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Easier Lending In 2015

easierFinally, 2015 will mark the first year in a long time that borrowers will find it a little easier to obtain a loan. For the past several years, financial institutions have tightened their lending standards due to the after effects of the financial crisis that began in 2008. Now, many of those restrictions have been eased somewhat as we head into 2015.

Those who are looking to purchase a home will find the timing just right. Interest rates are still at historically low levels and home prices are still enticing enough to call it a buyer’s market. Banks and other financial institutions are now a little more willing to make those purchases happen.

Lenders have relaxed some of their criteria including down payment requirements on home purchases. Many lenders would only loan to those borrowers who met their requirements and also had the resources to put 20 percent of the purchase price as a down payment. Many mortgage lenders are now able to complete loans with just 3 percent down. Easing the down payment requirement makes it much easier on many people who are trying to buy a home.

Even as traditional lending makes a comeback, there are still other types of loans that are easy to obtain. For those who have poor credit but have a stable form of employment, there are payday loans. These loans are normally for just a few hundred dollars and are for a short term, normally two weeks. A person signs over a check to the lender for the loan amount plus fees. If the borrower does not repay the loan, the lender cashes the check to recover any losses.

Another easy loan to obtain is a car title loan. Essentially, a person who owns a vehicle with a clear title can use it as collateral to take out a loan. A person visits a title loan company like Embassy Loans of Florida and fills out an application. There are no credit or background checks necessary, since a car or truck is used as collateral. If the borrower doesn’t repay the loan, the lender can take possession of the vehicle and sell it to recover any losses.

Car title loans and payday loans will continue to be great loan choices for those with poor credit. Due to changes in lending standards at traditional financial institutions, expect 2015 to be a year where conventional lending makes a return.



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.