A home mortgage is usually 30 years at a much larger monthly payment.
Car loans are about 4-5 years with a much lower payment.
You need a good job, good credit and a down payment for both.What are the differences between home mortgages and car loans?
A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.
In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount. The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent.
The same difference between the automobile and the house. Cars lose value after 10 years, and homes appreciate in value over 30 years - in a normal market.
Car loans are revolving loans while mortgages are ... not... they are mortgages.
length and amount of loan
the scams such as insurances that gets bundled in the mortgage loan
the term... and the rate, and the credit necessary mand the closing fees and.....
Fast Credit Loan Company Ltd.
14 Cabot Square,Fulham,
London,United Kingdom
Tel Num: +447045723089.
Fax Num: +447044523088.
Email: fastcreditloan@ire.ir
www.fastcreditloan.net
Attn Dear Customer,
We are registered and legitimate loan lending firm based in
United Kingdom. We give out loan to Individuals, families,
student, Organization, Business Men and women who are into
Business transaction. We give out long term loan and short term loan for three to ten years maximum with your interest in this you can as well tell me the amount you need so that We send to you the terms and conditions that is if you are really interested in getting a loan from Fast Credit Loan Company Ltd.
Loan are given out in Pounds, Euro and $US the maximum We give is
3,000,000 both in pounds and $US and the minimum 6,00 pounds and US$. There is one Question I have to ask are YOU a serious individual that we take a loan and pay back after duration with the interest, if you are honest I will trust you because we like to do business with Honest people if you are one you will get the loan even if your bank have refuse to offer you a loan because of your bad credit, We will offer you the loan and put a final stop to all your financial needs.
If you are interested you have to send the amount you need as
loan so that we can give you the terms and conditions on the
loan for your information loan are given to every part of the
world on honest people so if you are honest apply for the loan now contact us via e-mail:fastcreditloan@ire.ir
You are to get back to us with this information, loan application form
stated below:
* Applicant full name:...................................鈥?br>
* Applicant Contact Address:..............................
* Phone No:.....................................
* Country:................................鈥?br>
* Age:....................................鈥?br>
* Marital Status:................................
* Amount Required As Loan:............................
* Proposed Terms/Duration Of Loan:..................
* Annual Income:.................................鈥?br>
* Occupation:.............................鈥?br>
**************************************鈥?br>
Mode of Payment:
* Payment by bank to bank transfer
* Payment by bank certified check(courier)
* Western Union Money Transfer
* Money Gram
**************************************鈥?br>
Sir, Wic Williams
Loan Managing Director
Fast Credit Loan Company Ltd.COPYRIGHT 漏 2009 ALL RIGHT RESERVED
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