by crispin0 | Jul 27, 2025 | Uncategorized
A credit score is a numerical representation of a borrower’s creditworthiness, based on their credit history. It is used by lenders to evaluate the likelihood that the borrower will repay the loan. Scores range from poor to excellent, with higher scores indicating...
by crispin0 | Jul 24, 2025 | Uncategorized
The loan term refers to the period during which the borrower must repay the loan in full. It can range from a few days to several years. Loan terms impact the interest rate and monthly repayment amount.
by crispin0 | Jul 21, 2025 | Uncategorized
A secured loan requires the borrower to pledge an asset (e.g., a car or home) as collateral to back the loan. If the borrower defaults, the lender can seize the collateral to recover their loss. These loans usually offer lower interest rates due to reduced risk for...
by crispin0 | Jul 18, 2025 | Uncategorized
A loan application is a formal request submitted by an individual or business to a lending institution for financial assistance. This request typically requires personal details, credit information, income verification, and other supporting documents. The lending...
by crispin0 | Jul 13, 2025 | Uncategorized
A cosigner is someone who agrees to take responsibility for a loan if the borrower defaults. A cosigner with good credit can help a borrower secure a loan with better terms or approval if the borrower has limited credit history.
by crispin0 | Jul 5, 2025 | Uncategorized
A credit check is the process of reviewing the borrower’s credit history to assess their creditworthiness. Loan apps often perform a soft or hard credit check to decide whether to approve the loan and set terms.
