Personal Loans

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 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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  • 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 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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  • 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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  • 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 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 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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  • 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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  • Q: How do you apply for financial aid?

    A: To apply for financial aid, an applicant must complete the Free Application for Federal Student Aid through the U.S. Department of Education and complete an application for financial aid at the institution of higher learning where she desires to attend. Additional forms may be required by the college.
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  • Q: How can you make a payment on your SBA loan?

    A: A person can make a payment on a Small Business Administration loan online or via mail. Automatic draft payments can also be set up that are taken every month from a savings, checking or credit card account.
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  • Q: How do you apply for a Jackson Hewitt Money Now loan?

    A: Jackson Hewitt no longer offers the Money Now loan, according to its website. As of 2015, it offers tax refund anticipation loans of up to $850 through First Money Center.
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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 do you become eligible for VA loan benefits?

    A: To be eligible for home loans, current active duty personnel, veterans, reservists and members of the National Guard must have sufficient credit and income, have other than dishonorable discharges, and meet the minimum service requirements, reports the U.S. Department of Veterans Affairs. Under certain conditions, spouses of veterans and those with service in other qualifying organizations may also be eligible for loans.
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  • Q: How do I write a personal loan agreement?

    A: A personal loan agreement should cover in detail how much money is being loaned, whether any interest is being charged, and when the loan balance is due to be repaid, along with the applicable payment schedule if the money is due to be repaid in installments, according to Nolo. This type of agreement is often called a promissory note. Though a loan agreement that has been properly signed by all parties involved is typically considered a binding legal document in all states, getting it notarized may be a good choice for added protection.
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  • Q: Can you apply for a loan online?

    A: Many lenders allow customers to submit online applications for financial products such as personal loans, auto loans and other types of credit, according to Wells Fargo and Bank of America. In some cases, approval comes online, while in others, banks follow up with a call to gather more information.
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  • Q: What is ACE Cash Express?

    A: ACE Cash Express is a payday loan company. It also offers long-term loans, car title loans, check cashing, auto insurance and prepaid debit cards both online and at select retail locations.
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  • Q: What are some facts about Citibank's debt consolidation loans?

    A: Citibank offers one-time personal loans of up to $50,000 that can be used for debt consolidation, according to Citi. To qualify, an applicant must be a U.S. citizen or resident alien, have an active Citibank bank account and make at least $10,500 a year. No down payment is required, as of 2015.
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  • Q: What information is on an amortization chart?

    A: An amortization chart contains information on the monthly payment of a loan, including how much of the monthly payment goes towards interest and how much goes towards the principal of the loan, according to TVMCalcs.com. It also shows the remaining principal after each payment.
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  • Q: What is the process of loan signing?

    A: The loan-signing process starts with a borrower completing and signing a loan application in the presence of a loan officer where the borrower gives their credit score, collateral and discusses the rules of the loan. After the loan has been applied for, the lending institution processes and either approves or denies the loan, then the borrower is assigned a notary signing agent (NSA) and the two of them go through all of the legal paperwork before they both sign to accept the loan, according to 123 Notary.
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