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!

---

Home Loans For People With Adverse Credit History

Whether you are planning to purchase a home for the... Read More

Home Mortgages: Up, Up and Away!

Refinance NOW-before it's too lateIf you haven't found the time... Read More

Hard Money Loans - Reasons Why You Might Want To Try Applying With A Subprime Mortgage Lender

Before you apply for a hard money loan, try applying... Read More

How to Find the Best Home Improvement Loan

If you're looking for the best home improvement loan for... Read More

Types of Financing for Your Mortgage

When financing a home purchase, the kind of mortgage you... Read More

Types of Mortgage Interest Rate

Here is a useful guide to the different types of... Read More

Guide to Home Equity Loans

Here is a useful guide to home equity loans. A... Read More

What is a Remortgage?

A remortgage is changing your mortgage without moving your home.... Read More

Thinking About Re-mortaging? Read These Tips First

More and more of use are signing up for limited... Read More

Buying A Home? Reasons to Consider Financing Your New Home Loan Online

Financing your new home loan online can save you time... Read More

How do I know what is the best Second Mortgage Home Loan for me?

The information in your credit history helps mortgage lenders decide... Read More

Should You Refinance Your Mortgage if Interest Rates Drop?

Mortgage refinancing is when you take a mortgage of a... Read More

Home Equity Loans

Home equity loans are a popular way for homeowners to... Read More

Find the Best Mortgage Company

If you do not wish to commit to living in... Read More

Home Equity Loan ? Beware of Equity Stripping Scam

The market for mortgage refinancing has been brisk during the... Read More

Home Loans: To Substantiate Financial Possibilities On Your Land

Availability of Home loans is in full bloom. They are... Read More

Types Of Home Equity Loans

There are two broad types of home equity loans:Term loans:... Read More

Why Choose a Remortgage?

A remortgage can be used for the purpose of gaining... Read More

Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy

If you have a recent bankruptcy on your credit and... Read More

Mortgage Refinancing Companies -- Choosing The Right One

Searching for a mortgage refinance company can be a daunting... Read More

Composite Credit Report Score Simplifies Mortgage Issues

Do you want a mortgage loan for your new home?... Read More

Why You Should Not Get Hung Up on the Interest Rates!!

This is what a mortgage can do for you!AND Why... Read More

Home Equity Loans ? A Big Benefit Or A Big Mistake?

When the bills are piling up and there doesn't seem... Read More

What On Earth are Home Equity Loans?

Home equity loans are one of the most common types... Read More

A Home Loan Can Help You Own Your Dream Home

Owning your dream home need not just be a dream.... Read More

Home Loans and Mortgages ? Tips to Avoid Foreclosure

Today's real estate market is a volatile one; prices are... Read More

How To Get The Best Home Equity Loan

Are you wondering how to get the best Home Equity... Read More

Say Yes to ISA Mortgages for a Convenient Mortgage Repayment

Customers who opt for an interest only mortgage, and feel... Read More

Buy To Let Mortgages ? To Let in Reasonable Capital Growth with Financial Obligation

Every individual needs a home and every home needs an... Read More

New York Refinance - Refinancing in New York

If you are looking to refinance in New York, it... Read More

Guide to Flexible Mortgages

Outlined below is a useful guide to flexible mortgages. Flexible... Read More

Save Time With a Bridge Loan

Why You Need a Bridge LoanYou have to move fast... Read More

Refinance Online

If you want a low interest, low payment mortgage refinance,... Read More