Every now and then, you or a significant other may require a relatively small amount of money in a short time, to help cover costs temporarily. This may be for something as simple as paying off an unexpectedly large bill, or for unforeseen medical expenses. This is where a short term loan can help.
Who is eligible for a short term loan?
Whilst each lender that provides short term loans has their own specific criteria, generally speaking the requirements are less restrictive than for a traditional home loan. This is due to the smaller loan amounts and loan term, reducing the liability against the lender.
Is a short term loan expensive?
Whilst short term loans generally have a higher interest rate than a home loan, the cost will depend upon your specific circumstances and the loan amount.
In any case, it is important that you speak to someone who has experience in these matters, so that you don’t end up costing yourself more money than is necessary. Call JPB Mortgage today on (02) 4627 5511 or submit an enquiry via the form on the right. A team member will be in touch soon!