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What big name banks offer home loans to people with bad credit and what are the interest rates and terms like?
Wiki User
∙ 14y ago
Most banks right now are very particular about credit scores and who they will make loans too. The easier route would be to try and get a loan from FHA which allows worse credit and the rates and terms would depend on the actual credit rating and details.
Wiki User
∙ 14y ago
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Where can you find loans when your credit is poor?
Poor credit will not keep you from getting a loan. Some banks and credit unions offer higher interest rate loans for people with bad credit. Pawn shops and pay day loans are found in the yellow pages. Most of these loans have very very high interest rates and are not a good option.
Do Pioneer military loans generally have a better interest rate that regular banks and credit cards?
Pioneer Military loans may have better interest rates than regular banks or credit cards, but this depends on your credit. If you have a good credit score, you're more likely to get a better interest rate on a loan.
What are the names of a few banks that offer low interest auto loans?
There are some banks as "Rhinebeck Bank" and "Wells Fargo" that offers low interest auto loans. It does depend on multiple factors on what can allow a low interest loan such as credit and income.
What bank offers personal loans to people with bad credit?
Numerous banks offer loans to people with subprime credit. Trying also to check with your local credit union.
How do people contribute to the supply of credit in the economy?
People contribute to the supply of credit in an economy by offering loans to consumers. These would be banks, credit unions, payday loan companies, etc. Consumers contribute to the supply of credit by borrowing money and paying interest, sometimes at very high interest rates.
How are credit cards similar to banks?
Credit cards are issued by banks. They are essentially just a loan at an extremely high interest rate. They are somewhat similar to unsecured or 'signature' loans at a bank.
How banks use the money that people deposit?
Loans & of course they earn interest on it.
Which banks in New York City are best for people with adverse credit histories to obtain loans or accounts at?
Banks in New York City are almost always adverse to give loans to people with bad credit. It will be possible to open an account, but loans will be almost unfindable.
Why are banks willing to pay interest on their consumers' deposits?
Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. They offer other services like bank accounts, credit cards etc. They are willing to pay interest on the consumers deposits because - they use those deposits to grant loans to other customers. The loan customers pay the bank a higher interest on the loan amount. Usually the rate of interest at which banks offer loans is significantly higher than the rate of interest they give to bank deposit accounts
What does a credit for a bank do?
It is an agreement between banks and borrowers where banks make loans to borrowers. By extending credit, a bank essentially trusts borrowers to repay the principal balance as well as interest at a later date.
How do credit unions compare to banks?
Generally speaking, Credit Unions have lower interest rates on loans and credit cards, and higher interest rates on deposits (Savings, CDs, etc) compared to Banks. On the down side, they are usually small, which means less branches, less ATMs.
Do home improvement loans have lower interest rates than most credit cards?
Interest rates for both home improvement loans and credit cards vary. Talking to several banks about their most competitive credit cards and interest rates will give you a good idea of which would be better for you at the time that you would require the money.
