Personal loan?

Question

I need to find a miracle, I need to borrow $60,000 with the ability to pay $1000.00 per month. I am hard working and honest, I realize that does not get you any where any more!
I Just need that one little break to get my head above water!
Please if you can help! $60,000 at 7% for 5 years.
Can't hurt to try!

Answer 1

You can get a loan of up to $25,000 from a website called Prosper.

They are a private lendors and they pitch in to help if they feel you are a good risk.

http://www.prosper.com

It is worth a look. Borrow small amounts at first and prove your ability to pay. You don't have to pay your $60k all at once.

Answer 2

1

Answer 3

With the $ amount you are needing you are going to run into an issue with getting a loan unsecured (No Collateral). Do you have any assets in property or anything along those lines?
Banks have a less stringent process when there is something holding the loan like a car or a piece of property that they could seize if the loan went into default.
Unless your credit is spotless, you have a great job, and you know someone at the bank really well, a secured loan is your best shot. Hope this helps!

Answer 4

Payment on $60K for 5 years at 7% would be closer to $1200 a month than $1000.

You don't mention having collateral - if you don't, you're right, you'd need a miracle to get this loan unless your credit it absolutely top-notch, and even then it wouldn't be likely.

Good luck though.

Answer 5

First, don`t go through a broker, they will only put your case to a lending bank which will pay THEM the biggest commission.
You can cut them out by going direct to the lending bank yourself and not only get a cheaper interest rate (because a commission does not have to be paid) but you can negotiate.
I imagine you are in the USA so try First National.
They may be called something else like, FIRST NATIONAL BANK OF AMERICA or something like that.
But cut out the broker.