Obtaining an auto loan can be tricky, but with the proper knowledge and preparation, you can increase your chances of getting approved for the financing you need. Whether you’re a first-time car buyer or looking to refinance your existing loan, these tips will give you the information you need to make the process as smooth as possible. How to Increase Chances of Auto Loan Approval? Understand your credit score: Your credit score is one of the most important factors lenders…

Often used for home improvements, debt consolidation, or other significant expenses, a home equity loan, also known as a second mortgage, allows homeowners to borrow money using the equity in their home as collateral. These loans also come in two forms, as a lump sum, wherein the borrower receives the full amount of the loan up front or as a home equity line of credit (HELOC) which allows for a borrower to draw down on the loan over a period…

Are you heading off to college? If you are considering getting student loans, you are not alone! Before getting a student loan, try applying for scholarships and grants to cut costs. You can also opt to work part-time or set up a tuition installment plan. However, if securing a student loan is an option, you need to know how to determine which type of student loan is best for you. What to Consider in Choosing a Student Loan  There are several student loans…

A personal loan comes in two “flavors.” It can either be a secured loan or an unsecured loan. When it comes to checking out your option for personal loans, it is important to make sure you know how they work. Knowing how these types of personal loans work allows you to decide which type of personal loan is the best for you. You can secure a personal loan for almost any purpose such as renovating your home, going on a dream vacation, paying for a…

When unexpected circumstances arise wherein you will need some extra cash, however you do not have enough on hand, personal loan can be your lifesaver. When managed well, a personal loan can be an efficient and effective way to borrow money from a lender for any purpose. Since a personal loan has a fixed interest rate and scheduled payment, you can choose a loan and payment amount that is within your budget. Also, personal loans have lower interest rates. Typically,…

Having financial literacy at a young age allows children to reap many benefits when they are older. Opening a savings account for your child is the best way to get him started in this educational venture. Many banks and credit unions offer special personal savings accounts for young children. This enables them to level up from the piggy bank style of saving to having a bank account to instill a savings habit. Why your Child needs a Savings Account? Parents…

As a small business owner, you need to oversee all aspects of the business including the financials. Managing the finances of your business can be daunting but you need to understand all the components needed to track your business’s finances. Having business accounts is a good starting point. It may be simpler and the least expensive to maintain the same business and personal bank accounts. The truth is many small business owners are tempted to use their personal bank accounts…

Shopping for home loans gives you a clear picture of how much home you can afford and the mortgage payments you are expected to pay monthly. The best time to start shopping for house loans is within 90 days of buying your home. Understanding How Mortgage Loans Work A mortgage is a contract between you (borrower) and a lender to loan you the money to buy a home. Home mortgages terms can either be 10, 15, 20, or 30 years…

Help kids save money with these teaching tips If you want to teach kids money management and the importance of saving, it doesn’t hurt to start early. Research shows that children grasp how money works as early as age 3. By age 7, they begin to hone money habits. Plus, many adults say they would have benefited from early instruction in money matters. In a recent survey, 1 in 4 U.S. adults with children under 18 said their parents provided…

It’s never too early to start thinking about buying a new vehicle. When you do, make sure you’re prepared with our tips and guidelines on everything from auto loan programs to vehicle searches. Our friendly loan professionals are experienced in vehicle lending and can guide you through many of your auto buying considerations. Greater Alliance can help you find and finance your next car all in one spot. So, you’re in for a great experience when you visit our Auto…