loan guarantees
Question
How hard is it to get a $30,000 loan?
I work at a state-wide power company making $10/hr The comany I work for has a credit union. I'm only 18 I just started...im a month in...but the job is guaranteed for another 2 years via a scholarship I was awarded. How hard do you think it would be to get a loan from the credit union?
5 months ago - 4 answers
Best Answer
Chosen by Asker
With your age being 18, I am assuming very little to no credit. No credit, length of time on the job, and your age will require a co-signer.
5 months ago
Asker's Rating: 
Other Answers
chances? Impossible
by It's ME- 5 months ago
"Im only 18" = no credit history $10/hr = peanuts "I just started" = no work history Sorry, but this loan is WAYYYY over your head.
by Ryan M- 5 months ago
At 18, you have not yet established a good credit history. You earn low wages, and it would be a huge risk for a lender to give you a $30,000 loan. The interest and fees involved would make the amount you owe considerably higher. You can apply for the loan, but it is very unlikely that anyone will loan you that amount. Personal loans are a very bad move. Check out the loan calculator at www ... A 5 year $30,000 loan with a 12% interest rate would have a monthly payment of $667.33 for 5 years or 60 months. The interest rate would probably be much higher than 12% based on your age, occupation, and lack of credit history. You would never be able to pay it off and would always have this hanging over your head. Don't mess up your life.
by Heather- 5 months ago