What you should ask yourself before requesting a loan

At some point in your life, you may need financing and may need to apply for a loan. Take the trip of your dreams, finance your studies, buy a house, reform your home … These are some of the main reasons why we usually ask for a loan. But, what should we ask ourselves and what should we look at before requesting it.

How much quantity to order? in how much time? At what interest rate? How are you going to pay it? These are some of the key questions to ask yourself before applying for a loan. But also, aspects such as commissions, clauses, deadlines must be taken into account …

Tips for borrowing

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We can include in two large groups what should be valued before choosing a good credit. On the one hand, your personal financial situation and, on the other, the characteristics of the loan. So let’s go part by part.

Personal questions

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Before applying for a credit it is important that you assess your personal situation. You should analyze your job stability and solvency to make sure that you will be able to face the payment of fees from the first month to the last.

It is also important that you know what your level of indebtedness is. In other words, calculate how far you can go, how much you can ask for and how you will pay for it. In addition, always calculate a margin for contingencies.

Loan Characteristics

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Once you have analyzed your personal situation, the first thing you have to do before making a decision is to compare the different types of loans available in the financial market. For example, at Across Lender we offer you a personal loan for whatever you want, adapted to your personal needs. Another determining aspect before requesting a loan is the interest rate. Knowing the differences between TIN and APR will help you make a decision. But if you really want to be sure of what you are going to pay, look at the APR (Annual Equivalent Rate).

When you ask for a loan, the most common thing is to pay a fixed monthly fee. This is made up of the interest and the capital that you are amortizing. Calculate how much you are going to pay each month and if you are not going to be able to face it, look for an alternative. We also advise you to study the commissions. The most frequent are the opening commissions, change of conditions, early amortization and cancellation.

Other tips

From Across Lender we encourage you that if you have any questions, stop by one of our closest offices and inform you of everything you want. However, before you apply for a loan, keep these recommendations in mind as well:


  • Think about whether you really should apply for the loan.
  • Don’t ask for more money than you need.
  • Avoid falling behind on payments.
  • Read the contracting conditions well.
  • Don’t resort to fast money.