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For any loan, the ability and intention to repay are the basic qualifying guidelines.
Cassie Wilkerson:
Intention to pay is basic: but to fully secure any particular loan one must prove ability to do so - does the loans intent to generate more revenue say for a business or decrease costs therefore placing more money in the loan seekers pocket say investing in energy saving improvements to reduce energy cost.
Guideline for loans are basic put these are the standing areas they seek:
Employment
- History of previous debt payment
- Purpose or intent of loan (generates sustaining return to repay)
- Future risk to secure access to revenues (education or other factors if employment changes)
- Capital - can the loan be backed up via secured collateral a house or car
- Co-sign does a person have secured financial supporter into their loan
- Education (does the loan seeker have a solid resources to continuously guarantee employment via specialized knowledge)
- Previous management of cash history- no bounced checks or insufficient funds registered in the persons history.
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Can you get a mortgage when you have a loan?
As long as you can keep your qualifying ratios under certain thresholds (they vary by loan type and program) you can get another mortgage while you have an existing mortgage. If your qualifying ratios are to high- then you will need to sell or refinance your existing mortgage to get your qualifying ratios within guidelines. Should you have any other questions- feel free to contact Joy Bates, NMLS # 243437 or for California or Texas Home Mortgage Loans go to www.legacyfinancial.com
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Try your Sunday Newspaper under " NON-QUALIFING"
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Depending on your state's laws, there may be specific guidelines regarding the use of a payday loan.
If you have bad credit and high debt and apply for an 80K loan with a cosigner with very good credit and high net worth will you get the loan?
That is determined by the lenders loan guidelines.
Is a payday loan yes a guaranteed loan or do certain qualifications have to be met?
No, a payday loan is not a guaranteed loan. As with all loans, certain qualifications have to be met. Before qualifying for a loan, one must prove that they have a way to potentially pay it back. The individual that wants a loan has to prove to the lender that they have a way of paying back the money that they borrowed.
where can I get a secure payday loan?
Personal Cash Advance is the fastest way to obtain secure, online cash advances and payday loans. Signing up and qualifying for a payday loan is quick and easy.
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The amount of your income dependson the loan size you need. Contact your local banks for guidelines.
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I have learned there is really no such thing as a consolidation loan anymore. The banks and other loan agencies do not carry this particular loan anymore.
