Finance Questions

Archive for January, 2006

Question: Is there bank that finance a cargo van for a commercial use?

I was looking for a reputed bank that i can rely on. I know Bank of America, Citi, Capitalone does not offer auto loans for cargo vans.

Answer: Go to the bank with which you have a history i.e. checking, savings, mortgage etc. That would be your best move.

Car Loans Bronx from Yonkers Auto Mall the Bronx Used Cars leader

Question: When buying a new home, do I have to use the builder's bank to finance my mortgage?

I bought a new home from the builder. The builder deals with a certain bank and they want me to get my mortgage from the same bank they are dealing with. Do they have the rights to do this? Or, am I free to choose whichever bank I want?

Answer: YES AND NO'
SOMETIMES BUILDERS MAKE A PACKAGE DEAL WITH A LENDER ,WHO IN TURN CAN OFFER TERMS AND RATES THAT OTHER LENDER WOULD
NOT.ANOTHER ISSUE IS ,IF THE PROJECT IS A NEW HOUSING TRACK,MOST CONVENTIONAL LENDERS WANT TO SEE AT LEAST HALF THE PROJECT HAS BEEN SOLD.WHERE AS BUILDER 'S PREFERD LENDER MAY NOT HAVE THAT CONDITION.BUILDER'S LENDER CAN ALSO OFFER REDUCED COST,BECAUSE OF MASS BUSINESS.

HOME MORTGAGE FINANCING PROGRAMS and LOANS - (916) 600-0880