Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


When and How to Shop for a Loan

Written by: John Mussi

If you're thinking of getting a loan but aren't exactly sure whether the current loan market is likely to produce a good interest rate, you might want to do a little bit of basic research into the interest rates that are offered both locally and nationally, as well as the various loan rates that are offered by different banks and lenders in your local area.

Below are some suggestions for how to tell whether or not the time is right for you to apply for a loan, as well as tips on how to shop around so as to find the best loan that you can get.

Researching national rates

The first thing that you need to do when trying to determine whether the time is right to apply for a loan is to do a little bit of research so as to find out what the base national interest rate is.

The interest rates that are set nationally are the basis for all interest rates, though some cities and localities may increase their rates from that point.

It's also a good idea to find out what the most recent changes in national interest rates have been, and whether there has been an increase or a decline as the rates change.

Anticipating rate changes

During your research of national interest rates it would be advisable to look for signs that the interest rate might be changing in the near future. These changes are often anticipated well in advance, and information about potential changes can often be found in financial journals, tabloids, and newspapers before the actual changes are announced.

If you find information that shows an interest rate increase is on its way, then you would be best served to get a loan before the increase... however, if you find that interest rates are going to be lowering in the near future then you might do better to wait until the rates go down so that you can save a little bit of money on interest.

If you find that there isn't any pending rate change in the near future then you'll likely do just as well shopping for a loan now as you would if you decide to wait.

Credit and collateral Of course, there are other factors that can influence the amount that you pay for your loan aside from simply the base interest rates.

Two of the most important of these factors are your credit score and the collateral that you have to secure the loan... after all, these are what the bank or lender are going to look at to determine whether to approve you for the loan and what interest rate to set for your payments.

Your credit score tells the potential lender whether you've had problems repaying your debts in the past, and the collateral that you use guarantees that they'll get their money back even if you default on the loan.

Using high value collateral that has an easily-accessible market (such as an automobile or real estate) can generally make a difference in cases where your credit is less than perfect.

Shopping for the best loan

Finally, it's important to shop around for the best deal on a loan instead of simply accepting the first loan offer that you receive.

By requesting quotes from a variety of banks, online lenders, and finance companies you should be able to determine which lender is willing to offer you the best rates, and find the right loan for the right price.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:
About the Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.


Other Related Articles:


Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/rliu008/public_html/redhotloantips.com/rotator.php on line 7

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/rliu008/public_html/redhotloantips.com/rotator.php on line 7
Home Improvement Loans
Once you own a home, you'll get the urge to make home improvements. Often, you'll need a home improvement loan. Home Improvement Loans Whether you've lived in a home for years or just purchased it, you'll get the urge to make...read more

Interest Only Loans
These days, as people scramble for new and more creative ways to finance buying a home, the interest only mortgage is becoming more common and well known. An interest only mortgage is one in which you have the option of paying only the interest (or...read more

No Money Down Loans
You want to buy a home but you do not have money for a down payment or for closing costs? Well, just forget it. At least that is what you have probably been told by people who think they know what they are talking about, but simply do not. ...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map