Q&A: Applying for a personal loan will it affect us in buying a home?
Question by YSM: Applying for a personal loan will it affect us in buying a home?
We payed down our credit cards and we need a personal loan to pay off a college degree and do some fixer upper in the house we have now. We want to buy another home will this affect us in getting a loan with the bank for our new home? Our credit scores right now are excellent. Need professional advice.
Best answer:
Answer by IG64
Yes it will hurt your score.
Your score will be impacted by the mere fact that you apply for the loan.
If after borrowing the money and paying off the student debt you still have total debt greater than it is not that will have a negative impact on your score.
If the student loans are a problem consolidate them and stretch out the payment terms. Don’t waste money fixing up the house you are getting ready to move out of that would be senseless. In most cases people spend more fixing up a house they are planning on selling than they get back for the increase in the sale price of the house compared to just selling as is. Remember, someone buying a used house will always have things they want to change and the odds of you changing something just like the buyer would have are about zero.
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Posted by getloans -
June 3, 2012 at 11:14 am
Categories: Loan Questions Tags: affect, Applying, buying, home, loan, Personal
Applying For A Personal Loan
A lot of consumers are looking to get a personal loan to pay off some out of the blue bills or when you are eying some big ticket item. But not all people have the know-how on applying for personal loans. This article can somehow supply you with some suggestion in applying for a personal loan. It’s actually way simpler than you think!
You can avail of it through the use of a phone. The application for a personal loan over the phone is actually very simple and it just takes approximately 5 to 10 minutes, but it depends on the lending company. All of the major banks and the majority of financial institutions possess a special number for you to call when you want to apply for a personal loan. Just look it up on your local phonebook or online.
Probably the most convenient way to acquire a personal loan is through Internet. It will generally take just a few minutes to fill out an online application. Then, you will be receiving a response in no time. You can do so by visiting the websites of the major banks or any financial institution.
You will also find quite a few companies that focus on personal loans, usually bad credit loans, and they have websites in which you can start applying. Just get your search engine running.
Getting a loan physically by going to your local bank or any preferred financial institution is the old-fashioned yet trusted way. However, before doing so, you have to book an appointment ahead of time. The application process can actually take some time to finish but you will find many benefits in applying for a loan in person. Among those is that you are able to point out specific needs to your loan specialist. Then, they can help you work out if whether you can afford the total repayment costs. You can also haggle for a much better interest rate and lower fees. It’s all up to you how you want to obtain your personal loan, so good luck!
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Posted by Cathy Miller -
February 15, 2012 at 4:47 pm
Categories: Loan Articles Tags: Apply, Applying, loans, Personal, Personal Loan
How can I obtain venture capital without applying for a bank loan?
Question by sham8450: How can I obtain venture capital without applying for a bank loan?
I am starting up an online business and I need startup money. I dont have good credit so bank loans are out. I dont know how to apply for a grant. I dont have any rich friends or relatives. Is there a way?
Best answer:
Answer by Jeff
Develop and document a business plan. If it has good ideas, you can shop that around to venture capital organizations, who will want a piece (probably control.)
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Posted by getloans -
January 2, 2012 at 4:51 pm
Categories: Loan Questions Tags: Applying, bank, Capital, loan, obtain, venture, without
Things to Remember Before Applying For a Loan
It was not until recently that people started to enjoy the convenience of borrowing cash sitting in the comfort of their homes. This validates the fact that the world today is more financially inclined than in the last couple of decades. An online consumer research and feedback survey states that people don’t like to carry on with financial blockades and often tend to apply for online loans immediately.
Technology advancement is yet another major factor that has leveraged easy access to funds. However before applying for a loan it is important to take a vital stance to decide whether you should borrow, since it’s a fact that at some point of time the loan will have to be repaid, either in months or years. While some are well aware of their limits and know what they are up to, a majority of people get caught in debts without proper planning. It is not a bad idea to borrow short term installment loans for temporary shortages but getting the perfect deal which matches your needs makes it all the more profitable and feasible for you.
It is a widely accepted fact that everybody cannot stand to claim that he/she is self sufficient to meet the over shooting monthly expenses. But they can make sure the borrowed amount adds value to the burden of repaying on time. The most preferred are the short term monthly installment loans that help over come a sudden unexpected expenses. However before applying for a loan it is important to question yourself based on the following parameters.
Ask yourself if there is a desperate need to borrow? – If the answer to this is a genuine yes, then ask yourself whether you need it in cash, when would you require it on hand and when it would be possible for you to repay. There are plenty of loans with different usages, figuring out the one you need can be critical. These questions would actually help you zero-in on the loan product that best fits your need.
Honestly ask yourself if the need to borrow is worth the pain. If you feel its worth borrowing then go ahead, apply and get it processed but always try to maintain it to a minimum.
Do you need it in cash? Many a times we think of paper money and forget other options like writing out a post dated check, bank overdraft or using a credit card to make payments. If all the other options go blank on you then try getting a loan. This helps avoid paying interest unnecessarily.
For how long should you have to borrow it for? Most of us miss out on this; we fix-up a long term loan for a short term need; think twice before choosing the loan product. A long term product wrongly chosen for a temporary shortage remains a burden until it’s completely paid off.
Amongst the different kinds of loan products that are available in the market short term loans are the most popular and the most preferred. There is no better way to take control of a temporary shortage of funds than by applying for a short term installment loan. Decide on the correct action plan so that you will not regret later.
Brian Matthews works with Lending Stream, an short term loans provider in the UK. We are a responsible online lender for short term installment loans in UK and believe in transparent and quick loan transactions. Please visit us for further details.
Written by seeyan
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Posted by getloans -
October 17, 2011 at 9:31 am
Categories: Loan Articles Tags: Applying, before, loan, Remember, things