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They both used local check-cashing stores to cash their bi-weekly paychecks. When a flier from Your Credit, a payday loan store on South 27th Street, came in the mail, Latoya decided to check it out. The flier promised quick cash, no credit check and …
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Tips To Prepare For a Mortgage Application


Chicago, IL (PRWEB) May 01, 2015

Peoples Home Equity knows applying for a loan can seem intimidating. However, the process is quite simple; one just needs to be prepared before applying for a loan.

By following a few simple tips one could be confident in their mortgage application.

1. Check the credit history

One must make sure their financial history is in order. Many times home loan applicants are surprised to find that there is an error on their credit report. This is often after the lender has run their credit history. Unfortunately, once an error is discovered, it usually takes 30 days to repair which means the applicant must wait a month before the lender can pull the credit report again in hopes that the error is gone and the score is higher. One error that is common is when a person is the secondary authorized user of a credit card. Young first-time home buyers run into this problem if they are authorized to use their parents credit card. A credit agency may mistake the young authorized user as a person responsible for the balance on the card. If the card carries a high balance and the error is not fixed it can severely affect ones score thus risking a higher mortgage rate or worse, being denied a loan. Peoples Home Equity strongly recommends making sure this first step is completed before submitting a home loan application.

2. Make sure the numbers add up

Prospective home buyers should know the numbers very well regarding how much money they can borrow, what price range of home they can afford, and what their monthly mortgage payment would be. Peoples Home Equity offers a range of calculators to answer any financing concerns one may have. For example, by using the How Much Can I Borrow tool, a couple applying with a combined gross income of $ 80,000 at a 4% interest rate, with $ 1,500 in monthly debt obligations, bidding on a home with property taxes of $ 2,500/year should be allowed to borrow up to $ 139,000 or $ 666.67 monthly payment. If one just wants to focus on the monthly payment, a good rule of thumb is that for every $ 50,000 in loan size at a 4.5% interest rate the monthly payment is $ 250.

3. Pay down debt other debt obligations

Peoples Home Equity knows that cash is often king and required as a down payment on a home. However debt is burdensome and can affect the rate and eligibility of a mortgage applicant. One does not need to spend their cash to lower their outstanding debt obligations but instead try to dedicate more money from each paycheck on paying off debt sooner. Lenders like to see responsible lien holders; do not miss any monthly payments on credits cards, student loan, auto loan, etc. A steady reliable payer has a high chance of being approved for a home loan.

If interested in purchasing a property and are in in need of a mortgage, consider speaking to a Peoples Home Equity loan officer today at: 262-563-4026







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PenFed Department Providers Come Back To San Antonio, Tx

Alexandria, Va. (PRWEB) March 12, 2015

Pentagon Federal Credit Union (PenFed) these days announced it is bringing back once again branch functions into the San Antonio community. The branch will officially start its doors for service on Monday, March 16 at 9 a.m. A full months worth of grand orifice tasks will continue through March 20.

It is outstanding time for the community of San Antonio, said Kevyn Myers, executive vice president and chief operating officer with PenFed. We’re really worked up about bringing involved, individualized member solution back to this city. We wish our users to have the very best in financial products and services and a branch presence allows us to make that knowledge even better. Now its time to honor this minute with a celebration.

To really make the statement authoritative, the San Antonio part group encourages both the public and military communities in the future and go to a full few days of grand opening event tasks. Constant themed events will undoubtedly be held March 16 – 20, from 9 a.m. until 4 p.m.

An official ribbon-cutting ceremony and available residence special event will mark the grand orifice finale on Friday, March 20. The ribbon-cutting service starts at 10:00 a.m., with an open residence event to instantly follow and carry on until 4 p.m.

Grand Opening Event Plan:

The everyday grand opening events will operate from 9 a.m. until 4 p.m. Daily will feature food, light refreshments, and giveaways:

Monday, March 16 – orifice time: Meet and Greet.
Tuesday, March 17 – Timeless and Vintage Car Day
Wednesday, March 18 – Truck Day: Come have a look at newest demo trucks on show from participating regional dealerships.
Thursday, March 19 – army and Service businesses Day: speak to local community army and service companies through the day.
Friday, March 20 – Ribbon Cutting and Open home Celebration: get in on the PenFed part group for the state ribbon-cutting occasion and available house. The ribbon-cutting service starts at 10:00 a.m. Friends will include: visiting professional officials from PenFeds main workplace, neighborhood army demand and civil management groups.
Manuel Serna will handle branch operations. Serna is a San Antonio native just who received his bachelors degree through the University of Tx at Austin in 2005. Hes currently seeking their MBA at Tx A&M University with focused studies in venture Management. Although not used to the PenFed staff, Serna brings significantly more than 10 years of expertise when you look at the credit union industry.

Im stoked up about PenFeds return to my hometown, stated Manuel Serna, San Antonio part supervisor for PenFed. PenFeds financial loans are competitive, innovative, and richly diverse; therefore i’m looking forward to helping brand new and present people take advantage of these types of services in order to feel confident about their economic alternatives and goals.

The San Antonio branch offer complete service businesses; to add PenFeds full-suite of lending options such as ATM, cash and deposit solutions, and auto, watercraft, motorcycle, home loan funding, and more.

We actually want to encourage everyone else to become listed on us when it comes to gathering. This might be a chance the public to come tour the branch, enjoy daily giveaways, visit with all the branch team, and fulfill local armed forces and community leaders, stated Serna.

The branch hours of operation are Monday through Friday from 9 a.m. until 4 p.m. The part is located at 14603 Huebner Rd., Building 38; Suite 1 in San Antonio.

To learn more about PenFed or membership qualifications, call 800-247-5626 or visit PenFed.org.

About PenFed

Established in 1935 given that War Department Credit Union, PenFed is one of the biggest credit unions in the united kingdom, providing 1.3 million users global; with almost $ 18 billion in assets. Its long-standing mission has been to offer superior economic solutions in an inexpensive way, while being responsive to members needs. PenFed provides market-leading mortgages, vehicle financial loans, credit cards, checking, and an array of other monetary solutions having its members interests always in mind. Serving a varied populace, PenFed offers various ways in order to become a part; including numerous employee teams and connection affiliations. PenFed is federally guaranteed because of the NCUA and is the same housing lender. PenFed does business in accordance with the Federal Fair Housing Law, the Equal Credit Opportunity Act, and it is an associate of NAFCU. To learn more about PenFed, check out PenFed.org, like us on Twitter and follow @PenFed on Twitter. Interested in working for PenFed? Check always united states on Linkedin.







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