Personal Loans

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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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  • 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 "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 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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  • 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 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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  • 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: How Does CashNet USA Work?

    A: CashNet USA is a payday lender that makes small, short-term loans to anyone who is able to prove he receives regular income sufficient to repay them. As of 2015, the company loans money at a 36 percent interest rate.
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  • Q: Where Can You Find Loans for a 17-Year-Old?

    A: Several banks and credit unions offer first loan programs for persons under the age of 18. Obtaining a loan under the age of 18 is more challenging due to the lack of credit history, but it is not impossible.
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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: How Can You Calculate Monthly Payments for a Fixed Loan?

    A: Monthly payments for a fixed loan are calculated by adding the amount of principal and interest, and dividing the total into equal payments for the term of the loan, explains the Consumer Financial Protection Bureau. The principal is defined as the total loan amount, and the interest is the amount of money a borrower pays a lender for the right to borrow.
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  • Q: Where Can You Get a 90-Day Personal Loan?

    A: A few websites provide 90-day personal loans, including NetCredit, 90DayLoans.com and Loans for 90 Days. Consumers must pay these short-term loans within a three-month time span per the interest, terms and conditions of the loan.
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  • Q: What Are Some Tips for Getting Loans With No Credit Check?

    A: When getting a loan with no credit check, look at the interest rates, consider all the options first, and verify that the lender is reputable, recommends About.com. If it is a loan that requires collateral, such as is the case with a car title loan, consider the risks compared to the benefits of the loan.
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  • Q: What Is a Debenture?

    A: A debenture is type of a traditional loan, usually a long-term loan, that is borrowed by a company. There are usually different terms set out during the agreement including the interest, the loan amount, repayment terms, enforcement terms in case of a default and property provisions. Debentures differ from other ways of raising capital, such as bank loans, equity shares and bonds.
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  • Q: How Do You Apply for a CashCall Payday Loan?

    A: You can apply for a CashCall payday loan by clicking the CashCall Consumer Personal Loans link on the CashCall.com home page, according to the website. Clicking the Apply Now link on the Welcome page starts the application.
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  • What Are the Pros and Cons of Auto Title Loans?

    Q: What Are the Pros and Cons of Auto Title Loans?

    A: The pros of taking out a car title loan include the easy application process, which usually requires no credit check, and same-day or overnight access to funds, while the cons are extremely high interest rates and the chance of losing the car used as collateral, according to Working Home Guide. Car title loans usually have interest rates from 25 percent to more than 200 percent and entitle the lender to repossess the borrower's car if he cannot repay the loan.
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  • Q: What Is a Loan Agreement?

    A: A loan agreement is a document that binds a borrower to a lender, whereby the borrower accepts to pay back the money in compliance with stated terms. The document is a compilation of various promises made by the involved parties. The agreement usually protects the lender, as it is a legal document that expects the borrower to adhere to the terms and conditions.
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  • Q: What Is a TSP-21-G Form?

    A: The TSP-21-G form is the loan agreement form individuals sign when they borrow against their Thrift Savings Plan accounts, according to the U.S. Government Publishing Office. TSP loans are only available to current military and federal employees, explains Zacks Investment Research. Retired investors and individuals on extended leave are not eligible.
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