What is a good interest rate for a personal loan?

August 20, 2010 · Posted in Qualify For Loans · 34 Comments 

I took out a $4,000 personal loan from a credit union. It’s a five year loan and the interest rate is 9.9%. Is this a good deal? I have excellent credit, I have never been late on any payments and I have already paid one student loan bill in full.

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    What credit score is need to qualify for a home loan?

    June 29, 2010 · Posted in Qualify For A Mortgage · 9 Comments 

    What credit score do I need to qualify for a loan at all, not necessarily a loan with a great interest rate? Due to some student loan problems over the past year, my credit score has plummeted into the 500s from around 700. I earn 6 figures and I have very little debt, so that should look ok to lenders. I’m just wondering what my credit score needs to be before I can even consider applying for a mortgage.

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    Could I rebuild my credit without getting a car loan?

    June 1, 2010 · Posted in Qualify For Loans · 7 Comments 

    If I file for bankruptcy, would I be able to rebuild my credit without getting a car loan? I want to purchase a car without a loan so I can just get liability insurance. I have a student loan and two credit cards that I’m planning to keep to help rebuild my credit. Will this get me to a credit score of 700+ after 2-3 years of paying on time?


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      Getting a personal loan with no credit

      May 30, 2010 · Posted in Qualify For Loans · 9 Comments 

      I am 18, just getting prepared to go to college, and I have no credit at all. I don’t need a student loan because my dad is paying for my school. However, my boyfriend and I live together and we just bought $1500 worth of furniture from his brother. We were supposed to stick to a payment plan since we don’t have a huge income, but his brother wants the money now. My boyfriend is just going through bankruptcy so he can’t get a loan. How can I go about getting a personal loan to pay them off? We are both employed so I am not worried about making payments, but I am clueless about how to even get a loan.


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      If I pay off my student loan with a personal loan would the interest still be exempt from taxes?

      April 29, 2010 · Posted in Qualify For Loans · 3 Comments 

      I had a federal student loan which I consolidated about 8 years ago with a company that eventually sold the loan to Citibank. The interest rate is 8.35% . I am considering paying off that student loan with a personal loan with a better interest rate. If I do this will I still be able to write off the interest I pay on my taxes?


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