You’ve just come home from another long day at work. You’re going through the motions as usual – preparing dinner, taking the dog for a walk, checking your email, preparing yourself to tackle the next work day. When was the last time you went on a vacation or treated yourself to a big-ticket item? Well, you can’t remember. But all you know is that you don’t quite have all the financial ammunition you need to do it. Whether you seek to take that much-needed getaway, need to make a tuition payment, have a wedding to plan, need to consolidate some credit card debt, have an unexpected or emergency expense, or need to make that big purchase you’ve been thinking about recently, taking out a personal loan is a great way to make those dreams a reality. A personal loan can be used in many ways – essentially, for anything you need or want. Unlike store credit cards which trap you with that ever-growing, incurring debt via high interest, a personal loan allows you to receive your desired amount of money through an unsecured loan. Here at Personal Loans USA, we walk all of our clients step-by-step through the process of taking out an unsecured personal loan and explain, in depth, why the personal loan comes out on top over the home equity loan.
So a personal loan is considered an unsecured loan – but what even is an unsecured loan? An unsecured loan is not as terrifying as it may sound. It is a loan that is supported solely by the creditworthiness of the borrower. This means that collateral, or assets, are not evaluated in the process of being approved for the loan. This makes a personal loan great for anyone who does not have any assets in their name.
So, let’s start from the basics. Many people consider a home equity loan when they need to get their hands on some cash. However, this is actually likely not your best option. Although there are tax advantages associated with a home equity loan, personal loans are ones that must also be considered for various reasons. Personal loans allow the borrower instant access to their money. “Instant,” in this case, is typically hours after application submission and approval. Personal loans also allow for lower borrowing amounts, if desired. With Personal Loans USA, you can borrow as little as one hundred dollars and as much as thirty-five thousand dollars. Additionally, unlike the home equity loan, personal loans have no closing costs associated with them. Simply put, if you are currently not a homeowner, are looking to borrow smaller amounts of money, and need fast cash, a personal loan is your best option. There is minimal hassle and none of the extensive waiting time that comes along with getting financing via a second mortgage.
How does it all work? With Personal Loans USA, the borrower just has to fill out a short, secured application. Applicants must make sure all provided information is completely authentic and precise. Misinforming your lender could create problems down the road or result in a complete refusal from the lender. Once the application is submitted, the request is sent to a lender, or team of lenders, who will work best for your specific lending needs. Lenders will typically contact their applicants via telephone and/or email within one hour of receiving the request. Upon application approval, the lender(s) will begin the process of putting together a personalized loan package that will allow the borrower to get the cash they need while remaining within their personal budget. Personal Loans USA offers the fastest personal loans in the United States; borrowers will be able to have their cash in-hand within twenty-four hours of request submission.
With Personal Loans USA, it is important to note that lending terms are specific to each individual lender, these terms being loan amount, the APR (annual percentage rate), and repayment schedules, amongst others. The borrower will be presented with all lending terms and all rates and costs associated with the loan prior to any contract being formally executed. So, the borrower must take full responsibility for reviewing in depth the fees, the comprehensive loan agreement, and any other terms outlined by the lender. Although we are able to provide loan amounts of up to thirty-five thousand dollars, note that not all lenders can provide a thirty-five thousand dollar loan, if that is what is being sought. Additionally, not all lenders will qualify for the maximum borrowing term of seventy-two months. Terms may also be dependent on local laws.
Personal Loans USA guides our clients through every step of the loan. Our comprehensive credit education will ensure the borrower feels safe and secure while requesting and executing a loan contract. We give potential borrowers the tools they need to maximize their borrowing power, deal with online loans, conquer those interest rates, reduce debt, and recognize and avoid loan scams. We even offer education for first-time borrowers and outline the consequences of failing to pay back a loan.
As with any other type of loan or financing, the borrower’s success is heavily dependent on his or her credit rating. However, there is no need to fear with Personal Loans USA; we have options available for borrowers with lower credit statuses. A borrower’s credit score (also known as a FICO score) is one of, if not the most influential factor of their potential loan approval. Even individuals with a poor credit score can take steps pre-application to not only help themselves, but to also be looked at as better borrowing material for lenders. Starting from the beginning, it is important to understand how someone obtains a low credit score. Most often, low credit scores are attributed to having debt. Getting rid of debt can be intimidating, but there are steps that can be taken to do so successfully. First, it is important to reduce discretionary expenses as much as possible. These are things like going out to eat, going to the movies, going shopping, etc. The next step is to come up with a budget – monthly, weekly, biweekly – it is up to the borrower as long as it can be adhered to. Set aside the necessary funds for bills and extra expenses, and put the remainder into a savings account. Personal Loans USA offers debt-resolving loans for people of all credit types, whether it be for credit card debt, student debt, mortgage debt, or medical bills. Fixing a low credit score will likely also effect interest rates for the better; the higher the credit score, the less of a risk it is for the bank or lender to provide the money, thus, the lower the offered interest rate will be.
While some people are running the hurdles associated with poor credit, Personal Loans USA also considers a decent portion of the loan-requesting community with no credit at all – students. Personal Loans USA does, in fact, provide services for students, as well as people in general, with no credit so they can get the money they need for their tuition payments/financial needs while also starting to build up their personal credit by way of paying back their personal loan.
Personal Loans USA offers a loan calculator on our website. It is a good idea for potential borrowers to use this loan calculator before filling out and submitting their loan application. The calculator is extremely user-friendly. Simply put in the desired loan amount, followed by the yearly interest rate and borrowing term. Once all information is successfully filled in, the loan calculator will provide the potential borrower with his or her monthly payment. The rate and term can be adjusted to output different monthly payments. In addition, the monthly payment can be adjusted to change the loan amount. The calculator is a great way to show borrowers firsthand what they may be getting themselves into. The goal of the calculator is to aid clients in making a decision that is most responsible for them and their financial needs.
With Personal Loans USA, anyone can achieve their personal goals for financial success. Whether it be for a pleasure item, such as a vacation or a large-scale purchase, to get rid of the debt doom cloud, or to make some tuition or tax payments, Personal Loans USA can provide anyone with the cash they need to do so – and all within twenty-four hours of filling out and submitting an application. Borrowers are to be given a loan package as tailored as possible to ensure payback ability and avoid any long term, drawn out payments. Additionally, our sweeping credit education will provide potential borrowers with everything they need to know. We cater to people of all backgrounds and credit scores, so low credit-bearers have no need to be discouraged by their current status. Never taken out a loan before? That’s no problem at all with Personal Loans USA. We’ll teach you everything you need to know, including how to dodge those pesky scams. Our service is FREE and will NOT affect your credit score. So what are you waiting for? Click on the link below to see how much of a personal loan you get approved for!