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The maximum rate of interest you can legally charge someone in Wisconsin is five percent. The only way a higher interest rate can be charged is if there is a written agreement between the two parties.
Some lenders may find you a higher risk and thus charge you a higher interest rate.
Alternative financing is financing that has a higher interest rate and is not considered conventional or first tier. It is procured from lenders that charge fees and higher interest rates.
Interest rates are directly tied to your credit history. The company making the loan needs to make money, so your poor credit record will cause them to charge you higher interest.
Absolutely. If your credit history is negative and your scores are low as a consequence, lenders will consider you a higher risk. If your credit score is, for example, 680, a lender will charge you a higher interest rate than someone with a credit score of 750.
The maximum rate of interest you can legally charge someone in Wisconsin is five percent. The only way a higher interest rate can be charged is if there is a written agreement between the two parties.
Some lenders may find you a higher risk and thus charge you a higher interest rate.
They charge a much higher interest on loans than they pay on deposits.
Alternative financing is financing that has a higher interest rate and is not considered conventional or first tier. It is procured from lenders that charge fees and higher interest rates.
Interest rates are directly tied to your credit history. The company making the loan needs to make money, so your poor credit record will cause them to charge you higher interest.
They loan out the money in their customers' accounts and charge a higher interest rate on the loans.
Because they offer a higher rate of interest to their deposit customers. Loan Interest is the chief source of income for all banks & financial institutions. The difference in the rate of interest offered to deposit customers and loan customers is usually the profit a bank makes. Usually people prefer banks when compared to financial institutions to deposit their money. So to attract customers these institutions offer a higher rate of interest on deposits with them. In order to maintain their profit margin, they charge a higher rate of interest on their loan customers. So, higher the rate on deposits, higher is the rate on loans.
Absolutely. If your credit history is negative and your scores are low as a consequence, lenders will consider you a higher risk. If your credit score is, for example, 680, a lender will charge you a higher interest rate than someone with a credit score of 750.
payday lending operations charge higher interest-rates than traditional banks
If the charge is for a higher crime concerning marijuana such as distribution or manufacturing, it is entirely possible.
Some lenders will charge a higher interest rate to someone with a low fico score or "bruised credit". They are not necessarily "predator lenders" but must take a higher risk than the bank. I am assuming that you are referring to real estate lending. There are private lenders, institutional lenders, mortgage brokers, and mortgage bankers. I would suggest you check with a member of NAMB. National Association of Mortgage Brokers. They are licensed in each State they operate in and also uphold their standards to the Mortgage Broker Code of Ethics. They are licensed and bonded. As far as consumer credit, auto loans, credit cards & payday loans, I am not qualified to answer
Bad credit pearonsl loans normally carry a higher rate of interest. This is because of the higher risk potential in such loans. One may also be overcharged on this account. The borrowers are asked to pay a hefty charge and have to face some inflexible terms of payment. Nevertheless, there are lenders who charge reasonably lower rates of interest