The Types of Loans at Apple Loans
So you're applying for a loan online at apple loans but don't know what to get. They do offer different kinds of loans and you shouldn't pick the wrong one; different loans have different terms meant for different people. It's important to understand them all so that you can make the right choice for you.
Your Options And What They Are
- Homeowner Loan: This is the loan for the generic consumer. A homeowner loan is a secured loan that requires the use of your house as collateral. These loans can give you a lot of money and at a low interest rate. Risky for people who aren't financially stable as not paying your commitments means losing your house. Homeowners are the target audience of Apple Loans but being a homeowner does not guarantee a loan with them. There's also a limit to how much you can loan as you'll be disqualified if the sum of your requested loan and your mortgage is more than 85% of the value of your home.
- Debt Consolidation Loan: This is a loan that pays for your previous loans to turn it into one big loan that you can pay off. This is useful and can save you money from paying the interest of the other loans. It can also cost you more money as it can possibly extend the period of your previous loans and you would therefore be paying even more interest.
- Bridging Loan: This is a temporary loan used for financing a project that doesn't have its finances yet. It is so called because when the project gets its actual, larger finances, the bridging loan is paid off. These loans have a high interest rate because of their short-term nature.
Take your pick and make sure you choose what's best for you.
Click here to know more about this