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Author Topic: LAWLOANS, access group, the, wtf?  (Read 1248 times)

blackpowerman

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LAWLOANS, access group, the, wtf?
« on: June 25, 2007, 12:48:15 PM »
if i applied for a loan through lawloan and recieved an acceptance, interest rate, etc...should i expect the general same numbers for everyone else?

also, has anyone deal with lawloans before?  i believe its "powered by sallie mae". 

"The fox knows many tricks; the hedgehog one good one" - Archilochus

qmmm

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Re: LAWLOANS, access group, the, wtf?
« Reply #1 on: June 25, 2007, 01:18:23 PM »
No.  The terms of a private loan can vary widely depending on your credit score. 

One of the private loan options for my school had interest rates anywhere from PRIME-0.75%/0% origination fee/0% repayment fee to PRIME+6.50%/5% origination fee/5% repayment fee depending on your credit history. 

blackpowerman

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Re: LAWLOANS, access group, the, wtf?
« Reply #2 on: June 25, 2007, 07:57:33 PM »
thanks for the response, but i think you may have misunderstood me

if i get prime at lawloans- will i more than likely get prime everywhere else i go?  its based on credit score, so if one gives you 10%, then they will all give you around 10% right?
"The fox knows many tricks; the hedgehog one good one" - Archilochus

qmmm

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Re: LAWLOANS, access group, the, wtf?
« Reply #3 on: June 25, 2007, 09:19:06 PM »
Oh.  I see now.

Every loan institution has a different risk tolerance, so I do not think that you'll get the exact same interest rate at each lender.  While I wouldn't expect that you'll find differences of several percent, even one percent would be worth your while.  You should look around.

blackpowerman

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Re: LAWLOANS, access group, the, wtf?
« Reply #4 on: June 26, 2007, 12:46:41 AM »
know of any notoriously high or conservatively low places? i hate to get my credit hit every single time i apply...
"The fox knows many tricks; the hedgehog one good one" - Archilochus

qmmm

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Re: LAWLOANS, access group, the, wtf?
« Reply #5 on: June 26, 2007, 12:02:28 PM »
Sorry.  I don't have that kind of info.