About Maine Loan

Maine Loan is not a lender. We don’t fund any loans nor do we assume to. Maine Loan is an online service that connects our consumers with creditable lenders who can accomplish their lending needs.

We are a 100% free service and won’t ever and will never charge you, our consumers a fee for using our free service. Our objective is to help the residents handle the difficult proces of receiving the best loan possible.

We offer various financial services to our customers. We can connect our consumers to several loan companies providing numerrous types of loans. MEloan.com can connect our consumers to personal loans, credit cards, auto loans, education loans, education loan refinancing, debt consolidation and business loans.

You should choose MEloan because of our multiple years of knowledge in the loan marketplace to assist you through the process of getting a loan or credit. We have already finished the research, developed comparison systems and made a way to simply connect you with a great lender for your current situation.

Receiving a loan, regardless of your credit or financial situation is simple with MEloan. We have entered partnerships with a large selection of lenders lending to people spread across the credit spectrum. We take great pride in being able to connect our consumers with their perfect loan whatever their current situation.

Getting A Loan

Receiving a loan in Maine is uncomplicated, quick and easy thanks to Maine Loan. The first step is to go to our product page and select the type of loan or credit you are interested in (loans offered). Then easily select the button to get connected and fill out our loan connection form. We then connect you to lenders in seconds. You then select the lender of your choice.

MEloan’s platform is able to connect our consumers to the perfect lender in seconds, from there, the pace at which loans are funded is varied depending on the lender.

Just applying with a lender will not affect your credit score in any way. Loan companies make use of soft credit checks, which doesn’t impact your credit score.

The volume to which you can borrow changes depending on the lender. Utilizing our comparison platform you’ll be able to view the maximum each lender offers.

About Lenders

Each individual loan company has an developed a formula {to decide|that determines who it is they accept as borrowers and the interest rate the loan carries. This is procedure known underwriting. Lenders take a look at several elements containing but not limited to your credit history, your current debt-to-income ratio, and your expenses to determine your credit rating.

Loan eligibility varies by the lender and loan type. Ordinarily, loan companies will look at your credit score, current income, employment history and other factors. Luckily MEloan has taken the difficulty out of getting loans or credit online.

Each lender has a dissimilar application procedure, but they are all quite similar. While applying the loan company will normally inquire for your name, address and social security number (Which is needed to inquire a credit check). This is hardly an occurrence but depending on the loan type and lender you may be requested to submit papers like pay stubs, tax returns, transcripts, etc.

APRs are dependent on observed risk. They are built on the loan companies underwriting, they identify the risk of a consumer defaulting when they apply for a loan. smaller the perceived risk, the lower the APR given by the lender. The higher the perceived risk the less probability the loan will be accepted and the higher the interest rate will be.

Trying to get a loan is free. You should never be forced to pay in order to appy for a loan. MEloan.com will not partner with lenders who make you pay a fee to apply for a loan. We highly recommend against conducting business with such loan companies.

About Loans

The APR is the ratio of credit that contains all fees, including fees the lender charges you for funding a loan (ex. origination fees). Annual Percentage Rage (APR) is valuable when comparing different loan offers because it includes all fees. The interest rate is the total volume of cash that is charged for borrowing the money. Rates don’t include the origination fee or any other fees charged by the lender.

Floating rates loans whose rates will change after time, usually 1 year. The increase of the annual percentage rate will be set by an inner measurement, for example a prime rate. Determining whether you should get a fixed or variable APR is vital because with a variable rate, your rate could get larger later down the line. The lower rate of a floating loan is commonly referred to as a “teaser rate” to entice borrowers to the lower rate.

Consumers who lack a well established credit report might have a hard time receiving a loan.

Traditional loan companies, for example banks normally don’t lend to people without an established credit history. If you are in in this circumstance, you {could go an alternative online lender. Maine loan has entered partnerships with multiple alternative lenders to gurantee you get the loan you need.