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Belco's Online Banking

Archive for May, 2020

going through the mortgage loan process for buying a home

Mortgage Loan Process: A Step-By-Step Guide

access_time Posted on: May 12th, 2020

Qualifying for a mortgage can feel like a daunting task with all of the paperwork, documentation, and steps needed to go from pre-approval to closing. However, having an understanding of the mortgage loan process in advance can make the journey easier. Keep reading for a simple step-by-step guide to getting a home mortgage loan. Prepare Your Finances Before you ever apply for a mortgage, you want to prepare your finances for making this large purchase. To do so, here are a few steps you should take: Check your credit score Your credit score is a significant indicator of your ability to qualify for a mortgage. That’s why it’s essential to… read more »

Applying For An Auto Loan: 5 Factors To Consider

access_time Posted on: May 12th, 2020

There are more options now than ever for getting an auto loan. However, not all car loans are created equal.  When going through the process of applying for an auto loan and reviewing your options, you want to be sure that you find the best loan available to you. In doing so, there are certain factors you want to consider. Here are five things to look for when getting an auto loan: Interest Rates You want to score the lowest interest rate possible on an auto loan. Low-interest rates paired with other good loan terms will provide you with a better quality auto loan.  Your interest rate will vary based… read more »

couple making mortgage decisions

Types Of Mortgage Loans: A List Of Options

access_time Posted on: May 12th, 2020

Life situations differ wildly, so buying a home will look a little different for each person and family. As such, mortgage loans come in numerous types to accommodate many different scenarios. Fixed-Rate Mortgage The most common type of mortgage is a fixed-rate loan. Fixed-rate mortgages have an interest rate that remains consistent throughout the life of the loan, meaning monthly payments are predictable. When to choose a fixed-rate loan These mortgages are fairly standard, which means many home buyers opt for them. They tend to be best for buyers with good credit who buy when rates are low since they can lock in a solid rate early on. It’s worth… read more »

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