We want to help you make the right decision in the loan jungle, find tips & advice for a successful loan with us! There are plenty of services where you as a borrower can compare all types of lenders. Everything from sms loans and private loans to mortgages. This means that you as a borrower can both find the cheapest loan for you but also ensure that your lender is a serious player.
Borrowing money and taking credit is not risk-free. It must always be assumed that loans are linked to interest and fees that must also be paid in connection with the repayment, ie the repayment of the loans. Some lenders may charge very high interest rates and fees while other lenders charge less in fees and have lower interest rates. You should always study and analyze the interest rate requirements and fees that the lenders charge, as there is a great risk that you as a borrower may end up in a financial predicament if the lender has uncertain terms. This is especially true in the case of loans with short credits, called fast loans without direct collateral. Then you have a shorter repayment period and you have to manage to pay the cost of these loans on time. Otherwise it will be very expensive.
Getting into a payment carousel with expensive reminder fees and penalty fees that top the already high interest rates and lender fees can be difficult to get out of if you already have small margins.
How much money can you borrow?
It depends entirely on the type of loan you are considering, what financial status you have and what the money should be used for. Here are examples of different loans as well as guidelines on what loan conditions they have:
- Mortgages can consist of a single mortgage loan or a top loan and a mortgage loan. No matter what type of mortgage you take, you can borrow up to 85% of what the house costs. Mortgages usually have very favorable interest rates, if you want to know more about interest rates.
- How much you can borrow through quick loans differs greatly depending on the lender you choose. If you look at the average, the ceiling for quick loans usually lies around USD 150,000, however, there are lenders offering more.
Borrowing money vs credit cards?
Are you wondering if you should try to borrow money through a private loan or if you should order a credit card? Which is best really? We look at the pros and cons of credit cards and private loans and compare them. Before applying for a loan or credit card, you should know what you need the credit for and the extent to which you intend to repay the loan. In general, there is a simple rule to consider:
- If you are going to spend a relatively large sum on buying something that you cannot repay quickly then it is normally way better to take a private loan than a credit card.
The reason is that you almost always get better interest rates on a private loan than you get on a credit card. A credit card is only interest-free until the first payment, then the interest runs. The benefits of a credit card are that it offers great flexibility and that you can actually save money by using a credit card if you are structured. The advantage of credit cards is that they usually have bonus systems.