Car Purchase

Business Startup

Land Purchase

Holiday Home Purchase

A Homeowner loan will take longer to approve as the lender may need to have your home valued to see if there is equity available in the price.

Equity is worked out, in laymans terms, as the difference between the value of your home and any outstanding debts on it such as a mortgage.

To have equity, the value of your home needs to be more than the cost of any debts such as the mortgage. If this is not the case and the house value is lower then you are termed as having negative equity.

This will not stop you getting a loan as some lenders will lend upto 125% of your property value.

Most homeowner loans (nearly 50% according to research carried out by www.polarloans.co.uk) is for debt consolidation and used by people who have a poor credit history.

Jason Hulott is Business Development Director at Homeowner Loans service PolarLoans. Visit PolarLoans now for more information about Homeowner and Secured Loans. Sign up for FREE SPECIAL REPORT

Polar Loans Complimentary Guide to Secured Loans!

---

A Simple Way to Save Thousands on Your Mortgage Charges

How many times do you check you restaurant bill? If not often, I would advise you to do it more, especially when dining on your overseas vacations.... Read More

Option ARM ? The World?s Most Dangerous Mortgage

Home prices have reached record levels, and in many parts of the country, homes have become nearly unaffordable. Real estate has replaced the tech stocks of the... Read More

Life of an Escrow

Escrow is one of the last stages in the purchase or sale of a real property. When someone says that they are in escrow, it means that... Read More

No Deposit Home Loans

A few years ago, many of us would have had a light chuckle to ourselves if someone mentioned that you could borrow money to buy a house... Read More

Understanding UK Bridging Finance

Bridging finance, also referred to as "bridge loans" and "bridging loans", have nothing at all to do with re-constructing the London Bridge. Bridging finance is typically a... Read More

A Guide to Direct Homeowner Loans

Are you considering applying for direct homeowner loans? Perhaps you're simply wanting more information on direct homeowner loans so that you'll be able to make an informed... Read More

Home Mortgage Loan Refinance ? Benefits To Refinancing Your House Online

Here are some of the benefits to doing your home loan refinance online:Everything seems to happen faster - Online, when looking for a mortgage loan you can... Read More

Bad Credit Remortgage Loan: When Bad Credit Plays Mischief With Your Mortgage

Financial difficulties are married to bad credit. It is a tough marriage but can be peaceful with a little bit of counseling. The recommended counseling in case... Read More

When is the Right Time to Refinance Your Mortgage?

You've heard that interest rates are down and you think it could be time to refinance your existing mortgage, but the entire loan application process was so... Read More

Apply For Home Mortgage Loan Online With Bad Credit - Things To Consider

So, you've found the perfect home. You've already decided where to place each piece of your furniture inside the home, and in your mind, all of your... Read More

How easy is it to get a Commercial Mortgage in the UK?

As is the case when applying for any mortgage, be it a residential or a commercial mortgage, the better your credit and the better the collateral, the... Read More

Is an ARM Right For You?

Let's start by taking a look at 7 key elements of an adjustable rate mortgage:1) ARM defined: While a fixed rate loan is constant and never changes... Read More

Mortgage Reduction Solutions

USA ECONOMIC CONDITIONSToday's sluggish economy has left millions of people struggling to financially make ends meet. Lou Dobb's coined phrase "Assault on the Middle Class" continues. Virtually... Read More

Stated Income Mortgage Loan - Get Approved Online

A stated income or no doc mortgage loan allows individuals with difficult to document income to buy a home. With a documented credit score and reasonably stated... Read More

Mortgage Advice To Make Mortgages A Really Smooth Ride

Mortgages are easy as long as you understand them well. But how many borrowers can be confident of their knowledge of mortgages.With the list of terms and... Read More

Refinance Your Mortgage to Rebuild Credit

Refinancing your mortgage is one way to rebuild your credit, particularly if you have recently declared bankruptcy. With a poor credit history, you can find refinancing through... Read More

To Refinance or not to Refinance -- Here is the Answer

I have written many articles on refinancing a fixed rate mortgage to an adjustable rate mortgage. I have helped people cut as much as $800 off their... Read More

Buy to Let Mortgages

Finding the right buy to let mortgage is crucial to your success as a property investor. Unlike other forms of property investment, a lot of the capital... Read More

Bad Credit? With Poor Credit You Can Still Refinance Or Get A Home Equity Line Of Credit

Have you decided to refinance your home or apply for a home equity line of credit but worry about your credit rating? Even with poor credit it... Read More

How to Save Money by Using an Independent Commercial Mortgage Broker

Being a creature of habit can cost you plenty when it comes to applying for a commercial mortgage instead of going through an independent commercial mortgage broker.... Read More

Buying a House or a Home?

A house is just that, a house, until someone lives in it. That's when it becomes a Home. There's a big difference. At our house, we always... Read More

Buying a Home With Poor Credit Is Easier Than Ever

Buying a home with poor credit is easier than ever with online mortgage brokers. You can easily find sub prime lenders, compare rates and terms, and complete... Read More

Shopping for a Mortgage, Avoid Three Common Mistakes

Buying a home or refinancing one is perhaps the largest financial transaction you will ever make in your life, so you want to be sure to avoid... Read More

Mortgage Terminology for the First Time Home Buyer

Buying a Home for the first time can be a little "nerve racking". Mortgage terminology that brokers use everyday can leave you scratching your head or shaking... Read More

Home Mortgages: How About Those 1.75% Loans?

You've undoubtedly heard or seen ads for mortgages with very low interest rates such as 1.75%. For example, one mortgage company in the city where I live... Read More

Comparing The True Cost Of Obtaining A Home Loan

Home buyers are often confused about where to begin in their search for a home loan. The process is usually narrowed down to finding which institutions provide... Read More