Posted on: 14th Nov, 2008 10:41 am
We own our home free and clear. And now we would like to to take out
a small loan....the smallest we can get is 50000, if we get the 50000 we plan on giving the lender back a large portion of the loan. Basically we really only wanted 15000, but were not able to get because of credit issues.
Can U please tell me if this the best way to go for our situation?
Thanks
Janette
a small loan....the smallest we can get is 50000, if we get the 50000 we plan on giving the lender back a large portion of the loan. Basically we really only wanted 15000, but were not able to get because of credit issues.
Can U please tell me if this the best way to go for our situation?
Thanks
Janette
Hi Janette!
Have you consulted other lenders? I think you should consult a few more lenders and check if anyone of them is giving you a loan of 15,000. You may also approach a broker because the brokers have contacts with a large number of lenders.
This community also has a number of lenders. You can consult them and seek a no-obligation free mortgage consultation.
Thanks
Have you consulted other lenders? I think you should consult a few more lenders and check if anyone of them is giving you a loan of 15,000. You may also approach a broker because the brokers have contacts with a large number of lenders.
This community also has a number of lenders. You can consult them and seek a no-obligation free mortgage consultation.
Thanks
That doesn't make sense. You won't qualify for a $15,000 loan, only a $50,000 loan? The broker makes his money on a percentage commission. I would check with other lenders/brokers.
