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RichardtheFrog
10-21-2014, 12:41 PM
Does anyone know where I can get a personal loan with a term of longer than 5 years?

Harold Mansfield
10-21-2014, 01:00 PM
Does anyone know where I can get a personal loan with a term of longer than 5 years?

If you have good credit and collateral you can get a personal loan almost anywhere.
If you have neither, no bank or credit union will loan you anything.

shrinkme
10-21-2014, 09:30 PM
Hi Richard, What will you use the proceeds of the loan for?

RichardtheFrog
10-22-2014, 12:55 AM
Buying a used mobile and installing everything that goes with it (septic, well, permits, etc.). I would rent it out and profit margins would be slim, which is why if I could get a 6 or 7 year loan, that would make the margins bigger.

Fulcrum
10-22-2014, 06:50 PM
Buying a used mobile and installing everything that goes with it (septic, well, permits, etc.). I would rent it out and profit margins would be slim, which is why if I could get a 6 or 7 year loan, that would make the margins bigger.

Don't do this. Mobile home tenants, aside from a few exceptions (senior/retirement), are the lowest of the tenant totem pole.

RichardtheFrog
10-23-2014, 07:50 PM
Okay. But what about the original question? I know I can get a personal loan, but I have only seen them in 5 year maximums. I have heard people talking about 6 and 7 year personal loans in the past, but all the banks and credit unions I have talked to have said 5 year maximum term.

RichardtheFrog
10-27-2014, 10:08 AM
I do not have anything with a FEIN that has been in existence for at least 2 years.