What Does It Mean to Finance through an Unsecured Loan?

Baltic Exteriors offers financing options that include a 12-month zero-interest loan and a 5-year unsecured loan. But many people are uncertain what is meant by an “unsecured loan” and what the advantages of financing this way might be.

The linked article, Pros and Cons: Secured Loans vs. Unsecured Loans by Susan Wellish at Realtor.com, explains the advantages and disadvantages of unsecured financing. While these loans typically come at a higher interest rate than would a home equity loan, they offer the following advantages:

    • They are an ideal source of financing for homeowners who have not built up enough equity in their homes to qualify for a home equity loan.
    • They do not involve a lengthy application process.
    • They do not involve a detailed closing, which is sometimes accompanied by closing fees.
    • They do not put a lien on your property.
    • Approval is almost instantaneous provided you have a solid credit history.

Do not put off important home repair or renovations. Let Baltic Exteriors help make paying for the work as easy as possible. Through our partnership with EnerBank USA, we can help you find the right financing option for you. Contact us to learn more about financing or to receive a free estimate for your job.

Full article on: Realtor Image credit: TaxCredits.com