Installment loans are a versatile and simple way to finance your dreams.
Installment payment loans are a type of old-style loan from the good old days. Back when your washing machine had hands, installment loans were the norm.
Based on a simple formula, this is the type of loan that has a short contract and no fine print. True installment loans tend to have fixed interest rates and always have fixed payments. Now, though, the term “installment loans” has been perverted by payday loan companies, often referring to extremely high credit loans.
A “true” installment loan goes something like this: You agree to borrow $10, 000 from a lender at, say, 5% interest per year spread out over 5 years. You will end up paying back an additional $2727.20 at $106.06/month. Now however, honest, upfront lenders like this are hard to come across.
Since this is Texas Loan Finder’s most highly recommended loan type, we search to find you the best quality installment loans and lenders that will provide them.
Here at Find Texas Loans, we recommend you not fill out loan applications unless you have been well informed over your chances. You might not know, but simply applying for a loan hurts your FICO credit score; for this reason, we recommend you read as many postings as you can on our main page to see how other people like you have succeeded or failed in obtaining financing.
Most fixed term mortgages are actually installment payment loans. The length of the term and the sheer amount of money borrowed is the only things really setting them aside from a traditional loan. The vast majority of people have had a traditional mortgage in their lives, and that’s partly because it is a very honest way to borrow money.
There are many lenders which will provide applicants with honest installment payment loans. See our main page to read the sagas of our satisfied clients. In many situations, clients are loaded to the breaking point with debt and possess very bad credit scores. We have helped these people to reduce their debt through several innovative methods. These include debt-snowballing, loans to consolidate debt, and more. Talk to us before going to the banks, we aim to help you.