There are few things as financially stressful as emergency home renovations. Whether you find yourself having to replace a basement-worth of drywall, replace expensive home appliances, or need to add another bedroom, what you have to pay out of pocket may be too much for your wallet to handle. A simple and practical solution to this is an unsecured personal loan from Lendah. An unsecured loan doesn’t require collateral, nor is it placed against the value of your home. All you have to do is apply with Lendah and we can find the right unsecured loan for your financial needs.
Is it Difficult to Obtain an Unsecured Loan?
What sets an unsecured loan apart from the other types of loans available is the fact that they don’t rely on collateral and solely on the borrower’s creditworthiness. WallStreetMojo describes the process: “Financial lending is endowed with the default risk. The lender can recover the borrowed sum in a secured loan by selling the borrower’s pledged borrowing, but an unsecured loan has no such facility. Therefore, a person with low creditworthiness will not receive the loan in most cases due to high chances of default.” Lenders will look at your credit score and credit history to determine if you qualify for an unsecured loan. However, having a bad credit score doesn’t automatically disqualify you from approval. Lendah is unique because we work with over 30 lenders to custom fit a loan program just for you.
Low Interest Loans to Keep Your Costs Down
Whether you need to borrow $2,000 or $25,000 for your home renovation, Lendah will work to secure the lowest interest rate possible on your loan. In some cases, we have been able to secure a rate as low as 5.99%. With lower interest rates, you will be able to pay the loan off quicker and save money as you pay off your loan. Learn how you can receive pre-approval for up to $35,000 from Lendah by visiting our Unsecured Loans page.
Access Emergency Funds Without Damaging your Credit Score.
Unsecured loans can also help you build your credit score while you’re funding your home renovations. With consistent payments and without defaulting on your unsecured loan, you will be able to steadily improve your creditworthiness as time goes on. It may not be what you expected, but an unsecured loan can do a lot more than help you pay for big ticket items and extensive home repairs. Learn more about unsecured loans by reading this blog post.
If you need help finding the funds for your home renovation, team up with Lendah and find an unsecured loan that works for you. Get started today on our website. Prefer to talk in person? Call us at 833-453-6324 and we’ll get you connected immediately with one of our loan experts.