Personal Loans

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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 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 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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  • 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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  • 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 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 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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  • 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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  • Q: How do I pay my GE Money personal loan online?

    A: To make a payment on a GE Money personal loan online, go to their website and register for a consumer account. After logging into the account home page, click the green "Make Payment" button to make a single online payment. Alternatively, click on either the payment or accounts links.
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  • Q: What are some small personal loan options?

    A: Some small personal loan options include the home equity personal loan, which requires the use of a home's equity as collateral, and a home equity line of credit, which involves taking a revolving amount as necessary and using a home's equity as collateral, reports Debt.org. Short-term personal loans and payday loans are common options among borrowers who need urgent funds. Second-chance personal loans and bad-credit personal loans are other small personal loan options.
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  • How do you write a letter to apply for a loan?

    Q: How do you write a letter to apply for a loan?

    A: When writing a letter to apply for a personal loan, the applicant needs to list the purpose of the loan, when the loan will be paid back and a few personal details, according to eAge Tutor. The letter should be written in a professional matter.
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  • Q: How do Chrysler auto finance loan rates compare with private banks?

    A: Chrysler has the advantage over bank auto loans, as of 2015, with the ability to offer one-stop service and promotional finance rates, says Business Insider. However, keep in mind that dealer financing is essentially bank financing, but the dealership handles all the research for the buyer, states Autotrader.
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  • Q: What are lending sources for someone with poor credit?

    A: Among other alternatives for bypassing the banker, peer-to-peer lending — a funding option in which lenders view funding requests from individual borrowers on an online P2P platform such as Prosper.com and LendingClub.com and then decide whether to make them a loan — is for anyone with poor credit. P2P can provide loans at lower interest rates than a savings account might, according to Forbes.com. Other lending sources are friends and family, gifts and grants.
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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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  • Q: Can you obtain a personal loan if you just filed for bankruptcy?

    A: Obtaining a personal loan after filing for bankruptcy is possible, but can be difficult. An individual who files for bankruptcy can expect their credit score to drop by 100 points or more, which reduces eligibility for a loan and increases interest rates.
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  • Q: What is Zopa?

    A: Zopa is a peer-to-peer lending service based in the U.K., according to Zopa. Since 2005, people have lent more than £1 billion through the service.
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  • Q: How can I get a loan at 18 years old?

    A: To acquire a loan at 18 years of age, individuals should contact a lender, provide proof of income, complete a loan application, and submit a record of expenses to the financial institution. Proof of age may also be required by certain lenders, according to About.com.
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  • Q: Are you able to get a title loan with no job and no bank account?

    A: ACE Cash Express notes that applicants for a car title loan do not have to be employed, but should be able to prove a consistent income stream. Applicants who apply for a title loan online are required to provide banking account information to facilitate the transfer of funds if approved for the loan. In-store applicants are not required to have a bank account to apply for a title loan.
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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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