Mortgage Types – Mortgages are an essential part of the home buying process for most borrowers who aren’t sitting on hundreds of thousands of dollars of cash to buy a property outright. There are a multitude of different types of home loans available for whatever your circumstances may be.

Commercial Loan

What Is a Commercial Loan?

A Commercial Loan is a debt-based funding arrangement between a business and a financial institution such as a bank. It is typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford. Expensive upfront costs and regulatory hurdles often prevent small businesses from having direct access to bond and equity markets for financing. This means that, not unlike individual consumers, smaller businesses must rely on other lending products, such as lines of credit, unsecured loans or term loans.

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Hard Money Loans by USABANCORP 2023

What Is a Hard Money Loan?

A Hard Money Loan is a type of loan that is secured by real property. Hard money loans are considered loans of “last resort” or short-term bridge loans. These loans are primarily used in real estate transactions, with the lender generally being individuals or companies and not banks.

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Home Equity Loans 2023 USABANCORP

What Is a Home Equity Loan?

Home Equity Loans – also known as an equity loan, home equity installment loan, or second mortgage is a type of consumer debt. Home equity loans allow homeowners to borrow against the equity in their homes. The loan amount is based on the difference between the home’s current market value and the homeowner’s mortgage balance due. Home equity loans tend to be fixed-rate, while the typical alternative, home equity lines of credit (HELOCs), generally have variable rates.

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Buy a home worth celebrating usabancorp

Buying a Home

Buying a Home can be a truly rewarding experience. It’s also one of the biggest investments you’ll make. From finding your new place to getting the keys – we’re here to help. A home is most people’s biggest purchase. A thoughtful, thorough, and comprehensive approach will suit you well when it comes to buying the real estate where you’re going to be spending a significant portion of your time.

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Refinance USABANCORP What It Is How It Works 2023

What Is a Refinance?

A Refinance, or “refi” for short, refers to the process of revising and replacing the terms of an existing credit agreement, usually as it relates to a loan or mortgage. When a business or an individual decides to refinance a credit obligation, they effectively seek to make favorable changes to their interest rate, payment schedule, and/or other terms outlined in their contract. If approved, the borrower gets a new contract that takes the place of the original agreement.

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