Our Top Loan Amortization Tips
While loan amortizations may seem easy to understand, they can also be incredibly nuanced. At Evoque Lending, we’re here to break them down for you! Here are Four loan amortization tips to keep in mind when it comes to taking control of your mortgage: 1. Choose a 15-year mortgage if you can afford it: a 30-year fixed rate is typically more popular amongst homeowners, but not everyone realizes that the amount of interest you pay is significantly higher over the course of the loan. 2. Utilize accelerated amortization: by accelerating your amortization, you...Read More
Lending and California’s Usury Laws
California usury laws add a layer of complexity to doing business in the state. Usury laws limit the amount of interest that can be charged by various parties, and usury is the charging of interest in excess of the amounts permitted by those laws. The California Constitution characterizes “interest” as fees, bonuses, commissions, discount, or other compensations received from a borrower. Before brushing aside usury laws, it is important to know that any lender that originates a usurious loan in California will be subject to tough civil penalties. Unfortunately,...Read More
