Various Loans Explained

Published: September 23, 2007, 7:47 pm

Tags: nlc loan originating, nlc real estate buying, nlc real estate selling, nlc commercial loans, real estate investing

Loans Qualifying Any name that appears on a loan will need to provide personal credit history including a credit check, even if it is for a business. Therefore it is worthwhile to obtain a copy of your credit report (available free) and ask a lender in advance what you can do to raise your score or look more favorable. Unsecured loans are available to personal and commercial applicants, but have extremely high interest rates and are difficult to qualify for as lenders only look at personal credit and employment history. Secured loans backed by collateral are much more appealing in terms and rates. Personal There are several varieties, but very specific for their purpose: auto, credit card, line of credit, student loans, boat, debt consolidation, etc. Each has different terms and rates. Information is easily obtained from any bank or credit union. Residential See Mortgages Commercial New businesses are asked to provide market studies and reasons they will succeed. The banks are

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