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What is a Secured Loan? Application Process Online Secured Loans Ask for a Quote
Secured Loans for Bad Credit Secured Loans for Debt Consolidation  

Secured Loans for Refinancing Homes  Secured Mortgage in the UK FAQ: Secured Loans

 

1. Am I eligible for a secured loan if I have bad credit?

Yes, persons with adverse credit histories may be eligible for secured loans if they have something to secure the loan with, such as a valuable item like a home, or other property or investments equal to the amount of the loan.

2. What documents do I need to apply for a secured loan?

The documentation needed for a secured loan would be employment proof or proof of monetary income through whatever means the individual or couple make their living, proof of debts versus monthly income, history of debts paid, and any other documents the institution sees fit to ask for. They will usually provide a list before the potential applicant fills out any forms.

3. How will a home equity loan affect my credit?

An equity loan uses the accumulated worth of an individual's home as a guarantee that the loan will be paid and if it isn't the home will be confiscated on behalf of the lending institution.

4. Are online lenders safe?

Some online lenders are safe, and some may not be. It is best, before committing to any one lender, to do research on any institution before signing any contract. Some online lenders are backed by well known institutions and would therefore be safe to do business with. It is in the best interest of any individual interested in obtaining funds to research any lender thoroughly.

5. I would like to consolidate my debt with a secured loan. How do I do this?

Secured loan debt consolidations may be had by applying with a lending institution and having a valuable asset, such as a house or other valuable item, as collateral that has an equal to or above value to the amount of the loan being asked for.

 

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