Can i possibly get approved?

Question

im afraid to ask, but i applied to American Dream Financing for my dental care. (FIVE STAR dental in orlando, fl.) Will i be approved for wanting a loan of 4,130 and having an income of 1,500 a month?

Answer 1

It's hard to say if you are only stating your income. In order for you to get the correct answer you have to look at several variables some being your debt (CC, auto loans, mortgage or rent, other loans or revolving credit), occupation & time in that field, & time at current & previous residence. For the most part the company giving you the loan is going to look at your application in terms of risk in these areas to determine weather you are a risk to them.

Answer 2

that is a pretty high loan if your gross income is only 18000 a yr - the loan probably would not be for more than 2 yrs, so your monthly payment would be over $200 a month - that's a lot for your income to handle

Answer 3

If you are thinking about getting a loan, then you should know about the basics before you get started. If you understand the basic dos and don’ts of loans, then you will be better equipped to find the best loan for your needs. Whatever type of loan you are applying for, you should follow these basic rules to help you find the best deal when searching for a loan, it pays to do your research. Look for as many suitable lenders as you can, so that you can find the very best deal. There are many online pages that allow you to compare loan rates from a variety of lenders. As well as looking online, check out your high street banks and mortgage lenders for deals too. You may find the loan that you need here,

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If possible, try and avoid taking out secured loans. If the amount you need to borrow is small or you have good enough credit to borrow without collateral, then do so. Although unsecured loans have higher rates, they are less risky because your home will not be at risk if you cannot make the payments.Try and take a loan out over the shortest period you can afford. Taking loans out over 10 years or more can be risky, and you cannot be sure what your financial situation will be at that time.