Personal Loans

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A conditionally approved loan is a loan approval based on the financial and credit information that an applicant has provided, and it is subject to final verification. Final verification includes employment and income verification, and additional documentation, such as pay stubs, bank statements and utility bills, is required before the loan is completely approved.

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  • What is the difference between a grantor and a grantee?

    Q: What is the difference between a grantor and a grantee?

    A: The grantor is the seller and the grantee is the buyer. In terms of selling a home, for example, the grantor is either the owner or the company extending the mortgage and the grantee is the person buying the home.
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  • How old do you have to be to get a loan?

    Q: How old do you have to be to get a loan?

    A: In order to get a loan, an individual must be at least 18. According to CarsDirect, teens under age 18 remain minors, and legal contracts they sign are not binding.
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  • Who is a co-applicant on a loan?

    Q: Who is a co-applicant on a loan?

    A: According to Investopedia, a co-applicant is a person who is seeking a loan in addition to the primary applicant. A co-applicant increases the chance for the loan to be approved.
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  • Can you get payday loans without a checking account?

    Q: Can you get payday loans without a checking account?

    A: While it is possible to get a payday loan without a bank account, chances are that more information is needed in order for the lender to verify the applicant's income, says HowStuffWorks. The lender may charge higher fees for applicants who do not have bank accounts.
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  • What does "conditionally approved loan" mean?

    Q: What does "conditionally approved loan" mean?

    A: A conditionally approved loan is a loan approval based on the financial and credit information that an applicant has provided, and it is subject to final verification. Final verification includes employment and income verification, and additional documentation, such as pay stubs, bank statements and utility bills, is required before the loan is completely approved.
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  • What is a HARP loan?

    Q: What is a HARP loan?

    A: HARP stands for the Home Affordable Refinance Program. A HARP loan provides a refinancing option intended for people who are able to stay current on mortgage payments but are in a financially adverse situation with their mortgage as a whole and owe the current value of their home or more.
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  • What is a signature loan?

    Q: What is a signature loan?

    A: According to Investopedia, a signature loan is a personal loan that does not require collateral to secure, typically issued by a bank or other financial institution. The loan is issued based on the customer's signature on the loan papers and his word that the loan is to be repaid. Because the loan is unsecured, it is also sometimes called a character loan or good faith loan.
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  • How do you write a letter requesting a loan?

    Q: How do you write a letter requesting a loan?

    A: A letter requesting a loan should be clear, provide all necessary information, and be typed using the standard fonts and format style on a computer word processor program, according to AviatekBank.com. Spelling and grammar errors should be avoided to appear as professional as possible, and it should use formal language.
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  • How can I get a loan if I am unemployed?

    Q: How can I get a loan if I am unemployed?

    A: To secure a loan while unemployed, search online for lenders that specialize in high-risk loans and have programs that do not require employment information on their applications. These applications can be completed in minutes. Be prepared to provide your address, Social Security number and bank account information.
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  • What does "qualifying a buyer" mean?

    Q: What does "qualifying a buyer" mean?

    A: In real estate, "qualifying a buyer" refers to a process of determining whether a buyer has sufficient finances to purchase a home, according to the National Association of Realtors. Qualifying a buyer helps the real estate agent know which homes are best to show the buyer. Items that qualify a buyer include credit score, income, debt ratio, down payment funds and mortgage pre-qualification from a bank.
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  • Q: What are the pros and cons of taking a 401(k) personal loan?

    A: Advantages of a 401(k) loan include lower interest rates and the lack of necessity for bank approval or credit checks, reports Forbes. Borrowing the funds also helps 401(k) owners avoid the 10 percent penalty tax of withdrawing the money before age 59 1/2. Drawbacks include the short five-year limit of the loans, penalties for late payments or job transfers, and the decrease in earnings in the retirement funds.
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  • Q: How quickly can a person get a payday advance from EZ Cash?

    A: Receiving a payday advance from EZ Cash takes only a couple of minutes, states Check Center. To get pre-approved for a payday advance, customers need a permanent residential address, must be currently employed, have a checking account that's active and be 18 years of age, states EZ Cash.
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  • Q: Where can you find free printable promissory notes?

    A: Free printable promissory note templates are available at FormSwift. The promissory notes are downloadable as PDFs, and the language is binding in all 50 states, according to FormSwift.
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  • Q: Do Visa debit gift cards require credit checks?

    A: Visa debit gift cards do not require credit checks. They are paid for in full when they are purchased, and the purchaser sets the amount that is loaded onto the card.
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  • Q: Can you download a loan modification form online?

    A: As of June 2105, a loan modification form is available for downloading at MakingHomeAffordable.gov, according to the U.S. Departments of the Treasury and Housing and Urban Development. The form is part of a package that applicants for the Home Affordable Modification Program, or HAMP, must submit to their mortgage companies.
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  • Q: What are some tips for paying off a home loan?

    A: One basic way to pay off a home mortgage is to make the largest-possible payment every month instead of just paying the minimum amount due, as reported by Bankrate. Even the occasional extra payment can be helpful in reducing the principal amount of the loan, meaning that less and less interest is charged. Focusing on paying more than the amount due allows borrowers to overcome the extra expense imposed by interest.
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  • Q: Where can you get Wonga cash loans?

    A: Wonga cash loans can be obtained from anywhere as long as the applicant meets the requirements to apply because the loan application is completed online and money is deposited directly into a bank account. Wonga is a U.K.-based company. and people who are interested in obtaining a cash loan from Wonga must be U.K. residents.
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  • Q: How do you apply for a Prosper personal loan?

    A: To apply for a Prosper personal loan, create a loan listing on the Prosper website, and then wait for your credit to be evaluated and an interest rate assigned. There are no guarantees of obtaining a loan through Prosper.
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  • Q: What are loan assumptions?

    A: A loan assumption is a process by which a home buyer takes over the mortgage of a seller, according to Bankrate. The lender grants the buyer the same repayment terms, balance and interest rate as the original homeowner had, eliminating the buyer���s need to apply for a new mortgage with terms that may be less favorable. Assumptions are typically allowed on loans sponsored by the U.S. Department of Veteran Affairs or the Federal Housing Administration.
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  • Q: How do you qualify for a subprime loan?

    A: For a borrower to qualify for a subprime loan, a verified income and a down payment of at least 5 percent on the home are required, according to Stephanie Mojica for SFGate. A subprime loan is offered at a higher interest rate to individuals who do not qualify for prime loans.
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  • Q: How can you get financed through Greenline Loans?

    A: Greenline Loans requires a potential borrower to complete an online application with identifying information, proof of income, bank account details and contact information, states the company's website. The company does not perform a credit check but does verify information through national databases. The applicant receives a decision within a few minutes and, if approved, may receive the funds as soon as the next day. The amount of financing varies depending on the applicant's income and other information.
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