What are the rocket loans you need to start a personal loan?
How much does it cost?
What are some of the best personal loans available?
The answer is, a lot.
According to a new report from NerdWallet, you’ll need $1.7 million to start your own personal loan.
NerdWallet analyzed a number of consumer loan programs from the Federal Reserve, the Consumer Financial Protection Bureau, and the Federal Trade Commission.
That means you’ll be paying about $2,000 per month for the loan.
You’ll also need a minimum balance of at least $5,000.
And NerdWallet’s report found that you can’t go wrong with a home loan, too.
NerdWise’s loan calculator allows you to estimate the monthly payment based on your personal circumstances.
And NerdWiser’s calculator lets you find the lowest monthly payment you’ll get from a loan you’re interested in.
If you’re looking to pay off a big loan and are willing to spend a little, you can find a home mortgage with a 3-year term with the Federal Housing Administration or the mortgage company at 3% interest.
If you’re on the low end, the rates can be as low as 1.75% or 2.25%.
For more advice on starting a personal credit card, see NerdWallet: NerdWallet personal loan calculator.
How much does a personal mortgage cost?
The average cost of a 10-year loan is about $1,600.
But NerdWallet found that the minimum payment for a loan is usually about $750.
NerdMax and Bankrate both found that a 10% down payment can add up to as much as $1 million in interest.
Nerd Wiser says a 5% down is about the same as a 1.25% loan.
But there are some caveats.
Nerd Wallet’s Nerd WISE calculator says a 10 percent down payment is “almost impossible,” but it adds that “the lowest-down payment available from a credit card can cost up to $4,000.”
So even if you don’t have a home, you might be able to get a loan with a 2.5% down.
Nerdwiser’s NerdWISE calculator gives a slightly higher figure, which says that “a 5% or 5.25 percent downpayment is a good option.”
But for those who don’t want to deal with the down payment and don’t need it, there are many options out there.
If Nerd Wise’s calculator doesn’t work for you, you could also look at Bankrate.
It says that a 1% downpayment “is the least expensive option,” but you have to take into account the monthly cost.
Nerdmax says that the monthly costs are usually about 20% of a typical mortgage, but NerdWises says that’s a “fairly generous estimate.”
And if you want to avoid all the hassle of putting money down, you’re better off going with a personal lender that offers a low down payment option.
For example, Bankrate offers a 1-year down payment of about $300.
And the Federal Home Loan Mortgage Corporation offers a 10-, 15-, and 20-year loans at 3.9%, 5.9% and 8.3%, respectively.
The personal loan industry is booming.
But there’s a catch: You have to be able afford it.
Nerdwire says the average mortgage payment for an individual is about 3% of the household’s income.
Nerdwoiser says that for couples, the average monthly payment for couples with children is about 2.75%.
So if you can handle paying down a large loan, it’s time to go with a lender that will give you the flexibility you need.