Article by Ask Bill
With its headquarters in Baltimore, CitiFinancial is one of the better mortgage financing companies in existence today, especially when you consider that there are approximately 1800 branches in the United States and Canada. First established back in 1912, CitiFinancial has grown in leaps and bounds, and today offers some of the most attractive mortgage-related loans. The range of loans that is offered by the institution includes mortgage purchasing loans, mortgage refinancing loans as well as personal loans for home improvement purposes. CitiFinancial offers first and second mortgage loans at generally attractive terms. And if you have made 24 continuous on-time payments on a CitiFinancial mortgage loan, the institution would offer you a refinancing package that carries an even lower interest rate through the Rate Reduction Plan. This means that you have the opportunity to get rewarded for consecutive on-time payments, something that is generally not offered by other financial institutions. CitiFinancial mortgage refinancing packages also offer you the ability to extend your loan duration, allowing your monthly repayment amount to be lowered considerably. For those that are struggling to service their home loans, a refinancing package from CitiFinancial should prove to be a blessing.
The institution also offers home equity loans and home equity line of credit (HELOC) loans for those that require extra cash to help their financial situation. For those that are not aware of home equity or HELOC loans, these are basically loans that are secured against the equity that you own in your home. Home equity loans are loans that are paid in a lump sum amount to you, while those opting for the HELOC option would have a line of credit available for their benefit. You could borrow from this line of credit when your require cash for a purpose such as home renovation. For the record, home equity loans usually come with fixed interest rates, while HELOC loans usually come attached with adjustable interes! t rates.
If you are worried about your equity in your home and do not wish to take a loan with your home equity backing it, you could alternatively opt for a CitiFinancial personal loan to help you with home improvement projects and other related purposes. These personal loans usually come with fixed interest rates and monthly payments, thus you need not worry about fluctuating interest rates or increasing monthly payments with these loans. You could usually borrow up to ,500 through this personal loan option from CitiFinancial, though any application that exceeds ,000 generally requires a collateral to back it.
Major mortgage companies in existence today do not rely completely on physical retail outlets and branches, instead they also possess reliable websites to back their businesses online. One of the main advantages of CitiFinancial is its highly secure and useful website. CitiFinancial's website provides plenty of useful information on mortgage financing and refinancing matters, and the information provided proves exceptionally crucial especially for first-time home buyers. You could exercise the option of applying for mortgage and personal loans online, something that would make your loan application process a lot simpler and hassle-free. You could also update your personal information, make loan payments and check your loan statements online when the needs arise.
The existence of numerous local branches in major cities such as New York, New Jersey, Florida and Texas makes it easy for CitiFinancial to attract customers that are seeking mortgage loan solutions. The flexible mortgage loan packages that are offered also come attached with competitive rates, thus it is easy to understand why many homeowners or potential mortgage buyers choose CitiFinancial as the lender of choice when looking for mortgage purchasing and refinancing loans.
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