How to Stay Safe When Applying for Loans Online

Overview

Before you apply, it helps to understand how this type of product fits into your overall money plan. We cover how it works in the US, what to watch out for, and which questions to ask any lender.

Key points for US borrowers

• Check the APR, not just the monthly payment.
• Compare at least two or three offers when possible.
• Ask about fees, prepayment penalties, and how your credit is pulled.
• Make sure the payment comfortably fits your budget.

Next steps

Use this guide as a starting point, then read more detailed pages in our site about credit scores, APR, and debt-to-income ratio. If you feel unsure, consider talking to a certified financial professional.