If you’re looking for a loan, you may have heard that it’s best to work with a direct lender. So what exactly is a direct lender, and what benefits do they offer?
A direct lender offers you a loan directly, whereas a loan broker, affiliate or lead provider simply matches you with a lender. Working with a direct lender can offer a number of benefits, whether for an installment loan or other loan type. First, you have the freedom to survey the entire field of lenders to find one that fits your particular needs. In other words, you can evaluate lenders based on the factors that are important to you, rather than choosing from a shortlist determined by a loan broker. Second, working with a direct lender may save you money. By cutting out the middleman, you get a rate that’s coming directly from the lender.
A final benefit of working with a direct lender is security and transparency. Unlike a loan broker or matching service, a direct lender won’t shop your information to various third parties. This limits your exposure to fraudulent and unscrupulous practices. Of course, it’s always important to do your due diligence vetting any organization — including direct lenders — before sharing your information with them.
Even though working with a direct lender has certain benefits, it isn’t necessarily a bad idea to use a loan broker. In some cases, loan brokers offer very good options and are upfront about how they handle your information. Even better are loan brokers that work with a single bank partner, because their rates are clear and you know exactly where your information is going.
Is NetCredit a Direct Lender?
Yes! NetCredit works directly with consumers to provide installment loans. We won’t share your information with any third parties, and you won’t find a better rate on a NetCredit loan anywhere else.
With NetCredit, you can check your eligibility online for up to $10, 000 in just a few minutes. Thanks to My ScoreSaver™, checking your eligibility won’t affect your credit score, and you’ll see your eligibility decision immediately. Once you accept your loan offer, you’ll receive your funds typically by the next business day.
The Federal Family Education Loan (FFEL) Program was the second largest of the U.S. higher education loan programs (Direct Loans being the first). The FFEL was initiated by the Higher Education Act of 1965 and was funded through a public/private partnership administered at the state and local level. In 2007-08, FFEL served 6.5 million students...
Section 502 loans are a rural housing loan program, administered by the Rural Housing Service(RHS), authorized under Section 502 of the Housing Act of 1949. Borrowers may obtain loans for purchasing or repairing new or existing single-family housing. Loans are made directly by RHS (7 CFR 3550) or by private lenders with a USDA guarantee (7 CFR...
Instant Referrals for Mortgage Professionals: A Proven System for Capturing More Agents, Closing More Loans and Becoming THE 'Go-To' Lender In Your Area
Book (CreateSpace Independent Publishing Platform)