Types of financial loans
A financial loan is recounted to a quantity money requested a financial company by lender who must be returned in a term determined under a money-market rate corresponding to the type of granted loan. A financial loan can be mortgage, personal or of consumption. In case of the financial loan for a mortgage we must say that it is a question of a sum of money destined to the buy of a house. In general the financial loans usually have a very hard competition with those loans that are offered by the banks, and this of debit to that the banks work with a three times minor money-market rate to that of the financial companies; nevertheless, the banks are usually much more demanding in the loans requests and that's why many people resort to those that are offered by the financial companies.
To be able to obtain an information clearer than a financial loan talks each other for mortgages, basically this they usually cover between 70 % and 100 % of the value of the property that will be bought, and in turn they work the financial loan of these characteristics usually has plans of payments of period of up to 15 years with an interest per year of 3 %, what you mean that in the last monthly quota of every year we must pay 3 % additional on the entire value of the loan that was granted.  In those cases in which the financial loan does not cover to us the totality of the value of the building, of that time the remaining balance it will have to be financed by the same debtor.
Many resort to the request of personal loans, but due to the high money-market rate of the same ones, it is better to obtain the money on the other hand. If we speak a little of what it represents of acquiring the first personal financial loan we must point out that the same one is the principal cause of indebtedness. The personal loans usually short period and high interests, and precisely that's why realize have the refund of a personal financial loan is so complicated, since the opportunities for the simplification of the payment of the same sound basically void. Here we are speaking about a financial loan which interest rises up to 15 % per year in period of up to four years, which amount can go from 1.000 dollars up to 40.000 dollars, for it, if we realize the corresponding calculation, we will realize that to return it is a very big disadvantage.
Financial consumption loans
 The period of the above mentioned credits are going to change according to the quantity that is requested, since it is not the same to pay a financial loan for 2.000 dollars, to 15 % of annual interest in 2 years than to pay a financial loan for 30.000 dollars with the same characteristics; anyway let's bear in mind that the period will not spread to any more than 4 years. In case of the financial consumption loan it usually not grant any more than 2.000 dollars, this is due to the fact that the consumption loans are granted usually for expenses minor that do not imply a primary need, as well it can be the buy of domestic appliances, the financing of any trip or the furniture buy. This financial loan usually possesses period of up to two years, with interests that can come to 20 % annual, numbers very similar to those of the personal financial loans, but we must emphasize that there is a very big difference between both.
In principle, the personal loans it has a limit of money much higher than the consumption loan, it is for it that the interests valuations although they are lower, at the time of beginning to pay represent a much bigger money quantity, on the other hand, a financial consumption loan on having had a limit for 2.000 dollars to grant, the interests to be paid do not represent so much money since if we do the calculation, 20 % of 2.000 is 400, what implies that bearing in mind the maximum term of two years it would represent a whole for 2.800 dollars returned to the financial company, and in case of a financial, personal loan, approximately 30.000 dollars that must be returned within a period of 4 years to 15 % annual, it will give us a whole to be paid of 48.000 dollars, bearing in mind that 15 % of 30.000 gives like result 4.500. Finally we want to recommend to him that all these calculations indicated in this article are those that it will have to carry out when it glides to request a financial loan. It is important to know about the money-market rates with which one handles the current market, since all the financial companies work based on the tendency of interests that is established at present of the financial market, for it it is important that if he prefers to realize all these I calculate for you instead of consulting with some financial adviser, be informed very well about it and also of the period with which one handles the financial institution to which he thinks to resort. |
