The times when taking out a loan was a great undertaking related to visiting the bank are slowly becoming a thing of the past. In the age of SMS and online loans, no one will be surprised by the option of a loan at the borrower’s home. This is a service offered only by some companies, often those that prefer to reach customers interested in the offer instead of maintaining a stationary outlet. Most often, home loans are offered by institutions outside , but what does it look like in the context of financial services available on the market? Distance-based loans are gaining in popularity due to the short decision-making period and the reduction of formalities needed to obtain a loan. Based on the online application completed, the company verifies the customer and accepts or rejects his application. In many companies, it is also mandatory to verify your identity by sending a transfer to for a minimum amount, e.g. USD 1 or USD 1. If the customer passes this stage positively, the loan is paid by transfer. However, not everyone wants the loan to appear on the bank account. This may be due to financial problems and account seizure, access to the account of other people, or inability to handle transfers and banking services (elderly, illiterate people who do not have access to equipment, internet, mail, etc.). Then a loan at the client’s home can be a good solution.
What is a home loan?
First of all, home loans are served by companies with field representatives, also known as mobile client advisers, therefore only some financial institutions offer this type of loan. The service consists of an initial telephone arrangement of customer expectations and matching them with the terms of financial services provided. If they converge, after a conversation with the consultant, a date is set for meeting the company representative at the borrower’s agreed place of residence. By definition, a home loan company guarantees you to get cash at home the first time you meet.
During the visit, the loan application is completed, the client’s identity is verified, the required certificates and documents are provided from the client, the contract is signed, the debt repayment method is determined and, in the case of a successful application, cash and debt repayment schedule is submitted. The customer has the option of collecting installments by a company representative so that the loan at every stage takes place at the borrower’s home. Remember that the basic data that you need to prepare to complete the application is name, surname, address, PESEL number, telephone number, data on employment or granted retirement, disability and other benefits and the loan amount.
Depending on the borrower’s needs, many companies give the opportunity to flexibly choose the number of installments, which translates into their amount. This makes it possible to adjust the installment amount to the client’s financial capabilities. This is good for both parties to the contract: the lender is more confident that the customer will meet the repayment conditions, while the borrower will not get into financial problems resulting from too high a loan installment. A loan at the client’s home is most often repaid in installments, it is rare to find house payday loans paid back in full during, e.g. days. The second important issue is the amount of the home loan. Usually it does not exceed a few to several thousand USD. These are not large loans but only consumer loans for any purpose, i.e. current needs and emergency situations.
Who is a good home loan for?
The addressee of the offer is most often people who do not have time to look for offers in stationary establishments or because of health, physical or obstacles related to lack of access to the means of transport or communication, they prefer to contact a financial advisor at home. Another group are people who do not use the account , who want to get cash in their hands. Still a group of people who do not distrust banks or do not use account is substantial. Granting a loan at the client’s home is also a chance to remain discreet, especially if the borrower does not want to share this information with family and friends.
Home loan costs
A home service loan is usually an interest-bearing loan, where the cost of granting a home loan must cover the cost of servicing it at your place of residence. However, they can be comparable with the cost of a loan granted stationary, so before making a decision on choosing a loan, it’s best to spend some time analyzing the conditions in different companies. Before signing the contract, as with any loan, loan or payday loan, it is worth reading the contract, calculating whether the proposed installment amount is realistic to pay, and you can also check the credibility of the lender.