|
Signature
loan
Click
here for a signature loan
Author:
Bob Buckham
Web Site: http://www.best-choice-loans.com
Signature
Loans: Available, but not as common as before
In
years gone by it would not be uncommon for a client to walk into their
local bank and ask to borrow a couple of hundred dollars for a house
repair. The bank manager would commonly give the client the money based
on their 'character' or 'signature', which is where the term signature
loan comes from. We now call this type of loan an unsecured loan.
(Other great articles on the
topic of best
home equity loan rate and real
estate mortgage show how our lenders can get you the loan you
need. More info can be found at personal
loan with bad credit, online
mortgage and no
equity loan).
A
signature personal
loan is a loan where the borrower does not have to put up any
collateral to back the loan. The lending institution simply lends the
borrower the money on the pretense that the borrower has good character
or a previously good borrowing record, and trusts that they will be
repaid as per the loan agreement.
In
many cases today, the number one type of unsecured credit is in the form
of credit cards. But signature loans are still out there at banks and
credit unions for people with a sudden need for money and a clean credit
history, established employment and residency, and a low debt-to-income
ratio. They are sometimes even there for a friendly local face the bank
manager knows and just plain trusts.
And
a signature loan is also available for you on the Internet.
|
