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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  • 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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  • 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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  • 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 "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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  • 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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  • 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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  • Q: Is there a way to apply for an emergency loan with online companies?

    A: Consumers can apply for a short-term emergency loan with one of many cash lenders that offer online applications, as stated by NeedCashNow. These are also known as "payday loans" because they typically require repayment on the customer's next payday.
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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 apply for a personal loan from Mutual of Omaha?

    A: To apply for a personal loan from Mutual of Omaha, apply at a local bank branch, or call the customer service department, according to Mutual of Omaha Bank. There are four different loans and lines of credit available from the bank as of 2015.
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  • Q: What is the limit on a conforming loan?

    A: As of 2015, the maximum general loan limit for a conforming loan on a single-unit residence is $417,000 in the contiguous states, Puerto Rico and the District of Columbia, according to FannieMae. For Alaska, Hawaii, Guam and the Virgin Islands, the limit is $625,500 for a single-unit property.
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  • Q: What is a loan modification letter?

    A: A loan modification letter is a written request from a borrower to a lender to change the terms of the loan from the previously agreed contract, according to Loansafe.org. Borrowers usually request loan modifications due to financial hardship.
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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 good loans for people with bad credit ratings?

    A: Personal loans, instead of credit cards and payday loans, offer a good option for those seeking to rebuild poor credit ratings, explains Avant. Personal loans often offer a lower interest rate, spread reasonable payments out over a manageable period of time and can build positive credit history when borrowers make payments on time. Borrowers should borrow from lenders who report to credit bureaus to ensure this positive history goes onto their credit report.
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  • Q: What is a registration loan?

    A: A registration loan is a type of loan that combines a payday loan and a title loan. These types of loans are available in Arizona and have taken the place of a traditional payday loan. Borrowers must have a vehicle that is registered in their name to be approved.
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  • Q: How do you get a loan with World Financial?

    A: As of 2015, World Financial Group does not offer loans. According to the company's official website, an entity is using the World Financial Group name, logo and letterhead to scam people with false loan offers.
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  • Q: How can you get free government loans?

    A: Individuals cannot get free loans from the U.S. government because qualifying applicants who obtain government loans are required to pay back the loans, usually with interest, according to USA.gov. In comparison, eligible people who receive grants are not required to pay back the grants.
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  • Q: How do you get a Chase small business grant?

    A: JP Morgan Chase Bank offers Mission Main Street Grants for $100,000 to small businesses that operate within the United States. To apply, businesses create an online profile, receive at least 250 votes from the general public and submit a completed questionnaire. A panel of judges makes the final decision on grant recipients, according to Chase.
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