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!

---

How to Shop Around for the Cheapest Mortgage Deal Online

Before you start shopping around for a mortgage, you need... Read More

A Guide to Selecting a Mortgage Broker in Australia

Once you have made the decision to buy a home... Read More

Mortgage Glossary of Terms

A brief list of some of the most common Mortgage... Read More

Selecting the Right Mortgage for You

A mortgage is a loan you take out to buy... Read More

Home Equity ? Is it Time to Cash Out and Move?

During the last five years, home prices have increased nationwide.... Read More

Home Mortgage Loans For People With Bad Credit

Getting a home loan with bad credit has actually never... Read More

Multi Family Property Living

While most multi family properties are designed to allow the... Read More

Guide to Flexible Mortgages

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

Your Mortgage Rate Compare and Save

When trying to obtain the best mortgage rate compare offers... Read More

How to Utilize Your Cash Investment in Your Home

Have you ever noticed how hard it can be to... Read More

A Guide to Finding the Cheapest Home Improvement Loan

To find the cheapest home improvement loan that you can,... Read More

Composite Credit Report Score Simplifies Mortgage Issues

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

Home Mortgages: Does a No-closing-cost Loan Make Sense for You?

I have heard a number of radio ads and have... Read More

Stated Income Mortgage Loan - Get Approved Online

A stated income or no doc mortgage loan allows individuals... Read More

Zero Down Payment Mortgage ? Can It Be Done?

"I've been renting for years now; I've always paid my... Read More

Home Equity Loan Considerations

In other words, the benefit of the loan must outlast... Read More

Home Mortgage Loan Refinancing Online - 3 Tips on Refinancing Your Home

When refinancing your home, it's helpful to know a few... Read More

Mortgage Terms Explained

When you are hunting for a mortgage, you will find... Read More

What to Really Expect for Closing Costs

Closing on a property is a very challenging time for... Read More

Self Employed Mortgage Loans - A Survival Guide

When you're self employed you have numerous advantages. As you... Read More

Stop Foreclosure - 7 Tips to Save Your Home

Faced with the threat of a foreclosure on their home,... Read More

Home Loans ? Repair Credit Errors in Three Days!

Most consumers are aware that a history of paying bills... 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

Bad Credit Home Loans - Pre-Approval is Still Possible With Adverse Credit History

If you are among the millions with less than perfect... Read More

Adjustable Rate Mortgage - How They Work?

How does an ARM work.The borrowers interest rate is determined... Read More

First-time House Buyers: to Buy or Not to Buy; that is the Question

Buying your first house is always a difficult time. There... Read More

Home Loans for Credit Challenged Borrowers

Just because you have negative items on your credit report... Read More

Home Equity ? Let the Market Eliminate Your Private Mortgage Insurance

In decades past, most people who were interested in obtaining... Read More

Is the Inverse Mortgage a Scam? New Program Promises Mortgage Payoff inside of 5 Years

If a mortgage could be paid off in five years... Read More

Home Equity Loan ? A Reverse Mortgage Could Provide a Comfortable Retirement!

While only comprising about 1% of all mortgages, the reverse... Read More

Free Home Equity Loan Information

Home equity loan information can sometimes be confusing and misleading.... Read More

FHA Mortgage: When Your Downpayment is a Gift

There has been so much fraud discovered in the FHA... Read More