QUALIFYING FOR A LOAN
Answers to your questions
Q: What if I don’t have credit?
A: We help people without credit every day. Just give your information to one of our team members and they will do everything they can to get your loan approved.
Q: Do I have to have a bank account?
A: No, we do not require a bank account. We are not a payday lender and our loans are less costly.
Q: Do you have to run a credit report?
A: Because your credit is just one part of what helps us determine the loan that we give you, it is necessary for us to run a credit report.
Q: How much money do I have to make to qualify for a loan?
A: There is not always an income level requirement. When you apply, we review your monthly expenses and available income to make sure you can afford your new monthly payment. At the Hometown Group, we do not want to burden you with a payment you cannot afford to make.
Q: Will you use my credit score to qualify me for my loan?
A: The Hometown Group does not make our loan decisions based on a customer’s credit score. We understand that folks may have had difficulties in the past and focus our decision on your current credit experience, and ability to pay.
Q: What if I have had credit problems in the past?
A: We consider ourselves experts in helping individuals with past credit issues. Our Hometown Group team members will get to know your situation and do everything they can to re-establish your credit.
Q: My application was turned down. How do I find out the reasons for this decision?
A: If your application was turned down, you will receive a letter by email or physical mail explaining the reasons behind the decision. You can also contact the branch location that processed your application for an explanation.
Q: What kind of collateral do you require to secure my loan?
A: The type of security required can vary by the size of the loan or your current credit situation. However, any of our loans are unsecured.