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How to Find Cheap Secured Loans Online

You’re looking to put a new roof or an extension onto your home, or maybe the kitchen needs a refurbish. It could be that you want to roll all your current bills into one lower payment, or have a chance to take that family cruise through the fjords of Norway at a great price – whatever the reason, you’re looking for cheap secured loans and finding yourself staring at page after page after page of adverts all promising cheap secured loans are just a click away – but every click just leads you to another page of adverts promising cheap secured loans. This is supposed to be EASY, or so you’ve been told – but finding cheap secured loans online can be a bit like poking around a haystack looking for the proverbial needle.

There is an easier way – one that will help you find the best secured loans online – not just the cheapest loans, but the ones that are the best fit for you. Rather than poking about willy nilly with a pitchfork, have a sitdown and follow along with us step by step.

1. Figure out how much you need to borrow.

If it’s for debt consolidation, total up all your outstanding debts, along with any early repayment fees. If it’s for home improvements, shop round for an estimate of the cost, etc. Before you start comparing loans, it helps to have a notion of how much you want to borrow.

2. Check your credit score.

Your credit score will directly affect the loans for which you can qualify. The higher it is, the cheaper loans you’ll be able to get. You don’t need a specific number, but it’s helpful to know if your credit is excellent, good, average, fair or poor. Get your credit report and give it a good lookover.

3. If there are problems with your credit report, fix them.

Approximately one in every three people who check their credit reports find errors on them. Those errors range from charged off bills still being listed to entire credit cards in their name that they’ve never held. If there are errors in your credit report, write to the credit reference agency immediately to ask that they correct them.

4. Compare loans online to find cheap secured loans aimed at your credit rating.

Skip the search engines, though. Googling for cheap secured loans is likely to plunge you into the haystack without any sort of guidance at all. Instead, start your search at a site like that specialises in presenting loans for your comparison.

5. Don’t assume that loans with the lowest APRs are your best deals in cheap secured loans.

There are a lot of different factors that add up to the best loan for you, and you’ll have to do a bit of homework of your own before you can decide on which is which. If you’ve got a bit of wiggle room in the monthly finances, then total loan cost is your best comparison point. Anything you’re not spending to borrow money is money that you have to invest and build more money, after all. If, on the other hand, you’re tightening your belt buckles already, then your best cheap secured loans may well be those that offer a lower monthly payment but a higher overall cost. Be sure to compare for cheap secured loans by the comparison method that makes the most sense for you.

6. Narrow loans down by APR and market.

Look for loans that are aimed at the segment of the market you fit. If your credit is poor, you won’t do anything but waste your time applying for loans aimed at those with excellent credit. Use the APR as a preliminary judge of just how cheaply the company does business in comparison to others.

7. Ask for multiple rate quotes

Every company has their own lending scale – which means that one company may only be willing to lend you 60% of your vested value in your home at 15% APR – but another may be able to offer you a personal loan for 11% APR for 75% or even 80% of the value of your home equity. The only way to find out is to ask for a loan rate quote. When you do, be sure to specify that you only grant permission for a quotation credit search, not a full credit search. The company will get all the information they need to offer you a quote on a rate – but it won’t be noted on your credit record as a loan application.

Applying For a Home Mortgage Loan Online – Some Precautions You Need to Take

The process of applying a home mortgage online is very simple. Besides that, the Internet is also a great place to perform some research before making your final decision. The online mortgage industry is growing like wildfire, there are many lenders available to offer dynamic programs. This has created fierce competitions among different lenders.

It is not uncommon to find many lenders offering free mortgage quotes at their websites; they also provide you access to some useful tools such as mortgage calculators that can help you calculate the projected costs associated with the loan.

When applying for a home mortgage loan online, you’re required to fill up some application forms. These forms are provided from a secured connection that can protect you from a possible identity theft.

Besides providing your personal and contact information, you also need to provide some details for your loan such as how much you want to borrow; desired interest rate and type of loan. Once you have completed the forms, they will be sent directly to a loan processor to be reviewed. And you will be notified when your application is approved.

As you can see, applying a mortgage loan online is a very simple process. However, there are several things you need to be aware of.

1. Make sure that the online home mortgage lender you apply to has an office in your home state. Not all online mortgage lenders have representation in all the 50 states.

2. Beware of online scam! The Internet is very convenient for research purposes but it’s also full of scam artists. So make sure the website has full contact information; check them out by calling the telephone number.

3. Accountability can’t be guaranteed. There is no formal institution exists for you to complain to if somethings go wrong and the online mortgage lender doesn’t take any responsibility.

4. Some online mortgage lenders will charge you for processing your application. The fee is not refundable even if your application is not successful.

So make sure you take the necessary precautions when applying a home mortgage loan online to stay out of problems. Talk to several estate brokers and make comparisons; do your homework well and you’ll find the best deal you deserve.

13 Ways To Steer Clear of Payday Loans Online

Steering away from direct payday loans is one of the best things you can do for your budget. If you are not scrambling to get fast cash because something extra popped up, then you are ahead of the game! Many people are living from paycheck to paycheck and find the need to apply for online payday loans when the expenses become too much to handle. It takes lots of hard work and dedication towards your finances to make changes for the better.

*Motivate yourself to pay off your debt. Keep a chart on the fridge or by your desk and keep track of the lowering expenses. Watching your debt fall before your eyes is a great way to keep yourself on track when tough days challenge your budget.

*Find a method to pay down your debt which fits your style. Some choose to attack the largest bill first, others go for the one with the highest interest rate and some like to stab at the small debt first for immediate results. Whichever you choose, stick to the plan. If you have an online payday loan as debt, the high interest attached to outstanding debt will be cumbersome if not taking care of right away.

*Finding an extra source of income to increase payments towards your debt is a great way to make your plan a quick success. Hustling some money on the side form selling things you do not need, babysitting, or doing odd jobs for friends or neighbors are quick cash to add on to your payments. Any bit of extra to lower the principle will help.

*Stop using your credit cards. Paying down your debt but creating more on another card defeats the purpose. Tuck them away and keep from using them while you work at ridding yourself of debt.

*Keep on track with reminders. Continue to make your payments on time even if they are the minimum ones. Set up reminders on your phone or computer so there is no freedom to forget your focus.

*Get your family involved with the plan. Have a meeting each month in order to keep the focus on cutting back. Let your family help make suggestions to new ways to cut back expenses. Keep tabs on the success rate, especially if children are involved. It will be good for them to learn how budgeting works.

*Take ownership of your deb problem. As easy as it is to blame the creditor, the temptations to spend more that you have was ultimately your decision. You made the decision to spend money on the credit cards or use direct payday loans in order to make ends meet. Many people are choosing and third party money without cutting back.

*Understand that debt is a problem. Creditors will not keep lending to you in order for you to keep spending. Using online payday loans when credit cards stop giving you access to cash is not helping the problem.

*Don’t forget interest rates on your debt only make matters worse. The balances will continue to grow with interest as they sit and remain unpaid.

*Read the fine print to any creditor contract. Whether a credit card or payday loan online contract. You need to be informed of your rights and consequences if you fail on your end of the contract.

*Keep additional fees from adding to your balance. Late payments, overdrafts, or spending more than your limit will attach fees to these balances. Even payday loans attach the fees to your payoff. These small amounts add up and just keep taking away from any progress you could be making in getting rid of debt.

*Paying minimum amounts is not going to get you anywhere. If you are focusing your entire extra on one card to lower the debt, then paying minimum on others is temporary. Eventually you will focus extra in order to pay the others off, one at a time.

*Just because your income may increase, your lifestyle costs do not need to. Having a few extra hundred dollars a month can help pay off debt or build a savings. It does not mean you are free to upgrade your car or cell phone, especially if you carry large debt. Prioritize your money; the perks can always come later.