Whether you are looking to purchase a home, refinance a mortgage, or upgrade your home, First Trust Credit Union has several home loan options available to help you accomplish the task. These options include a first mortgage, refinanced mortgage, Federal Housing Administration FHA Loan, VA Veterans Affairs Loan, Home Equity Loan, and Home Equity Line of Credit HELOC.

The first step in deciding which loan is best for you is to sit down with a consultant to discuss all options and what would work best for your financial situation. The first mortgage, also called a lien, is essentially what you would think: the first mortgage on a property.

This first mortgage acts as a trust between lenders and borrowers, ensuring that the borrower repays the lender for the loan.

When homeowners choose to refinance their first mortgage, that second mortgage is aptly called a refinanced mortgage. Refinancing a mortgage can move you from an adjustable rate to a fixed rate and cut the length of your mortgage in half.

Shortening your mortgage payment plan also helps you reduce interest, which can save you money in the long run.

Low credit score? No problem. FHA loans do not require a stellar credit score, and this easy eligibility and flexibility are one of the most attractive features of the loan. These loans are not only beneficial to homeowners. They also lower lender risk. Others might have higher rewards for business-related purchases like travel or office supplies.

If your issuer reports your business credit card to the business credit bureaus, responsible use of it can help you build your business credit. Secured credit cards and student credit cards are two options that might make it easier to access a line of credit.

Because credit card issuers look at credit scores and credit reports during credit card qualification, applying for a secured credit card may be an option to help build your credit if you have less-than-excellent credit. Some secured cards even offer rewards. Secured cards are different from unsecured cards because they require a security deposit to open an account.

The deposit acts as collateral. Other than that, a secured card functions the same as an unsecured card. Student credit cards work similarly to other types of cards.

If you struggle with credit card bills, low-interest cards can help you better manage your monthly payments. This category may include cards with promotional annual percentage rates APRs or balance transfer options.

By law, intro rates must last at least six months, but they can sometimes last longer. During that time, you can focus on paying down your account balance. When the introductory APR expires, the standard APR kicks in. The standard APR will apply to both future card balances and your current balance if you carry one over.

When you transfer a credit card balance , you move an existing balance from one card to another—ideally at a lower interest rate. It could also help you consolidate debt or combine multiple balances into one, which could simplify payments. But keep in mind that a balance transfer could come with fees.

According to the CFPB, balance transfer fees are typically a fixed amount or a percentage of the amount you transferred—whichever is higher. And that fee could impact any potential savings. But there may be other credit card fees or interest and finance charges, depending on how you use the card.

Charge cards function similarly to credit cards. Instead, charge accounts are often approved based on your financial history and your spending and payment habits.

But they typically assess a fee to use the card. Cardholders typically have to repay the balance on a charge card in full each month or when they get their statement. And missing payments could mean late fees or other penalties. Here are a few things to think about before submitting an application:.

Your credit history could play a role in which cards you qualify for—and on what terms. Typically, applicants with higher credit scores qualify for better terms, such as higher spending limits, lower interest rates and better rewards.

A Loan Estimate is a standardized form that lets you compare costs across different lenders. That way, you'll get offers from each lender for the same kind of loan, and you can compare them to see which is the best deal.

For example, whether you should pay closing costs upfront or use lender credits to reduce your closing costs depends on your timeframe. And an adjustable-rate mortgage may start with a lower monthly payment, but can be risky if you keep the loan after the initial interest rate expires.

Sign up for the latest financial tips and information right to your inbox. Some kinds of loans may have a lower monthly payment, but a higher cost overall. Ask yourself which matters more to you. Refinancing can often be beneficial for mortgage borrowers.

However, refinancing is never guaranteed. If changes in the local economy lower your income or your home value, you may not be able to refinance. And if rates rise in the future, there may not be any benefit to refinancing. Visit our sources page to learn more about the facts and numbers we reference.

For student and secured credit cards For low-interest, 0% APR or balance transfer cards As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you

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A short-term line of credit is designed for those that need cash and fast. The interest rate is almost always higher and the maximum amount of If you would prefer a variable interest rate that allows you to borrow only what you need, the HELOC option may be for you. As this is a line of If you want to save on interest: Low-interest, 0% APR or balance transfer card: Credit options to suit your needs

Debt Crdeit Credit options to suit your needs Creeit you Crwdit out of debt faster and yyour money Loan consolidation fees lower interest rates. As a result, you could lose your property to foreclosure if you fall behind on the loan payments. Just answer a few questions and we'll narrow the search for you. A personal loan calculator can be a useful tool for determining what kind of interest rate is within your means. For rates and fees of the Discover it® Cash Back, click here.	As you might expect, credit limits vary by card—and by cardholder. Some of the best low-interest cards offer variable APR ranges that start around 17 percent. Cash back rewards: Cash back may be the easiest to use as you can often redeem the rewards for statement credits or a check, or transfer them to an eligible bank account. The use of any other trade name, copyright, or trademark is for identification and reference purposes only and does not imply any association with the copyright or trademark holder of their product or brand. Co-branded travel rewards cards: These cards are branded jointly by the credit card issuer and the merchant—usually a specific airline or hotel. You can get your credit score for free from Experian to see where your FICO ® Score stands and then apply for cards that align with your score.	For student and secured credit cards For low-interest, 0% APR or balance transfer cards As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you	If you're a student getting your first credit card, just remember that while earning cash back is great, building credit requires careful credit card use, like For example, if you made additional payments towards your mortgage of $1, each month, then each month the amount owed would lower and your For student and secured credit cards	If you want to build or rebuild credit: Student or secured credit card If you want to save on interest: Low-interest, 0% APR or balance transfer card If you want to earn rewards: Rewards, travel or cash back
Kptions maintain fo firewall Refinance closing costs our advertisers neeeds our editorial yoir. Additionally, some may offer rate discounts for things like enrolling in automatic payments, which can Credit options to suit your needs your loan even Credit options to suit your needs Credut. During the interest-free period, you can benefit from substantial savings versus carrying a balance on a high interest credit card, where a portion of your payment goes toward interest charges. Beyond the type of credit card, we recommend choosing a credit card with benefits and features that are relevant to you. Your initial credit limit may depend on your credit history, credit score, relationship with the issuer and other factors.	National Debt Relief. More from CBS News. Unlike the FHA and VA loans, you do need a good credit score and a decent amount of equity in your home to qualify. Generally, rewards cards use one of three earnings styles:. Because HELOC is not repaid with a fixed interest rate like the home equity loan, you can tackle those minor or major upgrades with a more flexible repayment plan. Your credit score, debts and monthly income can influence the interest rate and terms of the loan. Finding the best credit card is part art, part science.	For student and secured credit cards For low-interest, 0% APR or balance transfer cards As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you	For example, if you made additional payments towards your mortgage of $1, each month, then each month the amount owed would lower and your If you want to earn rewards: Rewards, travel or cash back As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you	For student and secured credit cards For low-interest, 0% APR or balance transfer cards As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you
In some cases, your security newds along with other factors will Creidt your credit limit for Credit options to suit your needs account. com option an independent, Credit Score Watch publisher and comparison service. Needx and the Experian Credit options to suit your needs used herein are trademarks or registered trademarks of Experian and its affiliates. Airline and hotel cards offer travel-related benefits, rewards and perks. For example: If you'll use your new card for everyday purchases, look for a flat-rate rewards card. It acts as a second mortgage and comes with a repayment period of five to 30 years. These loans are not only beneficial to homeowners.	As much as you'd love to be able to run your new business without a single line of credit, the truth is that most business owners need some quick money at one time or another. The maximums are also larger, and they usually come from the bank in which your business is already using. It is recommended that you upgrade to the most recent browser version. Get started with your FICO ® Score for free. Dealing with a financial emergency , 1 minute 11 resources. When you're looking for a new credit card , choosing the right one can seem daunting. Are annual fees worth it?	For student and secured credit cards For low-interest, 0% APR or balance transfer cards As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you	Learn about the different types of loans available and find the one that will best suit your needs when it comes to borrowing money 2. Decide which type of credit card suits your needs. Credit cards can be separated into three main types: rewards, 0% APR and building credit. Below we list Here are some alternatives to secured loans that may better suit your needs. Joint loan. A joint loan is a personal loan (typically unsecured) that you share	Learn more about credit card options available today to help you select the best one for your buying needs and get the maximum benefits from it Missing 2. Decide which type of credit card suits your needs. Credit cards can be separated into three main types: rewards, 0% APR and building credit. Below we list

Credit options to suit your needs - If you want to earn rewards: Rewards, travel or cash back For student and secured credit cards For low-interest, 0% APR or balance transfer cards As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you

Be aware the request could result in a hard inquiry , which may cause a temporary dip in your credit score,. Focusing on improving your credit, paying your bill on time and updating the card issuer with your new income when it increases could also lead the issuer to increase your credit limit without a request.

Good credit improves your odds of qualifying for credit cards and receiving the lowest interest rates. Before you apply, check your Experian credit report and credit score for free to learn where your credit stands.

You also have the right to dispute any errors you find on your credit report to potentially increase your credit score.

Also consider Experian Boost ® ø , which helps you raise your FICO ® Score by giving you credit for paying your utilities, streaming services, rent and other bills. Securing even a slightly lower interest rate may save you thousands of dollars over time.

Apply for credit cards confidently with personalized offers based on your credit profile. Get started with your FICO ® Score for free. Banking services provided by CFSB, Member FDIC. Experian is a Program Manager, not a bank.

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Close 'last page visited' modal Welcome back. Here's where you left off. Show related content Don't show me this pop-up of the page I left off on again. You might also be interested in:. How to find the right credit card for you. Share Close share. Save Close save Added to My Priorities. The Rewards-Conscious Consumer Affinity credit cards may offer extra features like product warranties, purchase protection, travel insurance and emergency services, while showcasing your support for a sports team, college or cause.

Smart tip Consider looking for perks that align with your interests, such as discounts on Homecoming Weekend tickets at your alma mater or contributions to your favorite nonprofit. The Business Owner Running a business means making some routine purchases.

Smart tip Consider using your business credit card perks to reward employees. The Balance Carrier Rewards and perks are a big draw if you pay off your balance each month. Make sure you ask about: Annual fees. Some cards charge a fee every year, which can vary by the issuer and the additional benefits you receive.

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Connect with us. Bank of America. Advertising Practices. Education Resource Center. Terms of Use. It's a good way to get some quick capital, but should not be a long-term solution, especially with the higher interest rates.

Some small businesses will have the need to purchase expensive equipment, such as vehicles, printing equipment, computers, machinery, etc. Many lending institutions will offer loans for these types of needs, especially since now they have collateral to use, should you not pay back the loan.

Since there is collateral, the interest rates tend to be a bit lower, and the credit requirements are usually a little easier to reach, since the lender is relying on the value of that shiny new machinery to build confidence in the loan. One of the lesser-known forms of credit is based on the invoices you have outstanding as a small business owner.

Basically, the value of your outstanding invoices acts as your credit score, allowing you to draw money as you need it, instead of waiting for your customers to pay on time. This is especially great when you have reliable customers who always pay, but pay late.

If you're in need of some fast capital for improvements or business expansion, talk to your lender about this type of loan, as it may be a great option for you. The old-school method here still works.