This is default featured slide 3 title
This is default featured slide 4 title
This is default featured slide 5 title

Monthly Archives: May 2017

Some Advantages Hard Money Loans

Quick Loan Approvals: You can get it approved far quicker than traditional banks or financial institutions – which may take at least 3-4 weeks. In many cases, a borrower can receive approval and financing within a week – especially if requested documents are presented in a timely manner. The main reason hard money lenders are able to approve loans quickly is that of the short list of required documents and the smaller size of the lender’s organization which doesn’t have to deal with the corporate red tape that banks do.

Lenient with Credit History: It will also be more lenient with your credit history. If you apply for loans from top financial institutions, one of the main factors they will check is your credit. If a borrower doesn’t fit within a bank’s strict “credit box”, the chances of qualifying for the loan becomes significantly lower. In the case of hard money lenders, credit history doesn’t matter as much as the value of the asset and the borrower’s equity – or “skin in the game”. As long as both meet the expectations of the lender, you have a good chance of obtaining the loan.

No Prepayment Penalties: Another significant benefit is the absence of prepayment penalties. If you take out a loan from a large financial institution, you would most likely be hit with a prepayment penalty if you pay off the loan prior to the maturation date. You can avoid these fees by opting for hard money loans. It is not difficult to find a hard money lender willing to lend you money without prepayment penalties baked into the term sheet.

Info of Payday Loans Online

Online payday loans are becoming more and more popular these days. One the best thing about online payday loan is its simple application process. The application takes less than 5 minutes to complete and the portal is usually open 24 hours a day. The borrower can simply file the application for the loan online and the funds are transferred by direct deposit to the borrower’s account. The repayment of loan in such a case is directly withdrawn electronically from the borrower’s account after he gets his next salary or after his post-dated cheque becomes mature. A list of the Direct Payday Lenders is as follows:

  1. Check Cash: They give their approval application within 5 minutes by providing loans online or at their offices is U.S.
  2. They provide an online payday loan once the customer is approved by checking his valid account and not any prepaid or savings account.
  3. Cash Central: This is one of the oldest payday lenders in the country with a 24*7 online application portal.
  4. MypaydayLoan: This too provides the customer with an approval response within 4 minutes of a completed application form. It is one of the largest of its kind in the country.
  5. Blue Trust Loans: It funds loans between $300 to $1250 in almost every state. With a payoff time of 6 months approx.., these loans have no penalty for repayment.
  6. MoneyLion: They offer loans to almost every state in the country with varying rates and terms in each state. It has loan programs available for consumers on all ends of the credit score spectrum.
  7. Net Credit: It provides an instant approval decision with no borrowing limits for first timers. Applicants are eligible for $1000 to $10000 loans.
  8. Maxlend: They have many different loans and terms and credit worthiness is not a criterion which is considered. It offers personal loans up to $1300.

Instant Approval Payday Loans

Lenders will typically require a signed declaration that includes what your weekly income, and the particulars of your employer. You’ll also need to provide your own personal details, and possibly those of a friend or someone who knows you. You do not need to worry about a payday loan rejection due to your credit rating: Most lenders will not check your credit unless you default on a payday loan. One possible obstacle is that some lenders will only make an immediate deposit into an existing bank account, rather than actually handing you cash in hand, which could require up to three days to clear, depending on your bank.

A same day payday loan offered with instant approval will typically limit you to a fairly low maximum loan (usually between US$500 and $1500) and will attract a higher rate of interest than, for instance, overdraft, monthly credit card interest, or the rate offered by a pawnbroker.

The service offered by payday loan vendors is, in fact, quite similar to that offered by banks with credit and overdraft facilities: Both are based on an assessment of your ability to repay the loan with proven regular income. Since banks usually require a lower interest repayment and have a greater borrowing limit, one might consider taking this option if the cash wasn’t required immediately. If, however, you can’t afford to wait the few days it takes to be assessed, you have a poor credit rating, or your bank statements do not show proof of regular income, the convenience and availability of the offering from advance cash lenders will probably swing this option into favor for your particular needs.

There are a few things you can do to increase your chances of instant approval for a payday loan, after considering the arrangement from the lender’s point of view. If you’re filling out an online application, provide all that is necessary to convince the person assessing your loan application that you’re a safe risk That means providing more than the minimum amount of necessary information where you can. If anything you provide an assessor with is questionable or difficult to verify, they’ll be able to fall back on additional information you’ve provided them with, like references and employer details. If you’re applying in person, take some care with your presentation. Do your best to use neat handwriting, and if you go into the lender’s office in person, dress well. They are much more comfortable lending money to a well-spoken, well-dressed individual than someone with a bad attitude or who looks like they will have trouble paying back the short term loan.

Taking Out a Payday Loan

1. Take a look at your situation A payday advance loan can be a good option for short-term cash flow problems. Before applying for a loan, however, make sure that you’ll have the funds available to repay the loan when it’s time to pay it back to the lender. Also make sure that you understand what fees you’ll be charged, as well as the terms of your loan agreement. Dealing with a reputable lender, whether you apply online or in a store, is also an important factor. The lender you choose can seriously affect your overall experience, including the fees you’ll be charged and your repayment terms. Look for a Community Financial Services Association of America (CFSA) approved member to ensure that you’re dealing with a reputable payday lender. If you decide, after taking a careful look at your lifestyle and budget, that a payday cash loan is a responsible choice for you, the steps for taking out a cash advance loan are straightforward and simple.

2. Apply online or in a store The first step is the simplest: decide if you want to apply for your payday loan online, or by visiting a retail location. Both have clear benefits, depending on your circumstances. First consider your schedule and location; you may not have time to visit a retail location, or there may not be one available within a convenient driving distance. In that instance, an online payday loan may be the simplest approach. Online applications typically take a short amount of time to fill out, and some payday lenders now even offer faxless payday loans to qualified applicants. Faxless loans can be a great option since this cuts back on the time it takes to get your fast cash. Once you’re approved for an online payday advance loan, your funds will typically be deposited into your bank account the next business day. Applying for a cash loan in a store is also a simple process. Many payday loan stores also offer other services not available online, such as check cashing and pre-paid debit cards. By visiting a brick-and-mortar payday lender, you’ll be able to interact with representatives able to answer questions and your funds will be available to you before leaving the store.

3. What you need to apply A qualified online loan applicant will have verifiable source of income (this also includes social security and disability), be 18 years old or older (19 for Alabama and Nebraska residents), have an open an active checking account with direct deposit in their name, and have a valid e-mail address and phone number. Some states have more specific guidelines. A reputable online payday lender should have your state’s rates and terms readily available on their website. To qualify for a payday loan in a store, you’ll need a verifiable source of income, working phone and an active checking account. When you go to the store to apply, bring your most recent pay stub, proper identification and checkbook. It’s a good idea to confirm with the payday lender what sort of identification they accept prior to going to their location to apply for the loan.