I need money. How to apply for a loan? Dreaming does not cost … and having what you dream costs less and less … that is why there is credit.
You do not have to be afraid to talk to the Banks, but it’s important to know how.
- CLEARLY IDENTIFY THE OBJECTIVE FOR WHICH YOU NEED MONEY
Banks lend you money but you have to justify what you need the money for.
Some products that banks usually finance:
• Personal formation
• Household appliances
- WHAT TYPE OF CREDIT CAN YOU ASK FOR
There are two major types of credit:
• Consumer credit or personal
It is intended for goods with a medium / short life, for example: a car, a computer or your course (medium / short term).
• Mortgage loans
The credit housing is for goods with a long life, such as a house. The payment term is usually over 20 years (long term).
Consumer lending rates are higher than mortgage lending rates – because housing lending always has a real guarantee (the house), in case you can’t pay the credit, whereas personal lending in principle does not have.
- WHAT CONCEPTS AND CONDITIONS ASSOCIATED WITH THE CREDIT ARE IMPORTANT TO HAVE
• The role of the Bank is not to buy the good for you, it only lends the amount you need;
• After the Bank lends you the money, you have to repay it in full plus interest (the amount you have to pay the Banks for them to lend you money), within the agreed payment term; • In connection with the need to guarantee the payment of the clients’ debt, the Bank guarantees the loan after having a life insurance;
• The Banks will also charge you a commission to analyze your request or to evaluate your home;
• In summary, you will pay each month a benefit. This payment is the set of the return of part of the capital loan and all the costs mentioned above (interest rate, spread, insurance and process costs);
• You can choose a period of capital shortage (in particular in Housing Credit), during which, you will only pay interest on the loan in question;
• During the life of your loan, you can pay your debt more quickly if you want.
• However, if you decide to repay the debt in advance, you may incur an additional commission on the amortized amount because the interest rate and the payment plan were established based on the initial term and amount.
- HOW TO GET GOOD CREDIT CONDITIONS
• Choose three or four banks to compare payment terms and fees associated with credit, you might need to consider same day loans bad credit no guarantor;
• You should note special credits that may exist, such as car loans, because sometimes they have better conditions and may be on the promotion side;
• When you have an idea of the conditions that the banks offer you try to negotiate your credit taking into account the following factors:
– Relationship with the Bank: The more products you have in a Bank, the lower your interest rate;
– Guarantee: Try to have someone to take responsibility in case you can’t pay your debt (guarantor);
– Payment term: The longer the loan repayment term, the lower the loan will be;
– Loan Amount: The lower the amount you ask for the value of the asset you want to buy, the lower the benefit.