The following content is sponsored by Anderson SC Living partner Spero Financial.
The ups and downs of the last year have many of us rethinking our lifestyles and life goals.
For example, we were forced to use our houses more and differently during the pandemic, which led to a surge in home improvement projects. According to Porch.com, 76 percent of homeowners in the United States have completed at least one home improvement project since the start of the COVID-19 pandemic.
Whether you’re planning an upgrade to your home or a vacation to destress from the pressures of the past year, a personal loan may be the best way to finance it, according to Evan Quellette, Lending Service Specialist at Spero Financial.
What is a personal loan?
In its simplest form, a personal loan is one of many ways to borrow money from a credit union or bank, and many times it doesn’t require collateral. In determining eligibility, lenders will examine payment history, credit score, job history and other considerations.
What can a personal loan be used for?
Dream vacations, debt consolidation, home improvement projects or medical bills are just a few of the things a personal loan can help fund.
What are the benefits of a personal loan?
A personal loan can give you quick access to cash, often at lower interest rates than a credit card. And the predictability of steady, even payments makes it easier to build and maintain your budget.
“The way to see what would be best for you is to have a conversation to see where you’re at now and where you want to be,” Quellette said. “Everybody’s goals are different, everybody’s situations are different, so it really is a case-by-case basis.”
Spero Financial presently has a personal loan promotion that may be able to save you interest on a loan. Membership is required and loans are subject to credit approval. You can apply online HERE or call (800) 922-0446 for more information.
