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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  • 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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  • 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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  • 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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  • 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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  • 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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  • 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 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 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 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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  • 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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  • Q: Why do some states ban Western Sky Loans?

    A: Western Sky loans were banned in a number of states due to their interest rates and additional charges that were impossible to find before completing the application, says Anisha Sekar for NerdWallet. However, as of April 2015, Western Sky Financial no longer exists.
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  • Q: How do you get a GMAC vehicle loan?

    A: As of 2015, GMAC vehicle loans are managed by Ally Auto, a branch of Ally Financial, according to CarsDirect. Loans from Ally Auto cover personal and business auto financing for all vehicles from the GM brand family, including Buick, Chevrolet and Maserati, according to Ally Auto.
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  • Q: Why do you need to give your pay stub when applying for a loan?

    A: Lenders typically require pay stubs with a loan application to ensure that the applicant has the income to pay off the loan. All the applicant's pay stubs from the last two to three months are normally required, as of February 2015.
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  • Q: Does GE Capital Bank lend money to small businesses?

    A: GE Capital provides financing to a variety of businesses, large and small, to cover startup costs, equipment upgrades and retail credit expansions. This institution specializes in a wide range of industries, including aviation, health care, real estate, and energy.
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  • Q: What loan services does First Financial offer?

    A: Loan services offered by First Financial for individual clients include auto loans, mortgage loans and personal loans, according to FirstFinancial.com. The company also offers a range of business loan options.
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  • Q: How do you get a loan with no job?

    A: People without jobs can go to pawn stores for loans, get home equity lines of credit or ask someone to co-sign on the loan. However, it helps if they have other income sources, such as unemployment or alimony payments. There are also no-documentation home mortgage loans.
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  • What do you do if you cannot pay a private loan shark?

    Q: What do you do if you cannot pay a private loan shark?

    A: A private "loan shark" is a person or entity that lends money without official licensing or oversight from government agencies. As such, anyone who borrows money from them is not legally obligated to repay them, especially if the "loan shark" uses intimidation or threats against the person in question.
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  • Q: Where can you get a loan in an hour?

    A: Businesses from which a borrower can get a loan in an hour include sites like One Hour Loan, Quick Cash to Go and 1 Hour Loan, available to users anywhere in the United States. Borrowers who would rather use a more traditional loan method would need to contact local loan locations in order to find out how long the process would take. Sites like One Hour Loan use encryption to keep information secure, according to the company's website.
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  • Q: What are some common payment terms?

    A: According to AccountingTools, common payment terms include one or more of the following components: net, discount and end of month. Payment terms are rules a supplier or seller imposes on a buyer.
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  • Q: What are the advantages and disadvantages of National Payday Loans?

    A: The advantages of getting a payday loan through National Payday include the fact that the company tends to approve all applicants who have a job that pays more than $1,000 per month, according to National Payday. This means that it is easy for most working people to get a short-term payday loan through National Payday. However, there are many disadvantage to this type of short-term loan, including the fact that the Washington State Department of Financial Institutions investigated the company for a potential scam operation in 2009.
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  • Q: What are some loan programs available for purchasing agricultural land?

    A: Loan programs available for purchasing agricultural land include the U.S. Department of Agriculture's beginning farmer and rancher development program, direct and guaranteed farm loans, microloans and the down payment loan program, according to National Sustainable Agriculture Coalition. Farm Credit System institutions, private banks, and the Farm Service Agency also offer loans to purchase land.
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