If you have just finished making your monthly payments on a mortgage loan or a car loan, you may be able to apply for short-term loans over 6 months. This is a great way to get a short-term loan if you are in a hurry. If you find that you are in a hurry to get your next paycheck, you may be surprised to find that the interest rates are a lot better than what you were paying when you first bought the car or mortgage. You can use this type of loan to pay for unexpected bills or to help you get through a difficult financial time.
Short Term and Long Term Loans
One of the best things about short term loans over six months is that there are some restrictions on the amount that you can borrow and the interest rate. The lender will require that you have good credit and that you have an emergency to make the payment. Some lenders may also require that you have an account with them and that they know that you have a checking account with them as well. These short-term loans are usually a great way to help you in a crisis. However, you should never borrow more than you need to pay for the emergency.
If you are looking for longer-term financing, you may be disappointed to find out that short-term loans over six months are not very helpful in that area. If you have bad credit and no checking account, you may not be able to obtain the financing that you need to buy something new.