There are many and different motivations that lead a person to request a bank loan, from paying debts to a family trip, going through the intention of making an investment. We are offering you the following questions that you should ask yourself before applying for a bank loan like a printable amortization schedule with extra payments using our calculator.
How do thecredit bureaus view you?
Before applying for a loan, the debtor must consider his condition before the credit bureaus, many times and without knowing it, the rating is not what was expected and that undoubtedly affects the granting of some resource, generally, the bad grades can be explained by means of safeguards, otherwise, the probability that the loan will be denied is very high.
Are you confident about the amortization schedule?
The amortization schedule must be calculated with perfection to ensure proper repayment of the loan. You will be confident if you use our printable amortization schedule with extra payments calculator.
How much do you have to pay for insurance?
It is important to know that all debt acquired with the financial sector must be insured, it is likely that calamities such as death, earthquakes, fires, and others may occur, so each bank offers its policies through its own insurance brokers, however, Every client can quote his policy with his personal agent with the sole condition that this has the bank as beneficiary, this will surely reduce the amounts to be paid.
Fixed or Variable Rate?
The suggestion to solve this concern is to check how high the interest rates are; in case they are high and your debt is necessary, look for a variable rate. Rates are very likely to stop rising; As soon as they fall, ask them to buy the portfolio and acquire a new credit with a fixed rate, that way you will be calm while you finish paying the amount you owe.