When having a new baby, a wedding, a car purchase, childs education or home improvement, we help you manage
your finances and offer you greater control and flexibility. It allows you to tap into variable interest rates. There
are few lenders who can offer you loans with fixed interest rates. Also, you can find loans with large
balloon payments at the end of the loan, and others with no balloons but with higher monthly payments.
We have options that are designed to help those with no type of security. The
first option allows our clients to obtian a fully secured loan and start building credit for themselves. Paert of the loan
is paid upfront and the repayment starts immediately. Whereas, in most cases banks, S&Ls, brokerage firms and
credit unions offer this option, suitable for consumers who fit the criteria. This is not the case here at H&G. We
are especially helpful with those who have bad credit. We try to reduce their cost of living and
improve their repayment history. Another benefit is that interest paid can be used for tax deduction purpose, if you itemize
it carefully.
The
second choice is a home equity loan, secured by your home or object of equal value, with a low interest rate and a specified
draw period. It is much like an unsecured personal loan except that it's secured by a second mortgage
on your home. A loan can increase and decrease just like an unsecured personal loan. Another option, the third and
last choice, is to have a co-signer who has maintianed an excellent credit rating for over one year,has never fieled bacrupcy
and does not have a current loan that will help you secure your loan. Where as in options, 1 and 2, the loan
is signed completely in the applicants name, when choosing a co-signer the responsibility of the loan is shared
between the applicant and co-applicant.
Other than interest rate, you may have to pay some fees for using . The
type and the exact amount vary from lender to lender. Broadly you may be required to pay upfront application fees, attorney
fees, title search, appraisal cost etc., continuing costs, transaction fees etc. The upfront closing costs may be very
low, as most of the information required might have been collected at the time you opened your account and may be
readily available. You can also talk to the lender and negotiate with him to waive or bear some of these costs. Take into
consideration all the costs while making a decision on your type of loan.
There are options available for you to renew
all types of loans. However, your
entire loan amount has to be paid in full. Is a
loan available to consumers with bad credit?Why not? Loans are always available for people with
bad credit history. From another point of view it is an opportunity for people with a bad credit history to improve
their credit rating. This is perfectly possible if you repay the loan within the stipulated time. Things to
watch out for are interest rate, and terms and conditions of repayment.
Loans are growing in popularity.
Consumers are using it effectively to finance their expenses. Many consumers, who have bad credit history, are using loans
to improve their credit rating. So what are you waiting for, go get it.
Contact us today.
