What Is the Difference Between APR, Interest Rate, and Finance Charge?
Key takeaways The interest rate is the annual cost of borrowing, expressed as a percentage. It generally excludes loan fees or other charges. The APR is the interest rate plus loan fees, providing a combined total of the annual borrowing cost. The finance charge combines the interest rate and loan fees over the life of […]
What Do You Need to Apply for a Personal Loan?
Key takeaways Most lenders require a government-issued photo ID, your Social Security number or ITIN, proof of address, and proof of income to begin a personal loan application. If you’re self-employed, you may be able to use tax returns, bank statements, or other business records instead of pay stubs. You can apply online, by phone, […]
From Tandem Passenger to Skydiver
Sally Palermo had always dreamed of becoming a certified solo skydiver, but the cost made it difficult to turn that dream into reality. “Through the training, jumps, certifications, the licensing, the gear, it costs thousands of dollars,” she says. An offer for a personal loan through Mariner Finance had arrived in her mailbox, but she […]
Understanding Soft Credit Checks
A soft credit check, also called a soft pull or soft inquiry, is a review of your credit report that does not impact your credit score. Soft pulls are often conducted for everyday purposes like pre-employment screening, obtaining insurance quotes, issuance by lenders of preapproved loan offers, etc. The soft pulls are often tied to […]
Spring Home Projects on a Budget
Spring is a time to finally move forward on the things you’ve been planning. If a big goal has been waiting on “the right moment,” a personal loan could help you take that next step. The money can be used to tackle home repairs, consolidate higher-interest debt, cover unexpected expenses, or pay for a major […]
What to Expect When Applying for a Personal Loan Online
Whether you apply online, by phone, or in-person, the requirements to apply for a personal loan are often similar. But approval criteria may vary from institution to institution and, depending on the lender, you could be approved either in person or online. To qualify, you must be 18 years or older and will likely be […]
Covering Unexpected Wedding Costs
With multitudes of vendors, an ever-changing guest list, and venues dependent on good weather, what could possibly go wrong at a wedding? If you are making plans for what could be one of the most important days of your life, expecting the unexpected is a good rule of thumb. Having funds available to cover those […]
What to Look for to Avoid Loan Scams
Following financial best practices will help you avoid common loan scams.
What’s the Difference Between a Personal Loan and a Line of Credit?
There are two common ways to borrow money: take out a personal loan or open a personal line of credit. With a personal loan, you are provided a lump sum of money and then required to pay fixed monthly payments. On the other hand, with a line of credit, you are provided access to a […]
What to Expect When Working with a Personal Loan Lender
Are you in the market for a personal loan? Here is what to expect from a personal loan lender.
Understanding Your Credit Score: Here’s What to Know
Your credit score is a factor when you apply for a mortgage or car loan. It can be pulled when you apply to lease a new apartment. Even insurance companies typically check your credit score to help determine how much they might charge you for your premium. But what is your credit score? How does […]
Personal Loans Vs. Auto Loans: Everything You Need to Know About Your Options
Debt in the United States has grown by almost 20% in the last decade, and personal and auto loans – two of the most common loan options – continue to grow. Americans currently hold $305 billion in personal loans and $1.2 trillion in auto loans. So which among these popular loan options is best for […]