What Does A Demand Feature Mean In A Mortgage Loan?

Published by:

These large loans take decades to pay off and cost thousands of dollars in interest, but they make it possible to purchase a house you’d otherwise be unable to afford. Unfortunately, not everyone who …

What Does a Demand Feature Mean in a Mortgage Loan? Did you pay attention when you signed your closing documents? Do you know the fine print that was provided to you? If so, do you know if your loan has a demand feature? compare Offers from Several Mortgage Lenders.

Answer: The mortgage loan demand feature gives the lender the right to ask for full loan repayment for any reason. If your agreement includes such a feature, you would like to explore all the sections pertaining to it.

Non Qualified Mortgage Definition The CFPB will disclose the qualified mortgage … home Affordable programs), non-profit creditors, and small creditors, community banks and credit

Jun 19, 2018  · Make sure to pay careful attention to this area of the document to make sure you know if your loan has a demand feature. Click to See the Latest Mortgage Rates. If your loan has a demand clause, it’s important to find out the circumstances in which a lender can call the loan.

It does so by … the "term" of the loan.) In this way, every loan payment is the exact same amount of money. Consider a 30-year mortgage loan of $165,000 over a 30-year time period, with an interest …

Non Warrantable Condo Definition A non-warrantable condo is a condominium property in which the loan is not eligible to be sold to Freddie Mac
Non-qualified Mortgage Non-qualified mortgage Deephaven Mortgage provides private-capital liquidity for non-Qualified Mortgage (non-QM) loans. The company partners with correspondent lenders who share

Rates for home loans were little changed … If longer-lived mortgage rates are rising while shorter ones are falling, it shows the yield curve normalizing, at least for now. What does it mean for the …

Such a demand is hardly as radical as it sounds (though the tactic of a mortgage strike may well be, harking as it self-consciously does straight back … was much cheaper? You mean home buyers who …

What is MORTGAGE LOAN? What does MORTGAGE LOAN mean? MORTGAGE LOAN meaning & explanation Furthermore, the federal reserve senior Loan Survey, published quarterly, indicated a drop in demand for loans across the board. Wells Fargo (WFC) is showing contractionary numbers across nearly every …

Answer: The Closing Disclosure has a statement that reads “Your loan has a demand feature,” which is checked “yes” or “no.” A demand feature permits the lender to require early repayment of the loan. If you are applying for a HELOC, a manufactured housing loan that is not secured by real estate, or a loan through certain types of homebuyer assistance programs, you will not receive a HUD-1 or a Closing …

The answers are slightly complex, but will make sense after we explore what does … to push mortgage rates higher. That’s because the higher demand means more work for lenders who only have so much …

Under the "DEMAND FEATURE" section, there should be two options: [ ] This loan does not have a Demand Feature [ ] This loan has a Demand Feature. If the second box is checked, then your mortgage has a demand feature. Refer to the loan contract for the terms of the truth in lending disclosure demand feature.

The mortgage loan demand feature gives the lender the right to ask for full loan repayment for any reason. If your agreement includes such a feature, you would like to … If you’re locked into an interest-only mortgage, that doesn’t mean you can’t pay extra toward the … the less you’ll have to pay for the entire mortgage loan .

Valuation Of Leasehold Interest

Published by:

What Is The Abbreviation For Trust Purchase And Renovation Loan With mortgage rates hovering near one-year lows, some homeowners might be enticed to refinance their current

Advanced Valuation 04: Intro Ground Rent Sometimes used for the valuation of a leasehold interest which is viewed as a wasting asset. Dual rate tables adjust a leasehold valuation to be on the same basis as a freehold by using a sinking fund.

Use the Income Approach to Value the Leasehold Interest. Apply the present value factor to the cost savings each year and then take the sum of savings generated in all years. Calculate the present value factor using this formula: 1 / (1 + r)^n, where “r” equals the discount rate and “n” equals the time period.

NEW YORK–(BUSINESS WIRE)–May 10, 2018– SL Green Realty Corp. (NYSE: SLG), New York city’s largest commercial landlord, today announced it was the successful bidder for the leasehold interest at 2 . …

Under the accounting rules, the lessee will calculate the present value (PV) of the estimated lease payments using the implicit rate in the lease, if known to the lessee, or the company’s incremental …

Jan 27, 2010  · Net Leasehold Interest (NLI) and Tenants’ lease interest (tli) Without the application of the hybrid present value calculation, the insured value would be $249,990. But because the insured has yet to suffer the lease expense, the total difference in TLI is not used in the limit’s calculation.

leasehold interest. leasehold interest is the right to the use and occupancy of real property by the existence of a lease agreement. The lessee (tenant or renter) enjoys these rights for a stipulated period of time, subject to the payment of rent and other conditions.

May 13, 2016  · Valuing a leasehold interest with short term ground lease. If they deal were fee simple, take that market cap rate and bump it up by enough of a margin to compensate for the 15 years groundlease expiration. The other simpler option were to simply look at the 15 year hold period and determine, after paying back the purchase price after X many years,…

Global Net Lease (GNL) is one of the highest yielding REITs … worst track records of the entire REIT industry with a history of conflicted interests leading to significant value destruction. The …

Irs Print Tax Return Whether filing a tax return, requesting an extension or making a payment … The form must be mailed and postmarked

Leased Fee Interest. A leased fee valuation is analogous to a landlord’s or owner’s investment analysis. The value of the leased fee interest is represented by the present value of the contract rental income from the lease(s) during the term(s) of the lease(s), plus the value …

Mortgage Loan Agreement Format 19 mortgage agreement form free download. download free printable mortgage agreement Form samples in PDF, Word and Excel formats Both

Irs Print Tax Return

Published by:

Whether filing a tax return, requesting an extension or making a payment … The form must be mailed and postmarked by the filing deadline. Download and print it from IRS.gov/forms. The safest and …

Printing Your IRS Tax Return Transcript From IRS.GOV This is an option for students that are not able to use the IRS Data Retrieval Tool, available by logging into your FAFSA. 1. To begin go to irs.gov: 2. You will have the option to access your transcript online or via mail.

The IRS expects four out of five tax returns to be prepared electronically … If you receive an email asking for a copy of your W-2 form, you should immediately contact your employer.

What Is The Abbreviation For Trust Purchase And Renovation Loan With mortgage rates hovering near one-year lows, some homeowners might be enticed to refinance their current
Mortgage Loan Agreement Format 19 mortgage agreement form free download. download free printable Mortgage Agreement Form samples in PDF, Word and Excel formats Both

States use special forms as well and most require a copy of your federal amended return and … It’s important to note that the statute of limitations on tax returns works both ways. The IRS also has …

Mar 18, 2019  · Copy of Your Tax Return. On jointly filed tax returns, either spouse may request a copy and only the signature from the requesting spouse is required on the Form 4506.pdf, Request for Copy of Tax Return. You should complete Form 4506 and mail it to the address listed in the instructions, along with a $50 fee for each tax return requested.

IRS Form 4506 Request for Copy of tax return (irs fee) note: If you need to file a prior year return, see Previous Year’s TaxAct Products for a list of available Online and Desktop programs. If you used TaxAct in a prior year and need to access your account, see Accessing Prior Year Returns .

Mar 06, 2019  · You can get a transcript to view your tax account transactions, line-by-line tax return information, and wage, income, and IRA contributions for a specific tax year. You can also obtain a non-filing letter this way. Certain transcript types are limited by delivery method

Median Fico Score 2016 The median FICO score for originations plummeted in April, howeve,r lending standards did not loosen for homebuyers and remains historically

Tax Return Transcript Online Form 4506 Request for Copy of Tax Return Form 4506-A Request for Public Inspection or Copy of Exempt or Political Organization IRS Form Instructions for Form 4506-A, Request for Public Inspection or Copy of Exempt or Political Organization IRS Form

Trump argues that he cannot release his tax returns because they are being audited, but the IRS has said this is no … and is the same edition as the printed copy available at http://bit.ly …

Purchase And Renovation Loan With mortgage rates hovering near one-year lows, some homeowners might be enticed to refinance their current mortgage to save on

but I think this publication would decline to put the other names in print) has managed to stop IRS Commissioner Charles Rettig from complying with a request by House Ways and Means Committee Chair …

Reverse Mortgage Loan For Senior Citizens

Published by:

Reverse Mortgage Loan - Explained in Hindi Nov 23, 2013  · How senior citizens can benefit from reverse mortgage. The bank then disburses a loan amount to the borrower in the form of periodic payments, after considering a margin for interest costs and price fluctuations. The periodic payments also known as reverse EMI are received by the borrower over fixed loan tenure.

A reverse mortgage for seniors allows people 62 or older to borrow money against the equity in their home. The money can be used for anything: home improvements, vacation, debt consolidation, medical bills, whatever you like.

Loan Estimator For House Buying your dream house … Renovation Mortgage, the FHA’s 203k loan and the USDA’s Single Family Housing Guaranteed Loan Program.

On Wednesday, KRON4 spoke with housing industry experts with a look at mortgages and the options available out there for the senior population … says this type of loan is only available to the older …

In the case of a reverse mortgage for senior citizens, the borrower doesn’t have to make monthly payments on the loan, on the condition they stay in the house and continue with things like insurance and taxes. Unlike a traditional forward mortgage loan, the borrower receives payments and interest adds up while the home equity decreases.

We are a national mortgage banker who helps seniors … recourse: reverse mortgages are "non recourse" which means neither the borrower nor their heirs will ever owe more than the home’s market value. …

has announced its intentions to change the requirements for its reverse mortgage program — specifically, to raise premiums and tighten up the limits on loans. But such a change could have tremendous …

The idea is simple: Allow aging citizens to access their … for example, the loan defaults and they may face foreclosure. The resulting news headline – something like, ‘Reverse mortgage leads senior …

Buying A Home That Has A Reverse Mortgage If you want to continue living in your home with minimal monthly payments, perhaps due to your retirement, a reverse

Aug 06, 2018  · A reverse mortgage is a kind of reverse loan that is given to senior citizens who own homes. Check out reverse mortgage counseling if you are a retiree with limited income in order to know the truth about reverse mortgages and find out whether it is suitable for you.

mumbai: reverse mortgage, a loan product to help senior citizens supplement their income after retirement, came into …

Usda Mortgage Eligibility Map

Published by:

Borrowing Against 401k To Buy A House I am having trouble getting a definite answer on this. I have an outstanding 401k loan which I took out

usda eligibility map helps determine if a property is eligible for a USDA home loan. USDA Home loans from Primary Residential Mortgage is perfect for purchasing a new home or refinancing your existing home. Find out more! call today to speak with a USDA Home Loan Specialist (855) 474-7169.

Mortgage On Mobile Home With Land Florida Mortgage Corporation is pleased to offer numerous manufactured home mortgage programs. Historically, manufactured homes have been financed as personal

The US Department of Agriculture (USDA) plans to make changes to the USDA eligibility maps effective October 1 … The home must be occupied as the borrowers primary residence. USDA home loans have a …

Letter Of Explanation For Derogatory Items On Credit Report Interest Rates On Second Mortgage <img src='https://i.ytimg.com/vi/vy_pvstdBhg/hqdefault.jpg?sqp=-oaymwEjCPYBEIoBSFryq4qpAxUIARUAAAAAGAElAADIQj0AgKJDeAE=&rs=AOn4CLCl5twy4YPRELd9IuwKec5Tro-MlQ' alt='Mortgage Interest rates | Housing | Finance & Capital Markets | Khan Academy

USDA Eligibility Map. As a general rule of thumb the USDA will lend in areas that are considered rural or semi-rural. Use the interactive map below to find out if your area is considered eligible.

Interest Rates On Second Mortgage <img src='https://i.ytimg.com/vi/vy_pvstdBhg/hqdefault.jpg?sqp=-oaymwEjCPYBEIoBSFryq4qpAxUIARUAAAAAGAElAADIQj0AgKJDeAE=&rs=AOn4CLCl5twy4YPRELd9IuwKec5Tro-MlQ' alt='Mortgage Interest rates | Housing | Finance & Capital Markets | Khan Academy ‘ class=’alignleft’>Nov 27, 2018  · Stand-Alone

USDA Loan Eligibility Map Lookup Navy Federal loan Navy Federal Credit Union, one of the nation’s largest in assets and membership, offers 100 percent financing to qualified members who buy primary homes. Navy Federal eligibility … …

In order to take advantage of this loan option, homebuyers need to be looking to buy a single-unit primary residence in a qualifying area. These can be rural areas or even the outskirts of suburbia. …

Envoy Mortgage CLD has announced that they will continue to purchase USDA loans with Conditional Commitments "subject to the availability of commitment authority" during the interim period. M&T Bank …

… you can use to find out whether your area qualifies for a USDA mortgage. The database allows you to search for your property by introducing a specific address or by clicking on a map of the United …

Homebuyers often ask how they can find houses eligible for USDA mortgage financing? The new 2019 USDA Eligibility Map here will help buyers identify the address and locations that are currently eligible. Keep in mind a few things when searching for eligible properties.

To determine if a property is located in an eligible rural area, click on one of the USDA Loan program links above and then select the Property Eligibility Program link. When you select a Rural Development program, you will be directed to the appropriate property eligibility screen for the Rural Development loan program you selected.

the loan limit is set at $570,400. Live in a USDA-approved location Typically, if a property is attached to a city ZIP code, it won’t qualify, but suburban areas outside of a major metro could. The …

2018 USDA Eligibility Map. Use the map below to find USDA home loan eligibility for your home. The map is based on the U.S. Department of Agriculture’s official Rural Development requirements. The USDA does not guarantee the completeness of its rural loan information so verify your eligibility with a lender once you’re ready.

United States Home Sales Data

Published by:

This page provides national and regional data on the number of new single-family houses sold and for sale. It also provides national data on median and average prices, the number of houses sold and for sale by stage of construction, and other statistics. The data are from the Survey of Construction …

10 Year Treasury Historical Chart Aug 23, 2016  · Get U.S. 10 Year Treasury (US10Y:U.S.) real-time stock quotes, news and financial information from CNBC. How To

See Metropolitan Median Home Prices and Affordability data. County Median Home Prices and Monthly Mortgage Payment. To calculate median home values for 3,119 counties and county-equivalents in the United States, NAR applied the House Price Index growth from FHFA to the latest housing data from the American Community survey (acs). home values …

U.S. Housing Bubble Watch 🏠 California Home Prices Fall in Most Coastal Counties I’d imagine that iphone screen sizes are, on average, set to get larger. Keep in mind that this data is only for the United States — the sales mix could potentially be different in other regions. …

DUBLIN–(BUSINESS WIRE)–Apr 9, 2019–The "Cough Syrup Products Market in the united … data refers exclusively to sales through these outlets. Direct and mail order sales are included, but sales to …

Interest Rates Year By Year That’s certainly an eye-catching rate, and it prompted one of those … a firm called astute capital – this also

The "Topical Analgesics Market in the United … order sales are included, but sales to institutions, such as hospitals and nursing homes, and exports are excluded. All market sales data are …

Semi-monthly Meaning Jul 29, 2008  · Biweekly means once every two weeks or twice a week. Bimonthly means once every two months or

Looking forward, we estimate existing home sales in the United States to stand at 4800.00 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 4700.00 Thousand in 2020, according to our econometric models.

Mar 29, 2019  · New Home Sales in the United States is expected to be 620.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate New Home Sales in the United States …

Hold Mail Form Usps To request a mail hold, call 1-800-ASK-USPS or complete a “hold mail” form at the post office. You can make

Fha 203k Down Payment

Published by:

In addition to low down payments, the eligibility terms of an FHA 203(k) loan are more flexible. In general to be eligible for an FHA 203(k) loan, you must have a credit score of at least 620. Unlike …

The biggest difference in qualifying for an FHA 203k mortgage rather than a traditional FHA mortgage is that you must qualify based on the costs of your renovation, in addition to the purchase price. For example, if you want to refinance or purchase a home valued at $150,000 and finance $25,000 in repairs, you need to qualify for a $175,000 mortgage and have the home equity or down payment of 3.5%.

May 18, 2011  · FHA 203K Down Payment. For an fha 203k purchase, the down payment is calculated from the total of the following: The contract sale price you and the seller agreed to (+) the cost of improvements (+) the Costs & Fees related to the 203K Loan. Once you have this total you can then calculate it with the 3.5% to get your down payment.

Fha 203k Refinance Guidelines home improvement loan Florida 203k streamline loan rates fha 203k Loans are a type of rehabilitation mortgage that gives you

Pros and Cons of an FHA 203(k) Loan As with other FHA loans, an individual can make a down payment of only 3.5%. As the loan is insured by the FHA, lenders may offer lower interest rates for a 203(k) …

FHA $0 Down Loan! How Does it Work? In general, however, the FHA 203k loan has more flexible guidelines for the borrower – particularly those with lower FICO credit scores and higher debt-to-income ratios – making it a more attractive …

Apr 15, 2019  · FHA 203 (k) Loan program requirements 2018. Down payment requirements for most loan programs were rather onerous with some banks asking for a down payment of 50% of the sales price. Or more. Such loans were also short-term in nature coming due in one to five years requiring the borrowers to refinance or otherwise retire the outstanding balance.

Fha Home Improvement Loan fha home improvement loans might be the solution you are looking for when you need to make repairs or improvements

It bases the appraisal on the plans for repairs. Your down payment is calculated off the total costs of both purchase and repair. The FHA 203k rehab program only requires a 3.5 percent down payment. …

What is an FHA mortgage? When you’re buying a home, finding the monies for a down payment can be challenging … the agency makes available the FHA 203k loan. The 203k loan is named after …

Getting A Rehab Loan The Federal housing administration (fha) 203k loan – also called a Rehab loan or an FHA Construction loan … in

Dec 09, 2013  · How FHA 203(k) loans work There are two types of 203(k) loans: a streamlined version and a regular version. The streamlined 203(k) program …

As with other FHA loan products, you’ll need 3.5% down and you must have a minimum of a 500 credit score. According to the U.S. Department of Housing and Urban Development, the following types of …

Buying A Home That Has A Reverse Mortgage

Published by:

If you want to continue living in your home with minimal monthly payments, perhaps due to your retirement, a reverse mortgage may be right for you. Be aware that they tend to have significant up-front …

How to Buy a House With a Reverse Mortgage. The reverse mortgage specialist will have a specialized calculator to make this determination. Subtract the amount of money the reverse mortgage can provide from the purchase price to determine how much money must be brought in as a down payment. For example, if the purchase price is $300,000 and…

What Is A Reverse Mortgage How Does It Work How Much Money Can I Qualify For A Home Loan The most important consideration is, “How much house can I

In an online video, he brushes aside “common misconceptions,” including fears about losing your home. Mayer … third-party counseling before buying one, he said. The FHA has backed more than 1 …

A reverse mortgage historically has enabled senior homeowners to convert part of the equity in their homes into tax-free funds without having to sell the home, give up title or take on a new monthly …

Oct 16, 2017  · Borrower requirements under HECM for Purchase to get a reverse mortgage are: The minimum age is 62 years old. Borrowers must own the property outright or have a considerable amount of equity in it. The home must be the borrower’s primary residence.

How Much Money Can I Qualify For A Home Loan The most important consideration is, “How much house can I afford?” That’s because, even with all the angst involved in
Fha home equity conversion mortgage The majority of reverse mortgages are Federal housing administration (fha) loans under the home equity conversion mortgage (HECM) program. Under

Selling a Home That Has a Reverse Mortgage Jul 24, 2017  · Broom cleaning means you don’t have to hire a crew to go in and completely scour the home. You just need to have all personal effects removed and the home has to be empty. How can I buy a home that had a reverse mortgage and the owned died. Hello Herbert, The property first goes to the heirs of the borrower(s).

“Reverse mortgages don’t have a good reputation, and can’t help a lot of … “We do give people the option to buy their home back if they so choose,” she said. “Maybe it’s that someone’s plans are to …

Loan Estimator For House Buying your dream house … Renovation Mortgage, the FHA’s 203k loan and the USDA’s Single Family Housing Guaranteed Loan Program.

viable financial tools,” and all customers must undergo third-party counseling before buying one, he said. The FHA has backed more than 1 million such reverse mortgages. Homeowners pay into an …

A person signing up for a reverse mortgage is also able to live in the home mortgage free until they die. Now that her grandmother has died Ezernack is also able to buy the home, “You are allowed to …

Letter Of Explanation For Derogatory Items On Credit Report

Published by:

Interest Rates On Second Mortgage <img src='https://i.ytimg.com/vi/vy_pvstdBhg/hqdefault.jpg?sqp=-oaymwEjCPYBEIoBSFryq4qpAxUIARUAAAAAGAElAADIQj0AgKJDeAE=&rs=AOn4CLCl5twy4YPRELd9IuwKec5Tro-MlQ' alt='Mortgage Interest rates | Housing | Finance & Capital Markets | Khan Academy ‘ class=’alignleft’>Nov 27, 2018  · Stand-Alone

With that in mind, here are 3 power tips for writing an effective FHA credit explanation letter. Tip Number 1 … Make sure they address and account for every single negative item on the credit report …

Closing Process For Buyer mortgage loan closing – Process Overview The Mortgage Loan Closing When Buying a Home. Once your application for a mortgage

Many consumers have complained about Lexington Law … derogatory tradelines or to cancel consumers’ subscriptions. Another complaint is that fees are not always clearly disclosed upfront. Remember, …

Mar 20, 2017  · However, a well-written letter of explanation attached to a credit application can make a big difference. Many lenders will go the extra mile to accommodate consumers that can explain past problems and offer assurances that the problems have been remedied. But first, it’ll be a good idea to check and see whether you have bad credit at all.

Letter of Explanation for ​Derogatory Credit. However, a letter of explanation for derogatory credit may help convince the creditor, employer or insurance company to favor the consumer’s request. Many lenders are willing to help a consumer in financial trouble if he or she can give a clear and reasonable explanation for the missed payments,…

3 Tips for Credit Explanation Letters WHAT I THINK: Disputing erroneous items … for mortgage credit, consumer dispute comments remaining on your credit report frequently cause delays, denials or trigger more expensive mortgage rates. …

Borrowing Against 401k To Buy A House I am having trouble getting a definite answer on this. I have an outstanding 401k loan which I took out

A letter of explanation for derogatory items on a credit report should explain the circumstances that caused any late payments and why future late payments will not occur, according to Guston cho associates. writers should make the letter concise and only address the items the mortgage underwriter would like clarified. Continue Reading.

Or if you wanted to see if you could remove derogatory items? A Red Flag When … have any disputed accounts on your credit report, be prepared by getting your paperwork together. The lender will need …

Mortgage On Mobile Home With Land florida mortgage corporation is pleased to offer numerous manufactured home mortgage programs. Historically, manufactured homes have been financed as personal

How Much Equity For A Home Equity Loan

Published by:

Heloc Loans Pros Cons Seniors may want to tap their home equity through a reverse mortgage to create a steady income stream through a

Some specific advantages include: flexibility. With a home equity loan, terms can be much more flexible than with a personal loan. It’s typical for personal loans to be limited to five or six years, …

there are plenty of good reasons to borrow against the equity in your home — commonly called a second mortgage. interest rates are typically much lower than other borrowing options, for example, which …

How To Get A Heloc Loan Home equity lines of credit and credit cards allow you … To get the most favorable deal, you want to

Mar 12, 2019  · A home equity loan is a type of second mortgage.Your first mortgage is the one you used to purchase the property, but you can use additional loans to borrow against the home if you’ve built up enough equity.Using your home to guarantee a loan comes with some risks, however.

What’s An Equity Loan Mar 15, 2019  · Home Equity is the difference between how much the home is worth and any debts against the

Apr 11, 2019  · Today, most lenders limit equity borrowing to 80 percent of your cumulative loan-to-value. If your home is valued at $300,000 and you owe $200,000, then you have $100,000 of equity. At 80 percent cumulative loan-to-value, the total amount of outstanding borrowing would be limited to $240,000 ($300,000 x 0.80 = $240,000).

How to Calculate Home Equity So there are opportunities for many homeowners to get a home equity loan, home equity line of credit or a cash-out refinance. …

Check out the debt consolidation calculator and current interest rates on Nationaldebtrelief.com to find out how much you can potentially save by taking a home equity loan for paying off your existing …

You’ll generally be eligible for a home equity loan or HELOC if: You have at least 15% to 20% equity in your home, as determined by an appraisal. Your debt-to-income ratio is between 43% and 50%, depending on the lender. Your credit score is at least 620. …

Mar 12, 2019  · Home Equity Example. Assume you purchased a house for $200,000, made a 20 percent down payment, and got a loan to cover the remaining $160,000. In this example, your home equity interest is 20 percent of the home’s value: The home is worth $200,000, and you contributed $40,000 – or 20 percent of the purchase price.

A home equity loan gives you money all at once. If you know how much money you’ll need and when you’ll need it — for a remodeling project with a fixed budget, for example — it may be the right choice. …