Aside from first mortgages (see ”How to Get the Right Mortgage,” Money, July 1986), they include home-equity lines of credit, margin accounts and automobile loans
(MONEY Magazine) The charge to borrowers these days: learn about lenders and what they have to offer. By doing a thorough credit check of your own, you are more likely to borrow on your own terms. To be sure, the rates on loans are low, and the range of offerings is wide. But how do you know which is the best place to go for a loan and which one to choose once you get there? Your purpose for borrowing, the amount you need, your ability to repay and your creditworthiness will dictate whom you can borrow from and the type of loan you get. Let’s say you need a loan to help pay for your daughter’s tuition at Pricey U. You head to Old Faithful Savings Loan downtown to apply for a Guaranteed Student Loan, but your family income is too high to qualify. Continue reading A home equity loan can be risky because the lender can foreclose if you don’t make your payments