Guide to military loans

If you are a current or former member of the US Military whether it be Marines,
Army, Air Force, Navy and you’re in need of a loan of any kind then you should
seriously inquire about military loans. There are many benefits to military
loans that are available to even retired servicemen that are a better option than
conventional funding :

– Lower interest rates than civilian loans.

– You rarely need any collateral such as a car or home. These loans are
completely unsecured since it is easy to find you since you are in the military.
Military loans not only have low interest rates but also no early payment penalties.

Loans to military personnel are as diverse as those available to civilians.
Whether you need a military personal loan, mortgage, auto loan, motorcycle loan,
debt consolidation loan, student loan or computer loan there are military financial
instruments available for whatever situation you are in.

Preferably you would do better on the interest rate if your credit was in great
shape but many times stuff happens and you’re in a bad situation but that’s alright.
There are bad credit military loans and no credit check military loans available also.

People also eligible to take out military loans are immediate family members as long
as you can show evidence or those who have power of attorney.

Let’s look closer at what military loans are available, how they are different than
conventional civilian loans and what it takes to get one:

Military Personal Loans:

If you’re in need of money to pay for personal expenses such as hospital bills, tuition
fees or any other bills for that matter there are military loan companies out there
available to meet your need. They may even possibly waive your interest fees if you
promise to pay the loan back in a short period of time!
If you’re stationed out of the country you can even arrange direct deposit in your
account for your convenience.

Military Mortgage Loans:

Its extremely important that military personnel pick out the right military loan
company if they want to be secure in their loan arrangement. This applies to whatever
loan you are getting. Here are a few checkpoints:

– Check that they are accredited by recognized institutions like the Better Business
Bureau. Trust but verify.

– If their office has staff members that are former military members it would be an
advantage since it will give you more reassurance about the company as well as giving
you a possible recommendation if you’re credit’s not the greatest.

– If the loan company provides counseling services they can discuss your situation
and be certain your getting the right kind of loan. This shows they’re just not
after your money.

– As mentioned before Online Services are key if you are stationed on the other side
of the planet and you can be sure everything is transacted the way you want.

– Make sure the interest rate is low. If your credit is good there’s no reason why
it shouldn’t be. High interest rates usually fall into the classification of
payday loans which are strongly warned against. We’ll talk about 2 great alternatives
to payday loans next.

Alternatives to Payday Loans
If you have absolutely no other out and you can pay this loan off right away
and the money is needed right away then this type of loan may work but here are
2 more recommended alternatives to military payday loans:

Pioneer and Omni Military Lending:

Both of these lending groups specifically cater to the needs of military personnel
and offer lenient credit requirements as well as convenient terms and locations.
Low interest rates, online services and rapid response make these two options
stand out above the rest.