A loan from a bank like M and T Bank Mortgage is a good way to go when the chips are down. The interest rates are reasonable and the fees are nominal. However, you can expect to be hit with a high price tag if you default. In order to avoid the embarrassment of going into debt, you may want to consult with a credit counselor before you apply for a loan. Alternatively, you may also be interested in paying down a loan before it becomes due. This can be done by making a hefty down payment on the home.
Payday loans come in all shapes and sizes. Some lenders offer installment plans, while others are strictly cash advances. For a loan of any size, you will need to prove that you are at least 18 years old and that you have a job or regular income. To qualify, you will also need to have a checking account and a valid ID. One caveat, however: Many payday lenders charge higher rates for those without proof of employment. Be prepared to sift through the reams of paper and print out a few copies of your pay stub.
Taking out a loan from a bank is an option, but you may want to take a hard look at an online lender. If you opt for a direct lender, be sure to compare prices and perks in advance to save yourself the headache of dealing with a lender who isn’t as picky as you are.