The Type of Loan You Need
Don’t just settle for the first available loan you qualify for. Talk to other lenders and choose a loan that meets your needs and your budget. Be sure to note that while some may have higher interest rates, others may make up for lower interest rates with higher fees.
Before you know what you want, you have to figure out what you need. Review your budget and determine exactly how much you can afford to pay off. If you are using the loan to pay off debt, review your credit report to figure out how much you owe each of your debtors. You should also think about whether you prefer a fixed rate or a variable rate, as well as how long you think it will take you to pay off the loan.
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