Archive for the ‘Loans’ Category
How does a finance company tell if a previous loan has been paid out?
A web user asks, My partner and I are going for a car loan (it will be a secured loan with security over the car). The finance person asked what payments and loans we have each month, I told them everything accurately but forgot a small personal loan which we have. When checking my your credit rating can they tell that we still have this loan. I have obtained a copy of my credit report but it doesn’t say anything about previous loans whether they have been finalised or not, can a finance company see this information? will it go against us?does a finance company see the same as what i see on my credit report or do they see more?... read more
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how long does an unpaid personal loan take to clear off credit reports?
A web user asks, how long does an unpaid personal loan (initially $15,000) take to clear off credit reports?... read more
Can you get a loan to renovate,extend and improve yard using your home as equity only?
A web user asks, want to renovate, extend with new living area, build a garage and fix up yard and fence. Can I get a loan using my home as equity only? Neither of us work, partner has severe back injury, and we have 3 children. At completion I would like to work from home doing child care, I’m trained, but need these improvemnts to make house suitable to do this.... read more
What are the pros and cons of a fixed term home loan please?
A web user asks, I understand if interest rates go down you don’t get the savings passed on but aren’t they more likely to go up? Does it keep you “safe” to have a fixed loan? I’m also curious as to why everyone doesn’t use this option (if it is so good). Thanking you for any advice!... read more
How long does it take to get a Bridge Loan?
A web user asks, We have found a house we want to buy and our offer has been accepted. However the seller (real estate investor) has a previous “verbal agreement” w/ a couple that if he receives another solid offer (OURS!), he would give them 3 days to get a bridge loan. They haven’t sold their home. I am worried they will be able to do this!! Does it take a few days to get approved for this type of loan? Do online lenders do these type of loans? They have til Monday morning which only leaves one business day this week- Fri. Any insight appreciated.... read more