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Personal loans are a valuable source of quick cash when you want to finance a home renovation, consolidate high-interest debt or cover almost any other financial need. These installment loans are available at most banks and credit unions with rates, terms and conditions that can vary widely from one lender to another. Comparing loan offers […]
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Risk-based pricing is a method that lenders use to determine interest rates and other terms based on the applicant’s creditworthiness. While credit scores are the primary way lenders can evaluate your creditworthiness, they typically consider several factors before making an offer. Here’s what you need to know before you apply for your next loan or
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Extending your loan’s term might give you more time to pay off a debt or lower your monthly payment. But it’s not always an option, and extending the term can also lead to paying more interest over the life of the loan. Read on to understand the impacts, possibilities and alternatives that can be helpful
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Deferred interest is when a no-interest loan or credit card has a period of zero interest—if you pay off the balance before this timeframe ends. If you aren’t able to pay it in full by then, interest payments will be owed, often retroactively. It’s important to understand how deferred interest works before you take out
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Choosing the right term for your loan can make a big difference in your monthly payment and total cost, as well as the obvious impact on how long you’ll be budgeting for payments. And there’s more: Longer loan terms can mean higher interest rates, which can mean even greater differences in overall costs. If you’re
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Having a low credit score can make it challenging to get a loan. Bad credit could limit your options and lead to more expensive loan offers. However, many reputable lenders have lower minimum credit score requirements and may also consider other factors besides your credit score, including your income, debts, collateral and credit history. A
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If you’ve recently been denied a loan, you’re not alone. Understanding the reasons why your loan was denied can help you determine your next steps and improve your chances of getting approved the next time you try. Even if the sting of denial may still be fresh, here’s what you can do. Understanding Why Your
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Loans can help you finance important purchases such as a vehicle, education or home, along with just about anything else. But if you’re thinking about taking out a loan, whatever the reason, it’s a good idea to understand the total cost of the loan and how you might be able to reduce what you have
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