Credit reporting Parkersburg

Worksheet: Getting Bids & Selecting a Contractor This worksheet can credit reporting Parkersburg help you select a home repair credit reporting Parkersburg contractor and compare bids. Ask contractors questions and write down their answers. If you compare at least three contractors, you may find a better deal.

See the Glossary below to learn about any terms you don't understand. Adjustable Rate Mortgage (credit reporting Parkersburg ARM): A home loan credit reporting Parkersburg where the interest rate can go up or down during the time you are repaying the loan. Annual credit reporting Parkersburg Percentage Rate (APR): The cost of a loan expressed as a percentage rate. It includes both the interest rate on the loan and many of the costs in getting the loan. Balloon Payment: This is the very large payment that is due at the credit reporting Parkersburg end of some loans. A balloon credit reporting Parkersburg payment means that the borrower's monthly payments are used to pay the interest on the loan and that little of the payment credit reporting Parkersburg is used to pay back the amount that was borrowed. Unless you know how you will make this payment, these loans can be risky. Bid: A written estimate credit reporting Parkersburg of what your home improvement project credit reporting Parkersburg will cost. credit report with Closing Costs: All of the "other" costs that you credit reporting Parkersburg have to pay when borrowing money. They could include fees for credit reports, land survey, appraisal, title credit reporting Parkersburg search, title insurance, document preparation, notary, points, credit life insurance, and attorney fees. Credit Insurance: An credit reporting Parkersburg insurance policy (such as life, disability, or unemployment) that pays the lender the balance of the loan if credit reporting Parkersburg something happens to the borrower before the loan is paid off. Sometimes the lender adds the entire credit reporting Parkersburg price of the policy to the amount you are borrowing and this is very expensive because you pay credit reporting Parkersburg interest on that amount. Credit credit reporting Parkersburg Report: Credit bureaus collect information about your credit history-where you owe money, how much you owe, your credit cards, and your payment history. free business credit report Lenders determine whether to give you a loan and how much to charge you based on information in your credit report. Credit Score: Your credit score is a number that is used by lenders to decide whether to give you credit and at what cost.

It is based on information in your credit report. Equity: The difference between what your house is worth and what you owe credit reporting Parkersburg on it. For example, if your house is worth $150,000 and you owe $100,000, your equity credit reporting Parkersburg is $50,000. Fraud: Dishonest business practices that lead to your doing something against your best interest.

Housing Counselor: Counselors can help you explore your options, find a loan, and explain loan documents. The Department of Housing and Urban Development (HUD) certifies housing counselors. Installment Payments: Partial payments made credit reporting Parkersburg to home improvement contractors as the work is being done.

Interest: The percentage rate lenders charge you for using their money. Line of Credit: A pre-approved amount that you can borrow. Mortgage Broker: A person you pay to help you find a lender.

Points: Each point is 1% credit reporting Parkersburg of the amount you are borrowing. free credit report federal Predatory Lenders: Lenders who take advantage of borrowers and make loans that the borrowers cannot afford. They may charge very high interest rates or fees, hide costs, or lie about loan terms. Principal: The amount of money that credit reporting Parkersburg you borrow.

Reverse Mortgage: A credit reporting Parkersburg home loan you do not have credit reporting Parkersburg to pay back for as long as you live in the home.