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How To Pay For Home Repairs

Home RepairsWhen you become a homeowner, you also become a home renovator. No matter what home you purchase, there always seems to be a project or two that you will undertake to improve upon your home. The improvement may be an upgrade of a kitchen or remodeling a living area or bathroom. Whatever the project, there will come a discussion of how to pay for it all.

 

There are several options when it comes to financing a home renovation. One is to have saved and pay for the entire project at once. This is unlikely in most cases and, as a result, most will look to borrow. There are home equity loans and other types of personal loans that homeowners may be able to secure. Those types of more traditional loans have stringent qualifications and are not available to everyone. A bank will want to know exactly what the money is for and will require mounds of paperwork before it even thinks about approving someone for any loan.

 

For those who have a less than respectable credit history, traditional borrowing is difficult. If you own a vehicle, though, you may be in luck. While not as well-known as conventional loans, a car title loan is an option for those who own a vehicle with a clear title and have a poor credit history. A car title loan works just like any other loan except the amount that can be borrowed is dependent upon the value of the vehicle a person uses for collateral.

 

Potential borrowers who own a vehicle with a clear title and have an interest in obtaining quick, easy cash to pay for their home renovations can fill out an application with a title loan company. At Embassy Loans, a Florida-based lender, applicants can fill out an application online or at any one of their convenient locations. When finished, applicants must provide a few forms of documentation like a photo ID, proof of residency, and the vehicle’s title.

 

Embassy Loans, like other title loan companies, will verify a borrower’s identity and residency and then make sure that the title matches the car to be used as collateral. The car is then assessed for its value. This is important because it determines how much can be borrowed. When the value of the car or truck is established, the terms of the loan can be finished and a borrower can receive his or her money. The entire process normally takes an hour. There are no lengthy credit checks or other paperwork and borrowers can have access to the cash they need to pay for their home renovations.



Embassy Loans is a leading provider of auto title loans since 2005

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Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Monthly Interest Rates range from 1.5% to 2.5% (18% to 30% APR), with 15-18 Month Terms.

No Prepayment Penalties!

Embassy Loans uses “Title Loans” for advertisement purposes only and provides auto equity loans. Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

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Frequently Asked Questions

What is an Auto Equity Loan?

An auto equity loan, sometimes known as a car title loan or a car equity loan, is a type of loan that allows you to borrow money by using your vehicle as collateral. The loan is secured by your vehicle, meaning you agree to use the equity in your car to back the loan. 

What is an Unsecured Personal Loan

An unsecured personal loan is a loan that does not require collateral. Funds are provided based on your credit worthiness and your ability to repay. 

What Is the Credit Builder Program

The credit builder program is designed to help individuals establish or improve their credit score with the primary purpose of building a positive credit history through regular payments.

Can i have more than one Loan at a time?

Embassy Loans can only extend one loan at a time and it’s advisable to start with one and focus on making payments in a timely manner to prevent default.

What happens if I miss a payment?

Missing a payment can have negative consequences, including late fees, a drop in your credit score, and potential default on the loan. Consistent, on-time payments are crucial to benefit from the program.