Unsecured Loan in Oshawa
Money may not buy happiness, but it is an important tool in our everyday lives in Oshawa. Unfortunately, we don’t always have the cash we need when we need it. Getting an unsecured loan can be a great way to get the money we need upfront for a variety of purposes.
What is an unsecured loan?
An unsecured loan is simply a loan in which there is no collateral. Your mortgage is an example a secured loan – it is tied to your property value. Credit cards and personal lines of credit are examples of unsecured loans.
Unsecured loans come in many forms, and you may be surprised to learn that we at 1Onefund Financial also offer unsecured loans to our Oshawa clients.
Unsecured loans typically have higher interest rates than secured loans, but the advantage is that you are not risking your home (or other collateral) when you get them.
What can I use an unsecured loan for in Oshawa?
You can literally use an unsecured loan for any purpose that you choose. There are however some reasons that are more popular than others. Here are a few of the most popular.
- Consolidating Debt – if you have multiple sources of debt, just keeping track of them all and making sure that you make each payment can be a hassle. When you consolidate all of those debts with an unsecured loan, it makes your payments much more convenient – and you may even be able to lower your total interest rate!
- Home renovations – Home renovations are a big-ticket item, and you may not have the funds to pay for everything up front. An unsecured loan can help you finance a remodel so that you can finally have your dream home, or so that you can fix up your home to sell.
- Medical expenses – Even in a country with “universal healthcare” getting sick or injured can be quite expensive. OHIP does not cover all treatments, and after a medical event you may need special equipment or care which is not covered by your insurance. An unsecured loan can help you through this difficult time.
- Pay for a wedding – Your wedding should be a special day, but it can also be an expensive one. An unsecured loan can help you pay for the venue, flowers, DJ, bar costs and much more.
If you are looking for an unsecured loan in Oshawa, we can help. Contact the team at 1Onefund Financial today.