Introduction to Loans

Home ownership has become a priority among many young working individuals and no wonder very many companies, organizations are offering home loans. These home mortgage offers have a common denominator differing mainly on the interest rate offers and the other minor technical details.

Before you embrace home loans, it is important to know the various types of home loan offers. Types of home loans There are various different species of home loans and choosing the correct breed would save you lots of bucks and years of repayment. There are three basic types of home loans based on interest rates. Fixed interest rates In this type of home loan, the rate on the principle and interests is fixed for a period of the agreed time.

The repayment is distributed in equal installments over a period of time commonly 30 years but may be of 10, 15, or 20 years. The primary advantage of fixed rate home loan is that it’s easier to budget for because the cost doesn’t change and can also be spread over a longer period for lower monthly installments. The only downside of this home loan is that the interest rate may be set higher. Adjustable rate mortgage (ARM) Unlike the fixed rate home loan where the interest rate is static, ARM interest rates change over time depending on the market economics, adjusting either up or down. This can lead to increased or reduced monthly installments. ARM offers lower interest rates on the principal and it also offers other features such as redraw option. Hybrid adjustable rate mortgage This is a type of ARM that begins with a fixed rate for a period of time but after the period, the rates begin to adjust.

The most common hybrid ARM is 5/1 ARM home loan where you pay a fixed rate for a period of five years and then the rate changes every year after that. If you want to embrace home loans, hybrid ARM is popular because it offers the lowest rates in the initial period and you can take advantage to knock down the principal amount at the period. Interest only home loan You hate upfront fee, or account deposits? You can still embrace home loans. Interest only loans are for those who need rock bottom payment. The interest only mortgage product allows you to pay the interest the first few years of the loan and after that the loan interest begins to adjust.

This product is appropriate for homeowners who are looking to increase their income in the near future such as young professionals. Government mortgages These are loans given and guaranteed by the federal government. The lender might be from the private sector but the loan gets insured by the government. Some of the government backed home loans include FHA loan: This loan is made by lenders and is insured through the federal housing administration (FHA). VA loan: This is reserved for the armed forces and their families and the insurance is managed by the department of home affairs. Before one obtains a home loan, it crucial to consider the above types and other considerations such as your income and credit score.

Secured Credit Card by Chase

Chase Secured Credit Card For many of us, navigating through the world of bank issued credits cards may seem to be a daunting task. One has to be fully aware of all financial risks, as well as possible rewards, that he, or she, is accepting. Phrases like interest rates, collateral, and foreign transaction fees can leave one’s head spinning. Even the decision of receiving a secured card, rather than an unsecured one, may leave room for confusion. Luckily, in the midst of this credit card merry-go-round, Chase is offering an amazing option for financial freedom. The Chase Secured Credit Card promises numerous great benefits and possibly even some unexpected rewards.

Benefits of Chase Secured Card.

Chase is known for their great sign on bonuses as well as their amazing rewards programs. With most of their credit cards boasting no annual fees as well as lucrative cash back rewards, the card holder is really in the driver’s seat on this one. Chase’s excellent fraud protection initiative also makes sure that your money stays where it belongs, with you! With the option of setting up an alert system in the event of strange activity, Chase makes it incredibly simple to remain on top of your finances. The power is truly in your hands when banking with Chase. What’s even better than the great rewards and rates that Chase presents is the numerous different types of credit cards they’ve made available. Whether for personal, business, or otherwise, your perfect selection awaits you. Chase Freedom is the premiere card for casual shoppers, having no annual fees and no minimum purchase amount. Chase Sapphire is a superb choice for those seeking a low fee travel rewards card. With no annual fee the first year, and only a $95 fee each subsequent year, this card is a prize in itself, allowing you to earn up to $40,000 bonus points within your first three months. For business owners, the Chase Ink Cash Business Card comes to the rescue. This card also has no annual fees and gives incredible opportunities for earned points or cash back on purchases that are essential to any growing business

Credit Card By Chase

Applying for Chase Card.

The simplest method of getting a chase credit card issued to you is by applying online. The chase online portal has an array of links to direct you to the online application for your desired card. Adding to it’s usefulness, Chase even provides the option to make same day credit card payments. If you would rather communicate with a live person, Chase also provides great over the phone service for any need or inquiry, including applying for your very own credit card tailored to your needs.

The Bottom Line

All things considered, a secured credit card by Chase is a great asset to have in your wallet. With fair interest rates, low fees, and chances for free travel, or even cash back, applying for any chase card is definitely a sound decision for anyone who is serious about their financial well being. The great reputation of this bank speaks volumes of their integrity and is a sign of their willingness to serve the consumer.