You can also suggest good lendersI'm going for a personal loan,can you please advice me as to what I should know %26amp; what to expect before I go?
high interest rates!!
Personal loans are typically higher interest than a loan with a purpose, like mortgage, auto, or education. I would actually avoid it if possible. If you do get it, make sure it's fixed rate.I'm going for a personal loan,can you please advice me as to what I should know %26amp; what to expect before I go?
There is some useful advice here.
Have some collateral or good credit.
Read the contract carefully.
Before you go you should get a credit report on yourself from one of the three credit agencies. In many states you can get this free, one time per year. Your credit report will give you your score, which lenders use to determine whether they will give you a loan and how good the rate will be. It will also allow you to see if there are any areas you can correct or clean up to improve your score. Without this info, you are at the mercy of the loan officer.
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