3 best ways to get loan
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27/05/2011 17:40:22
(504 weeks ago)
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Three Best Ways to Get an Affordable Personal Loan

[Aug 13, 2009.]

Thousands of people are searching online for unsecured personal loans at any given time. Some of those searchers will find personal loans that charge very high interest rates or fees. Some will get great deals on personal loans with minimal hassle. It's better to be part of this second group.

Here are three ways to stay on the affordable side of personal loans:

1. Good Credit Score

Borrowers with a good credit score are at a great advantage in obtaining affordable personal loans. Borrowers with over 700 credit who need a personal loan for a good reason are a no-brainer for a wide range of lenders, from traditional banks to social lending sites like LendingClub.com.

Unsecured personal loans repayments are often done through a personal bank account; if ten other lenders have claims to that bank account, an affordable unsecured personal loan is not happening.

2. Steady Job

The other main way to get an affordable personal loan is to hold down a steady job. Also, to be able to verify that this job has been steady over some time. If a borrower can look at bank statements and see that paycheck going in every other Friday, approving a personal loan makes a lot of sense.

3. Easy File

When applying for a personal loan, don't just throw out numbers on the application and hope for the best.

Instead, be prepared and use accurate information. Lenders are able to process "easy file" loan applications much faster and more satisfactorily than applications with missing information, incorrect bank account information, or disconnected phone numbers.

Applying for an unsecured personal loan can be done the easy way, or it can be done the incomplete way, which then turns into the hard way.

Affordable Unsecured Personal Loans Available to (Highly) Qualified Borrowers

Bad credit personal loans are available, too. But the best rates on personal loans are reserved for borrowers with good credit, verifiable income, and organized application information.

Rates as low as nine percent annually, with fixed repayment schedules, with no collateral posted, are readily availabe to qualified borrowers, even in this still-restricted credit environment. Remember: lenders are borrowing at low interest rates themselves--as low as zero percent for the major banks.

Anyone who can borrow at zero percent and then lend at nine percent is obligated to at least consider the possibility, if trustworthy borrowers can be found. In that sense, the Internet is helping personal loan lenders as much or more than personal loan borrowers.