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Signature Loans


Signature loans are a great alternative to refinancing your mortgage or taking out a home equity line of credit. Signature loans are based on a borrowers credit score and income and do not require the borrower to pledge collateral such as a house to qualify for. Most lenders can approve a signature loan in as little as twenty four hours. Signature loans generally have terms that range between three and ten years. The interest on a signature loan is not likely to be tax deductible unless the borrower is using the money for a business. If you own your own business and you are applying for a signature loan then you should consult your tax advisor to find out if a signature loan would be included in any potential tax deductions you may apply for. Signature loans are generally for borrowers with good to excellent credit scores that range from 620 to 740 and above. Some banks will take into consideration your banking relationship with them when they underwrite your loan. Signature loans are not offered by every bank or lender, but most large national banks and credit unions offer signature loans. You may want to find out what the banks requirements are for approving a signature loan prior to officially apply for a new loan. 

Signature loans can be used for a variety of purposes including debt consolidation, starting a new business, home remodeling or planning a dream wedding or vacation. Signature loans are great alternatives to financing without using a credit card as they have fixed rates and loan terms.



signature loans @ loannetwork.com