Mariner Finance does not act as an originating lender for mortgage loans or the refinancing of mortgage loans. †††Mariner Finance’s mortgage loan officers are licensed and regulated financial professionals who work to connect potential borrowers with mortgage lenders who best fit the borrower’s financial situation. ±Loan closing is subject to various factors including, but not limited to, applicable lender underwriting requirements, market conditions, state specific regulations, and completion of all information and documentation requirements. Loans may also include origination fees, which may reduce funds available to pay off other debts. ††When refinancing your existing debts, the total finance charges over the life of the new loan may be higher than for your current debts if you have a higher interest rate and/or a longer term.
Not all loan types are eligible for loan by phone or online loan closing. Our loan by phone and online closing process requires a compatible mobile or computer device on which you can access your email and electronic documents. Not all rates and loan amounts are available in all states. Specific interest rates and fees are determined as permitted under applicable state law and depend upon loan amount, term, and the applicant’s ability to meet our credit criteria, including, but not limited to, credit history, income, debt payment obligations, and other factors such as availability of collateral. Not all applicants will qualify for the lowest rates or larger loan amounts, which may require a first lien on a motor vehicle not more than ten years old titled in the applicant’s name with valid insurance. Any stated APR represents the cost of credit as an estimated yearly rate, and each applicant’s APR will be determined based upon state of residency, credit at the time of application, subject to state law limits, and individual underwriting.
Loans greater than $15,000 or less than $1,500 are funded through our branch network. Loans between $1,500 and $15,000 may be funded online. What good is a low payment if it takes you 84 months to pay off the loan? Is the selling price for the car a good deal? What about the trade-in amount the dealership is offering for your car? Ask for the "out-the-door" figures from your salesperson and review them before making a decision.†We offer personal loans from $1,000 to $25,000, with minimum and maximum amounts dependent on an applicant’s state of residence and the underwriting of the loan. When you obtain a monthly payment, be it from a price quote, negotiation or advertised special, make sure you are aware of all the numbers behind it. Furthermore, these figures will differ for those who lease, so take a look at our articles for information specific to that scenario. Keep in mind that everyone's situation will be different, so these recommendations are not set in stone. The loan term should ideally be less than 72 months, and you should aim for a down payment of at least 10% or consider GAP insurance. Your loan payment should be no more than 15% of your take-home pay. The general rule for each of these is as follows: It is also important to be aware of how much the loan will total, how much of a down payment you're making, and how long the loan will be. And though this figure is the easiest to understand, it isn't the only number to be aware of. It can give you a reality check on whether you can afford the vehicle. The monthly payment is the best indicator of how the car loan will impact your budget.
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