Pension Financing Made Easy
Pension advances, commonly misnamed pension loans can by a good way to acquire an unrestricted access to cash. Pension financing allows you to exchange your future pension payments, for a large lump sum of money now. Whether you need to take care of some unexpected bills, or need money for something such as an investment opportunity, pension financing can help. Pension advances and are based on the current value of your pension. This means you are not required to have excellent credit for approval. As a matter of fact, this is a good option to consider for individuals with less than perfect credit.
If a pension advance sounds like something that may meet your needs, Life House Financial can help. As a leader in all types of personal loan financing, we will provide you with all options you have to consider, so you can decide which loan product is best for your situation. Even though a pension advance or buyout may seem like a good idea, there may be other financing products that can offer you a better rate. Using your pension to get the money you need should not be taken lightly, and is usually only considered if other types of lending is unattainable.
We have experts standing by ready to speak with you about all your options, and will give you the pros and cons of each financing product currently available so you can decide what is best. Our service is free and there is never any obligation to proceed if you are not satisfied with the results. Get started today!
Pension Buyout Financing Explained
Pension financing, commonly referred to as a pension loan,pension advance or buyout, can be a way for individuals with accrued equity in a pension to borrow money. Pension financing lending products will normally require a borrower to sign over the rights to a certain number of future pension payments, in exchange for a lump sum payment. In some cases, the lender may purchase your pension in its entirety. This type of financing arrangement allows a borrower with a less than perfect credit to obtain financing they may not otherwise.
Types of Pension Advance Financing
There are several types of pension financing that a borrower has to choose from. Life House Financial can provide you with access to lenders offering pension financing, and is here to answer all your questions. The basic types of pension financing include:
- Direct pension buyout – In a direct buyout, a borrower is required to waive all rights to their future payments, in exchange for a sizable lump sum of cash that can be used for any purpose. This financing option is not a loan, but instead a sale of a pension or annuity.
- Partial pension buyout – In a partial buyout, a borrower is required to transfer the rights to a certain number of pension payments, in exchange for a smaller cash payment. The agreement may be for a set number of payments or for an agreed-upon number of years. When the agreement expires, the rights to the pension payments are reverted back to the borrower.
Pension Buyout Lender Requirements for Approval
In order to obtain a pension buyout or advance, you will need a certain amount of equity in your pension. Most financial institutions require that your pension be fully vested in order for a sale of your future pension payments to occur. If you are interested in a pension advance, your credit history will be taken into account and can affect the rate and advance amount offered. Because each pension financing company offers different products and rates, it is recommend you comparison shop. Its important you understand pension advance financing products can have significantly higher rates then other types of personal loan financing, so comparing your options is a must.
Life House Financial allows you to comprehensively compare your options side by side. At Life House Financial, our mission is to help you locate the best financing solution for your short or long-term financial needs. If you need money, and want the best rate possible, let us show you why so many Americans have trusted us with their financing needs over the years. We'd be happy to help you identify your best loan options, and are here to answer all your financing questions.
Our expertly trained loan and credit representatives are standing by, Monday through Saturday, ready to discuss all loan options you have to consider at no cost or obligation whatsoever. Give us a call today at 1-888-952-7280, or submit your information online through our safe and secure online form now!