March 16th, 2010
Yes, it goes by your credit score / reports. If you have no credit or bad credit, it will be more difficult to get a good loan, or any loan. If you do not have good credit, you can probably still get a loan, but the terms and interest will be horrendous.Depends on what you are trying to buy, for example if you are buying a house, the house must appraise enough. But loans can be tough to get these days. Definitely depends on your credit. Can depend on what you have for a down payment, and what other debts you have.What is the loan for? Is it to buy something tangible, like a house or a car? The lender could place a lien or mortgage on the car or house, and thus be assured that they will not lose everything if you disappear.
If you want the loan to finance a vacation or a wild party, the lender will be much less likely to loan you money, unless you can prove you don't really need it.
Grandpa#If you have any other info about this subject , Please add it free.# |
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