Question

how to apply for a loan

Answer 1

Hola your ans is Step 1: Check Your CreditAs you begin the unsecured personal loan process, you’re going to want to check your credit and credit history. That’s because, whether or not you qualify for a personal loan will depend upon your creditworthiness. The interest rate you will be charged also will rely on where your credit stands.You can start reviewing your credit by checking your credit score. You canget two free credit scoresat Credit.com. And if you haven’t checked your credit reports lately, you can request free copies of your credit reports from the three major credit bureaus through AnnualCreditReport.com. Review the content of yourreports carefully and correct errors before shopping for a loan.Step 2: Research Before You ApplyEvery time you apply for a personal loan, it triggers an inquiry into your credit, and this nudges down your credit score a little bit. It’s a promising idea be selective and apply only for loans that you actually qualify for.You can ask lenders in advance about the minimum credit score thatthey require for personal loans. Some lenders will even list this information on their websites.Step 3: Get Everything You Need for the Loan ApplicationIn addition to checking your credit score, a potential lender will want to ascertain your annual income as well as your debt-to-income ratio.Other details you are likelyto have to share on a loan application include your monthly housing payment, whether you rentor own your primary residence, the name of your employer and how long you’ve worked there.Having this information at the ready can help to speed up the process of applying for a personal loan, whether in person or online.Step 4: Start LocalA good place to begin your search for a personal loan is with your local bank or credit union. It’s a good idea to research the credit criteria required for personal loans before you apply. Check your bank or credit union’s website or call their customer service. You may even want to make an appointment with a loan officer to discuss options.Applying for a loan with anonline lender is also an option. You can research loan options on Credit.com at your convenience, 24 hours a day.