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 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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  • 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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  • 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 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 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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  • Q: How do you apply for fast loans?

    A: To apply for fast loans, look for credit providers. Read their terms and conditions, and choose the one with the best terms. Fill out a loan application form. Pick up the cash from the bank or lending institution after approval.
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  • Q: Can loans be forgiven if you are on social security?

    A: Although loans are not automatically forgiven when borrowers are on Social Security, people on Social Security may not have to pay back certain loans if Social Security is their main source of income, reports Forbes. On the other hand, federal agencies can sometimes garnish Social Security benefits to collect debts on federal loans, according to the Social Security Administration.
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  • Q: What is short-term financing?

    A: Short-term financing refers to business or personal loans that have a shorter-than-average timespan for repaying the loan, typically one year or less. Some short-term loans have even shorter terms, such as 90 to 120 days.
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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: Can you get a 90-day loan online or over the phone?

    A: As of 2015, you can apply online for a 90-day loan at several websites, including 90dayloans.com and Loansfor90days.com. Some companies may have the option of applying by telephone, such as We Give Loans, owners of 90dayloans.com. Apply by calling (866) 209-4841, notes the lenderメs website.
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  • Q: What are the pros and cons of cash advance loans?

    A: An advantage of cash advance loans is that a borrower can receive needed funds before their scheduled paycheck arrives, but a major disadvantage is the high fees and interest rates associated with these loans, explains the Federal Trade Commission. The FTC does not recommend cash advance loans.
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  • Q: How does someone write a personal finance statement form?

    A: An individual writes the personal finance statement form by completing the general information section and filling details on his assets, liabilities, his source of income and contingent liabilities, according to Fit Small Business. He also has to write information on notes payable, stocks, bonds, life insurance and taxes.
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  • Q: Why would you need a payday advance loan from Rapid Cash?

    A: People may need a payday advance loan from Rapid Cash to deal with unexpected financial expenses, reports Rapid Cash Advances. It is also ideal for clients who need cash in a hurry, as they can receive their loan on the same day they apply.
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  • Q: What kinds of loans can you get if you are unemployed?

    A: Loan options for individuals who are unemployed include borrowing against a life or home insurance policy, getting a loan with a co-signer or taking a cash advance on a credit card. Borrowing from friends and family, and car title loans are also options, notes About.com.
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  • Q: Can you get a spot loan with bad credit?

    A: Often referred to as spot loans, payday loans are widely available to consumers with bad credit. These loans are typically approved with proof of employment, a post-dated check or bank account EFT information, and a government-issued ID.
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  • Q: What services does Nationwide Debt Direct offer?

    A: Nationwide Debt Direct offers strategies to satisfy and eliminate debt. It works with creditors and collection agencies to negotiate a smaller amount owed, making payments more manageable for the consumer and providing an alternative to declaring bankruptcy, says its website.
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