Non Homeowner Loans -Who Said Collateral is a Must

by Steve C clark - Date: 2007-02-10 - Word Count: 452 Share This!

If you are a non homeowner, you may be losing not just on the permanent shelter, but also on matters of finance. Here we are referring to the bias that financial lenders have in advancing loans to you because you are a non homeowner. But if you really keep your eyes wide open to the changes that are taking place in the loans market, you must know of a significant shift among the lending policies. Non homeowner loans are not that difficult now to have.

Non homeowner loans are unsecured loans. Tenants, non homeowners, and even many people with homes are now opting for this type of loan. The reason is anyone's guess. Yes, it's too tough to take up the risk on ones home, and so it is non homeowner loans that are becoming popular; may be one of the reasons leading to the shift in lending policies.

non homeowner loanstoo are multi purpose loans, just as the secured loans. The lender will not ask you how you are going to spend the loan proceeds. Therefore, one can easily use the proceeds of the non homeowner loans to the education of his child, for his wedding expenditures, for purchasing a car and even for consolidating a number of debts. However a serious roadblock will be that the amount advanced under the non homeowner loans will be lesser; i.e. lesser as compared to secured loans. So decide about the use of loan keeping in mind the amount you qualify for.

Another roadblock would be the rate of interest. You have not secured the loan; this means lender is at a greater risk, and he charges borrower higher APR on non homeowner loans. However, one way to skip this obstacle is to have a perfect credit. Although lenders will be considering you for non homeowner loans even if you have bad credit.

The best place to search for non homeowner loans is the internet. Online lenders have a more liberal outlook towards tenants, bad credit and similar biased borrowers. If you approach a conventional lender with a similar loan request, chances are strong that you will be refused. This is apart from the time and efforts that you put to visiting lender in person. With an online lender, you can complete the application from your home only. Today many people are resorting to this new form of loan. And many of them are content with the non homeowner loans.

Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you rejuvenate your money.To find Secured homeowner loans,bad credit homeowner loans,online homeowner loans visit

Related Tags: secured homeowner loans, bad credit homeowner loans, online homeowner loans, non homeowner loans

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