Typically, lenders will base their decision on a combination of credit score, monthly cash flow, and total debt obligations.
Your credit score will have a major impact on the interest rate you are given. The better your credit, the lower the interest rate will be, and vice versa.
What is the difference between a secured and unsecured loan?
The origination fee is the amount of money charged by the lender to process the loan. Typically, it costs anywhere from 1-6% of the total loan amount, though this can vary greatly depending on the circumstances.
Most lenders will at a minimum require the following documents:
-Social Security number
-Email Address
-Basic Contact Info
-Employment Info
-Monthly Income
-Total debt
-Pay stubs
-Copy of drivers’ license
-Utility bills (to verify address)
-Social Security number
-Email Address
-Basic Contact Info
-Employment Info
-Monthly Income
-Total debt
-Pay stubs
-Copy of drivers’ license
-Utility bills (to verify address)