Montana is one of the largest states in the country, but also one of the least populated. The lakes, mountains, hiking, hunting, boating, skiing, and fishing make Montana a must visit. With wide open spaces, it can be hard to find tons of personal loan lenders nearby. Enjoying the vast open spaces of Montana is a pleasure but searching for lenders that fit your needs is not, which is why America Loan Service is here to help.
We use your zip code to find all the top lenders operating in your area, saving you time having to search through them yourself. You can compare all these lenders with a breakdown of all the info you need to decide which loan is right for your circumstances, without having to even leave your home. Our partnered lenders have the knowledge to help with anything from mortgages and auto loans to debt consolidation and relief. However, before you start looking for your loan, it is helpful to know some of the differences between them.
Most of Montana is at the age where mortgages and educational debt are weighing heavily on their budget. For debt consolidation, one might consider an unsecured personal loan, which goes up to $100,000 with a maximum 7 year repayment period. These are great for lowering the rate of old student and credit card debt, however, they don’t have the capital necessary to cover larger expenses like medical emergencies or funding a start-up business. For these, you may require a secured loan, which often uses your home as security. These can be worth up to 70-90% of the equity in your home and can be just a home equity loan or a line of credit. Secured loans can be drawn against for up to 20 years before repayment, making them great for more long-term projects that require large investments.
Your loan can be used for much more than you think as well. Perhaps you live on one of the many farms dotting Montana’s landscape. A personal loan can kickstart a new project that would otherwise be unaffordable, or help in an emergency to ensure you don’t lose any valuable working time in the season. If you’ve been planning to upgrade your home, purchase a new vehicle, or just take a much-needed vacation, finding an affordable personal loan can let you get started today.
Bad Credit Options in Montana
Once your credit drops below the 590 mark, you are officially considered to have bad credit. This greatly decreases your options for loans, which is why your first goal should be credit repair. Finding a secured credit card can get you started, and talking to a credit repair specialist can save you money in the long run by fast-tracking your recovery back to 600. We recommend Novita for your credit repair needs, not only because of their fair pricing but because they take steps to prevent you from falling back into poor credit ever again.
Novita was built for Americans with chronic financial troubles, whether from bad credit, overspending, or financial emergencies. Novita is a Personal Financial Guide that identifies and demonstrates how you can prevent or fix your financial issues yourself. Unlike other personal financial services, Novita gives you actions to perform instead of numbers to look at.
If you desperately need a loan while suffering from bad credit, some of your only options are payday lenders. These lenders used to be able to charge sky-high interest rates, but in an effort to protect consumers Montana has enacted usury laws which set a cap on interest for personal loans. These laws currently cap interest at 15% on contract, however, mortgages, credit cards, home equity loans and lines of credit, auto loans, and business loans are all exempt from this law. For a full list, see the link below called Exceptions to the Usury Law” from the Washington Department of Financial Institutions.
No matter your credit score, America Loan Service is working to have the resources you need to find a loan in Montana. If you need money to buy a tractor, truck, air conditioner, house, cabin, hunting lodge, or anything else you can think of, the right loan is out there. Take the guesswork out of looking for lenders and let us find the best in your area for you. It all starts with your zip code and our lender connection tool, which can show you all of your options in seconds so that you can begin to work your next financial goal today.