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July 20
Understanding the Use of Collateral

By: Cynthia Cole, senior financial services officer at GreenStone's Ionia branch

Purchasing a home or vacant land is one of the biggest decisions you make. Understanding some of the basics of financing can help ease concerns you may have and properly prepare you for the financing process.

In our latest video blog, I discuss:

  • The use of collateral in financing
  • The difference between a mortgage and a promissory note
  • General cash/collateral to financing ratio
  • How vacant land may be purchased without a down payment

Understanding the use of collateral in financing can help you succeed in making one of your biggest decisions. Watch this video to learn more.

[youtube]https://www.youtube.com/watch?v=ag5nvu4bD6Y&feature=youtu.be[/youtube]

 

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