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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  • 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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  • 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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  • 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 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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  • 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 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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  • Q: What Is the Federal Home Loan Bank Rates Average?

    A: The Federal Home Loan Bank Board collected average mortgage rate data from financial institutions around the country until 1989. The National Average Contract Mortgage Rate data is now collected by the Federal Housing Finance Agency, and a chart of monthly average mortgage rates for single-family resale homes through 2012 is available on the agency's website at FHFA.gov.
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  • Q: What Services Does the Chemical Bank in Michigan Offer?

    A: Chemical Bank in Michigan offers services for individuals and businesses, as well as wealth management services. These services include checking and savings accounts, debit and credit cards, prepaid cards and loan products. Title services and financial workshops are also provided by Chemical Bank in Michigan.
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  • Are There Online Loan Tables to Use?

    Q: Are There Online Loan Tables to Use?

    A: Bankrate.com offers different types of loan calculators, including a common loan calculator for computing auto, mortgage and fixed loans. There are also special auto loan and mortgage calculators available.
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  • Q: Is It Possible to Get a Quick Cash Loan Online?

    A: Quick cash loans are available online at LoanNow, Northcash and I Need a Loan. While LoanNow has loans available for as low as 29 percent interest, the typical annual percentage rate on its loans ranges from 79 to 189 percent, according to the company
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  • What Is a Combo Loan?

    Q: What Is a Combo Loan?

    A: A combo loan is a form of mortgage loan involving a combination of two loans against one asset, most commonly a house. The combo loan was created to eliminate the borrowers' need for private mortgage insurance when financing more than 80 percent of the home's value.
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  • Q: What Types of Hardship Financial Assistance Are There?

    A: There are a few different types of financial hardship assistance, including difficulty making monthly payments on debt from home, auto or student loans or difficulty making monthly rent payments. The exact type of assistance available may vary by institution; for example, Wells Fargo Bank has a specialized assistance program that can help its customers work out payment plans and other deals to cope with excessive credit card or loan debt, as reported by Wells Fargo. Different banks may take different approaches to offering hardship assistance.
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  • Q: What Is a Good Strategy to Pay Off Payday Loans?

    A: There are a few different approaches to paying off a payday loan, including asking the lender for an extended payment plan (EPP) to allow for more time to pay off the loan before incurring penalties, reports Credit.com. Only certain lenders, particularly one that is a member of the Consumer Financial Services of America (CFSA), may be willing to offer an EPP. One common piece of advice for payday loan borrowers is to consult a nonprofit credit counseling service for advice on repayment.
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  • Q: What Are Some Subprime Lenders That Loan to People With Low Credit Scores?

    A: Subprime lenders that loan to people with low credit scores include LendUp, an online provider of personal loans, and Springleaf Finance, Inc., which has branch locations across the country and provides personal and auto loans, as indicated on each companies' websites. Providers of subprime mortgages include AmeriHome Mortgage, Bank of America, JMAC and Oaktree Funding, according to Blown Mortgage. Subprime auto lenders include Ally Financial, Credit Acceptance Corp. and Dealer Funding, as noted by Blue Sky Marketing.
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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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  • What Grants Are Available for Self-Employed Workers?

    Q: What Grants Are Available for Self-Employed Workers?

    A: As of 2015, the National Association for the Self-Employed, also known as NASE, offers its members the opportunity to apply for grants worth up to $5,000 each, as its website details. The organization intends for these grants to fulfill the particular needs of small businesses. Recipients use the money to buy equipment, develop technology or hire assistance to help start their small businesses or to survive through difficult times.
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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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