BFI Blog


Loans are a form of financing. Money is given from a bank or financial institution to another party. That money is then paid back in increments over time, usually with interest. Terms of a loan are agreed to by both parties prior to money being given. Some loans have lower interest rates than others. Rates are determined by the lender and are often based on the loan type, amount of time required to repay the loan and credit worthiness.Depending on the product used and the lender involved, loans may or may not have a pre-payment penalty. Pre-payment of a loan means that it is paid back in its entirety before the contracted term ends. For example, many auto loans have a pre-payment penalty if you pay off your loan with more than six months left on the contract. If you are within that final six months, though, you may pay the loan back without a penalty. This penalty is to help absorb the cost of lost interest when a loan is paid back early.

    Breaking Into Residential Real Estate Investment

    If you’re thinking about getting into real estate investment but don’t know where to begin, or aren’t sure how risky it could be, there are some basic tenets to follow that many seasoned investors..

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    Getting an Equipment Loan

    If you’re a builder or investor, you may already be familiar with construction loans, but another type of loan you may need is a heavy equipment loan. Depending on the type of construction project..

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    Construction Loan Application Preparation

    As a builder, developer or investor, at some point you have to apply for your first commercial construction loan. Even if you’ve been in the business as part of another team, you may not know..

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    Non-Traditional Construction Loan Types

    There are several types of typical construction loans, but there are also a few lesser known loan-types that may be of interest to builders, brokers and investors: Model loans, land loans and..

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    Construction Loans - Know the Basics

    As any builder or investor knows, construction loans differ from traditional mortgages in a few ways, but knowing all of the different aspects and terms particular to construction loans is important..

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    Do I Qualify for a Construction Loan?

    Whether you are a novice builder or investor just starting out, or someone with years of construction experience under your belt, a construction loan is a vital aspect to the success of your project...

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    Construction Loan Terminology - What it all Means

    If you’re thinking of applying for a construction loan, there is a lot to consider, and while doing your research, you may run into some terms you’re unfamiliar with. Below is an explanation of some..

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