Month: February 2020

Financial credit institution insurance and guarantees for both lenders and borrowers

by Samuel Dunn
When opening a line of financing through a loan, it is highly recommended to do so before a notary. In this way it is recorded that the loan has been made with the consent of both parties, offering the necessary security and legal guarantees.  In fact, all banks register their loans before a notary, be they personal loans, mortgages and lines of financing of any kind. Finance institution acts in the same way: offering loans with Financial credit institution insurance and guarantees for both lenders and borrowers.

Financial credit institution insurance loans

Financial credit institution insurance loans Finance institution is regulated by the Ministry of Health and Consumption, complying with all legal and operational requirements to work in the private lending sector. This feature and what we have commented previously (that each and every one of our loans are signed before a notary) offers our clients the guarantee that they are applying for loans with Financial credit institution insurance.

Characteristics of our loans

Characteristics of our loans Finance institution is much smaller than a bank. We have a small team of advisers and experts in the real estate and financial sectors and, therefore, this smaller size gives us greater flexibility compared to a bank. The client can choose the form of repayment of his loan so that the fact of having a debt does not impact his daily finances. Although we make available to the client an advisor who will solve all their doubts throughout the life of the loan, we never recommend that more than 30% of our income be used to pay debts. Our team of finance experts will design a payment plan tailored to your personal situation. Thus, the customer will be able to choose the number of installments, the type of payment, the duration of the loan, the type of repayment and even access a grace period of up to 2 years.

Access requirements to our loans

Access requirements to our loans We make available to the client all those tools that he needs to make the return of his loan as comfortable as possible. However, we also require certain guarantees from you, specifically two.

Have a real estate property

Our loans with Financial credit institution insurance are of the mortgage type, that is, a real estate will act as a guarantee in the event of default, the client must therefore have a real estate in his name and send us a simple note from the Land Registry that proves it. The property can be of any type, although the market value will determine the maximum amount that we can grant for your loan: Approximately between 30 and 40% of the appraised value.

Request a minimum of $ 20,000

This figure is what allows us to defray the fixed expenses derived from the opening of loans with Financial credit institution insurances, at the same time that we offer a competitive interest rate for both lender and borrower.

Installment loan for civil servants

by Samuel Dunn
In addition to the conventional forms of credit, credit institutions also offer a special installment loan for civil servants. This is only granted to this professional group because they bring special advantages. Civil servants work for the state and, in addition to high incomes, also have the certainty that they are almost permanent. This makes them particularly interesting for banks. Banks always want to make money from lending and want to get that money back. Officials meet all the criteria that are important when lending. The secure income, the secure job and the knowledge that they will hardly be affected by unemployment are enough to provide an installment loan for civil servants.

Advantages for civil servants

Advantages for civil servants Since civil servants enjoy a special status at banks, their jobs are also rewarded. In addition to a cheap effective annual interest rate, the loan rates are also very variable. This often results in a sum of between 50,000 and 200,000 dollars. The credit rates are very low, so that the monthly charge on the loan is hardly noticeable. The term can be up to 120 months, in exceptional cases even longer. So if you want to have a property financed or want to buy an expensive car, you have a clear advantage as an official. His wish for a large purchase is quickly fulfilled with an installment loan for civil servants. There is another advantage to choosing a bank. Due to the excellent creditworthiness that officials have, they can go to almost any bank to apply for a loan. This creates a competition between the banks. Everyone wants to win the customer over, so the conditions will be excellent.


Conclusion Officials will have no problem applying for an installment loan for civil servants. You can choose the bank and get the best conditions. You are not tied to a bank and will quickly find a suitable loan without any problems. The younger the applicant, the higher the loan amount. In this way, great desires can be quickly fulfilled, which a normal employee cannot afford.

Ways to save on interest on your loans

by Samuel Dunn
If you are shopping for a loan or want to find lower interest rates on your current loans, you can use these strategies to save money on your loans. The lower the interest rate, the less it will spend on interest rates, but it can also affect your total payment amount and how long it takes you to pay off the loan. These loan strategies can work for most loans you have.

Take a look at credit unions first

money Credit unions and small banks offer lower interest rates on loans compared to larger banks. It may take some hunting, but you may be able to lower your interest rate if you qualify for a loan through your local credit union. To get credit through a credit union, you will need to be a member of a credit union, which means you have to meet certain criteria such as living in a specific location or working for a specific employer. Taking the time to research rates offered by various local banks can save you considerable money over time, especially on larger loans such as a mortgage. You can find the current interest rates offered by looking at the bank's website.

Setting up automatic payment

Setting up automatic payment If you sign up for automatic payment, you should be able to lower your interest rate. This works for personal loans, car loans, and mortgages. Banks like it because they are more likely to pay on time with the transfer and you do not have to worry about making a payment every month. Make sure you qualify for this option with your current credits. A simple question and follow up to make sure a lower interest rate is applicable can help you save in the interest of the loan. This will usually not apply to a credit card, but it can be used on your credits. Student loans can also have this option.

Open an account with a new bank

cash Some banks will offer lower mortgage rates or interest rates on car loans if you have a checking account with them. Switching banks can definitely be worth the savings, especially if you are looking at a large loan such as your mortgage. With your mortgage, it may be helpful to use a mortgage broker that can help you find the best terms for your mortgage loan. A mortgage broker can help you find a mortgage that has that capability. While this may seem like a pain to switch accounts, it can also simplify everything to have all your accounts in one bank. Another option is to open an account and only transfer it every month.

Consolidate higher-interest loans

If possible, you can consolidate loans with higher interest rates, such as your credit cards, with personal loans with lower interest rates. These loans can allow you to pay off your debt faster because you do not pay so much in interest every month. This can be a good option as long as you follow the two basic guidelines. First, you need to completely stop using your credit cards. There is no point in borrowing money if you continue to deal with debt every month. Second, you need to avoid tying a debt consolidation loan to your house through a line of equity or another mortgage. This will put your home at risk if you are unable to pay your debts in the future. Take the time to buy a good consolidation loan. It can save you a lot of money. Additionally, make sure you stop using your credit cards before doing so. You may want to set the goal of not using them for two months so that you are no longer in the habit of taking out a consolidation loan.

Improve Your Credit Score

One of the best ways to get lower interest rates is to have a great credit score. There is no quick fix that will magically increase your credit score overnight. It is important that you deal with credit from the beginning and get interest rates. There are things you can do to improve your credit score if it's not as high as you want it to be.
  1. The first step is to catch up on past payments such as utilities and credit cards.
  2. Another thing you can do is reduce the amount you currently owe on your loan. If you use too much of your available credit, it may reduce your credit score.
  3. Additionally, you need to be careful about closing your oldest credit card accounts, as this may cause your score to decrease. If you know you will be applying for a mortgage in the coming year, you should make an effort to apply for a credit score before applying for a loan.