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What else can I help you with?
Why is a persons marital status relevant when applying for a loan?
Marital status gives a lender information about a person applying for a loan. It gives them insights, coupled with other information provided, into ability to repay the loan, additional sources of income, stability of individual, etc.
Can you pay back a loan with the loan money?
No, you cannot pay back a loan with the same loan money.
What is the qualification to apply for a loan?
Generally, your ability to repay the loan must be demonstrated.
Will cosigning a loan effect your ability to get a loan?
Yes, it will affect your debt to income ratio.
Will it affect your ability to get a loan if you cosigned for someone else?
Be very cautious about co-signing for a loan. If the primary borrower defaults, you are responsible for the loan payment. It also may affect your ability to get a loan if your debt to income ratio is already high.
What is the measure of a person's ability to pay back a loan?
a can
How often to people receive pay day loans?
Usage of pay day loans depends on a persons needs and ability to pay the loan back. Pay day loans are dangerous territory and should only be used in case of an emergency.
Why is a persons marital status relevant when applying for a loan?
Marital status gives a lender information about a person applying for a loan. It gives them insights, coupled with other information provided, into ability to repay the loan, additional sources of income, stability of individual, etc.
Can you pay back a loan with the loan money?
No, you cannot pay back a loan with the same loan money.
How is interest coverage used?
Interest coverages is basically a person or company's ability to pay back a loan and the interest on it. Interest coverage is used to see if a person or company is a good risk for a loan.
Can you change your loan from a hard money loan back to a convetional loan?
refinance the hard money loan back to a conventional bank loan
What is the qualification to apply for a loan?
Generally, your ability to repay the loan must be demonstrated.
Why would the bank want to know the persons income before granting a loan?
They would want to know how much you make, so that they can figure out if you'll be able to pay it back or not.
If vehicle was purchased months before a persons death and that persons name is on the loan how does the surviving spouse get rid of vehicle and debt do you take back to deal?
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What is it called when you don't pay back a loan?
Failing to pay back a loan is called defaulting on the loan.
Will cosigning a loan effect your ability to get a loan?
Yes, it will affect your debt to income ratio.
Can you get a car loan with no income?
Unlikely. People would question your ability to repay the loan.
