Like deciding on any commitment, taking a loan or credit it is necessary to carefully consider the choice. Remember that your assume the obligation to repay the borrowed money on time. “Kredito garantas” will gladly advise and guide you when choosing a loan. Here are 6 key things you have to consider:
1. You need to clearly understand what you need – a loan or credit? A loan is a transaction in which you become the owner of the borrowed money and you can use them as you want. Taking credit, unlike a loan, you do not become the owner of the borrowed money. The credit is usually used to refer to fast loans. However, in both cases you will have to repay the borrowed money sooner or later. A loan can be viewed as an investment in the implementation of your dreams, it is suitable for when you want to buy housing, some other real estate, perhaps a car.
2. Select a lender who offers the most favourable conditions. “Kredito garantas” takes into account the situation of each client, consults and advises, if necessary, provides an opportunity to defer payments; taking a housing loan, no down payment is necessary.
3. Determine the exact amount that you need for your planned project. Depending on it you can decide what type of loan you need and what lender to choose.
4. Evaluate your abilities to repay the loan and pay the instalments. Lenders such as “Kredito garantas”, offer quite flexible terms for repayment of the loan, but still you should consider your income and the possibility to fulfil the obligations upon lost of the main source of income.
5. Assess the owned real estate. Under pledge of real estate, you have a better chance of getting the required loan.
6. Think about family members. You can take a loan with your spouse or cohabitant – this ease the conditions a little bit. Also, do not forget – if you have minor children and want to pledge housing, you have to get permission from the District Court.
For more information about the type of loan you are interested in please refer to any branch of “Kredito garantas” in Vilnius, Kaunas or Klaipėda.