Are you looking to make a high-ticket purchase or take a much needed vacation? You can use a personal loan in many ways. Unlike certain credit cards that are for specific stores, you can use a personal loan on anything you need or want. Instead of incurring debt on high-interest credit cards or applying for a second mortgage, you can get the cash you necessitate via an unsecured loan.
Unsecured Personal Loans vs. Home Equity Loans
- Instant access to your funds; typically within hours from the time you submit your application.
- Lower required borrowing amounts. You can borrow as little as $100!
- No closing costs.
An unsecured loan is going to be your best option if you are not a homeowner, are looking to borrow a small amount of money and/or need cash fast. It can take weeks for you to get financing via a second mortgage.