Looking for a Loan? 9 Tips to Prepare You

What should you as a borrower do to be prepared when approaching a lender? If you can respond to the nine questions listed below and provide support for your answers, you will have gone a long way toward being adequately prepared to take on a loan.

1) How much money are you going to need?
2) What is the money going to be used for?
3) How will the loan affect your financial position?
4) How will you secure the loan?
5) How will you repay the loan?
6) When will the money be needed?
7) Are your projections reasonable & supported by historical information?
8) How will alternative possible outcomes affect your repayment ability?
9) How will you repay the loan if the first repayment plan fails?

If you have questions about our loan products, please call us. Every situation is unique, so we will take the time to assess your situation. Interested in getting started? Check out our online "Mortgage Center." There is no commitment to enter your anticipated need. As always, we welcome face-to-face communication. Call our office to set up an appointment with our experienced loan officers.