{"id":5387,"date":"2022-09-04T00:00:00","date_gmt":"2022-09-04T00:00:00","guid":{"rendered":"https:\/\/thewealthcircle.com\/?p=5387"},"modified":"2022-09-04T13:24:17","modified_gmt":"2022-09-04T13:24:17","slug":"what-is-an-in-house-loan-all-you-need-to-know","status":"publish","type":"post","link":"https:\/\/kiiky.com\/wealth\/what-is-an-in-house-loan-all-you-need-to-know\/","title":{"rendered":"What is an in house loan? All you need to know","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n
Sometimes, raising the money to buy or build your dream house may seem daunting but with an In-house loan, you can be so sure to get your dream house soon. You may ask, what is an in-house loan and how does it work? Alright, in the lines to come, I’ll show you.<\/p>\n\n\n\n
The process of money lending has gone through several stages of democratization and consequently, big banks used to have a monopoly on selling quality credit products.<\/p>\n\n\n\n
Luckily for all of us, technology has helped us find alternative lending options. In-house loans and financing is one of those options. <\/p>\n\n\n\n
This option helps a venture offer more payment flexibility and helps them score more business even when clients don\u2019t have all the money to pay upfront. <\/p>\n\n\n\n
Interestingly, this practice helps to keep clients by helping them get what they need on conditions that work for them, without having to deal with the middleman\u2019s rates and fees.<\/p>\n\n\n\n
Here in this article, you’ll learn more about what an In-house loan is. Just keep reading. <\/p>\n\n\n\n
Meanwhile, here’s the table of content below for an overview of what to expect in this article.<\/p>\n\n\n\n
In-house financing is a type of loan offered by a business directly to a customer, allowing them to purchase goods and services offered by the business. <\/p>\n\n\n\n
Usually, this kind of financing eliminates the need to secure a loan through a financial institution.<\/p>\n\n\n\n
A typical analogy of how In-house loans work is this: If I want to purchase the latest Ford Edge which costs about $38,100, and I don’t have the complete money, what I’ll simply do is to approach Ford Automobile Company for an In-house loan.<\/p>\n\n\n\n
The corporation will look through my application to see if I’m creditworthy. Being creditworthy means whether I’m able to pay back the money. They’d like to know if I have a steady flow of income to pay back the money. <\/p>\n\n\n\n
If I satisfy all that they require of me then, I’ll be given the amount of money I want so I can really purchase their product.<\/p>\n\n\n\n
Read: 23 Small Business Ideas for Men with High Profit<\/a><\/strong><\/p>\n\n\n\nWhich is better between in house or bank financing?<\/strong><\/span><\/h2>\n\n\n\n