If you are a non homeowner loans, you may be losing not just on the permanent shelter, but also on matters of finance. Here we are referring to the bias that financial lenders have in advancing loans to you because you are a non homeowner. But if you really keep your eyes wide open to the changes that are taking place in the loans market, you must know of a significant shift among the lending policies. Non homeowner loans are not that difficult now to have.
Loans for homeowners are unsecured loans. Tenants, non homeowners, and even many people with homes are now opting for this type of loan. The reason is anyone’s guess. Yes, it’s too tough to take up the risk on ones home, and so it is non homeowner loans that are becoming popular; may be one of the reasons leading to the shift in lending policies.
Loans for homeowners are multi purpose loans, just as the secured loans. The lender will not ask you how you are going to spend the loan proceeds. Therefore, one can easily use the proceeds of the non homeowner loans to the education of his child, for his wedding expenditures, for purchasing a car and even for consolidating a number of debts. However a serious roadblock will be that the amount advanced under the non homeowner loans will be lesser; i.e. lesser as compared to secured loans. So decide about the use of loan keeping in mind the amount you qualify for.
Another roadblock would be the rate of interest. You have not secured the loan; this means lender is at a greater risk, and he charges borrower higher APR on non homeowner loans. However, one way to skip this obstacle is to have a perfect credit. Although lenders will be considering you for non homeowner loans even if you have bad credit
article source:http://www.articlealley.com/
.
Loans for homeowners are unsecured loans. Tenants, non homeowners, and even many people with homes are now opting for this type of loan. The reason is anyone’s guess. Yes, it’s too tough to take up the risk on ones home, and so it is non homeowner loans that are becoming popular; may be one of the reasons leading to the shift in lending policies.
Loans for homeowners are multi purpose loans, just as the secured loans. The lender will not ask you how you are going to spend the loan proceeds. Therefore, one can easily use the proceeds of the non homeowner loans to the education of his child, for his wedding expenditures, for purchasing a car and even for consolidating a number of debts. However a serious roadblock will be that the amount advanced under the non homeowner loans will be lesser; i.e. lesser as compared to secured loans. So decide about the use of loan keeping in mind the amount you qualify for.
Another roadblock would be the rate of interest. You have not secured the loan; this means lender is at a greater risk, and he charges borrower higher APR on non homeowner loans. However, one way to skip this obstacle is to have a perfect credit. Although lenders will be considering you for non homeowner loans even if you have bad credit
article source:http://www.articlealley.com/
.
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