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I want to buy a car, and am considering applying for a car loan.
What do lenders look for as a bare minimum to get a loan?

I have no possibilities for a co-signer, I have been in the same job for 3 years, so I have steady income, and I live at home so I don’t pay rent/mortgage.

Also, what lenders are usually more willing to give loans? Banks, credit unions, etc..?

Thanks!

Here are some factors that lenders consider: credit score, employment and proof of income, residential address, value of car to finance, length of terms, downpayment, current loan standings or recent credit records.

Since you have a steady job, a stable income and a house you fully owned, you can easily get a car loan. However, the amount they will lend to you and the annual percentage rate of interest they will impose will be affected by the factors i mentioned above.

Banks offer better interest rates and are more quick in their approval and release of loan amount. So, I would say, you check the banks first.

Ken

http://www.carbuyhelp.com

1-800-951-4714

I am looking for a home loan and I keep getting solicited by these online private lenders. Are they for real? Whats the deal?

No. It’s complicated but most of these so called private lenders are actually struggling brokers and not direct lenders at all. I’m a former credit analyst for a leasing bank. Just take my advice and don’t do mortgage deals with private lenders- most of the time they aren’t really scams but you will pay a huge commission over the course of payments.

Why does our government allow FHA lenders to debt virtually all those on SSI ?
Doesnt matter if you have thousand down for a down payment you still get denied.
2 minutes ago – 4 days left to answer.
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You cant even get into Detroit where you pay 3 grand down and pay 20 bucks a month ,they aint leaving the poor nothing all the good stuff will be solf to the capitialist hell the poor man has nothing out here and is sometimes better dead there isnt **** our here.

They deny anyone who has only $1000 for a downpayment. They are not discriminating against those on SSI. Everyone, whether on SSI or not, needs a much large downpayment to get any home loan.

I’m afraid of the lenders from the UK. They will take your money and not think twice about it. Why can’t US lenders offer those great loan deals?

because if the get caught they will go to jail where by it is harder to go after someone in any overseas country!!!

Is there an estimate of how many 5/6 lenders are operating in the philippines? Thanks!

there can be no specific answer as to statistics because anyone can become a 5/6 lender. it is not required to register a 5/6 business.

I am curious as to whether mortgage lenders have access to the balance on a lenders credit cards? I know they can access credit reports that inform them whether you have made any late payments but wanted to know if they have access to information to let them see how much you currently have borrowed on your credit cards? Same goes for current account balances?

yes

It is slightly urgent. No companies, just private lenders. I have a great job and I can pay it back quickly. E-mail me for more details on my situation and if you can help. Thank you.
If family or friends could help, then I would not be here. Any loan sharks out there?
If I had gold, I would. I don’t have any to sell.

Sorry, try to borrow it from a family member or a close friend.

I dont understand what the mortgage lenders issue is, the house has stood since 1950ish!! there is one wall that is single brick, i have had to get a quote to make the wall double brick! is it just me or are they being petty?

a single stack can fall away from the home if it was only stacked and not layed into the foundation like a rod and concrete would have been. Tell them it is attached to the wall on the inside by flat PCs of metal called lath stays. They lay on the brick between the next layer and come back and wrap around the stud on the inside wall.

This will Sufis if you have a inside wall on the home. To double the wall you should take it down and build in a new interior wall and add a single wall outside if not their. but add space into the home when you do it too. So get a remodeling company to give you a est. of cost and summit it to the mortgage company with you app for the loan. Let then put it into the loan!

I visited a car dealer back in September as I wanted to trade in my current vehicle. After some back and forth negotiation I decided to back out of the deal. They however kept contacting lenders to get me financing. My credit is not good right now and I am still receiving letters from different places declining me for financing. How can I stop this?? All these credit inquiries are just making my credit score even go lower. If anyone out there knows please suggest!! Thanks.

well…several things here…i have been in the auto industry for years…and now own a training firm for car dealerships in special finance so I have extensive knowledge about what you are talking about. First there are laws that state that anyone they send it to within 30 days they have to send you an "adverse action letter" explaining why they turned you down and how to contact the bureau used in determining that. Secondly they have 30 days to do so so they may "filter" in not all come at once. Dealers don’t have time or desire to send your information out after you backed out. It is doubtful they are doing anything maliciously. Lastly, and let me be very clear on this….this is not hurting your credit. It takes a lot of pulls from different credit areas i.e…auto, mortgage, credit card, etc….all simultaneously. A few pulls from auto lenders will not hurt your score…as a matter of fact a lot of pulls from auto lenders will not hurt your score so long as it is not coupled with pulls from other industries….

So my advice, take a deep breath and work on repairing your credit without the worry that they are destroying it.

The money would include the mortgage balance, fees, and any other costs associated with the foreclosure. Is it a general practice for lenders to seek money from borrowers if the home sells at auction and the lenders not getting their full asking price that would recoup their potential loss?

Yes, of course. They are legally obligated to protect their investors interest and recover the money. Those people took cash money and spent it on a house, they still need to return the money, it belongs to the banks investors.