Active Duty Loans

posted by admin on Mar 14

Have you been hit with unexpected bills or expenses? If you are or were on active duty for the Army , Navy, Marines, Air Force, or Guard, then have the opportunity to take advantage of an active duty military loan. These active duty loans are specialized for those serving our country.

Loan amounts can range from $500 up to $10,000. Pay off a car or truck, eliminate credit card debt, or use the money to renovate your home. The extra money can also assist you in unforeseen expenses such as covering the cost of a funeral or air fare to see a sick loved one.

Military loans are unique because they typically offer interest rates below what is available for civilians. Also, they often do not require you to put down any collateral. Another advantage of an active duty loan is that there is no penalty for early payment.

Qualifying for one of these types of military loans is easy. You must meet one of the following requirements: Department of Defense GS-6 or higher, 20+ years career retired military personnel, full time active reserve personnel, or an active duty military personnel.

Loans are typically paid back in allotments. The scheduled amount is taken directly from your military pay check. This eliminates late fees. Most companies prefer this method. It’s a convenience to you because you do not need to write a check every month, and you don’t ever have to worry about late fees.

Like any loan, income and credit are also determining factors. However, most active-duty military members have a guaranteed stable and steady stream of income; this lowers risk of loan default, which enables quick approval for military loan applicants.

You can choose from a variety of easy and flexible active duty loan programs for short or long term funding. Online military lenders provide fast service on a secure platform. They can quickly get approved and have the money that you need.

Active duty loans are a great way to help you and your family through unexpected financial troubles by offering you reasonable interest rates.