Rates & Fees
Loan Costs and Service Fees
BorrowYourLoan.com provides its service at no cost to users. We do not directly offer loans or act as a lender. Instead, we help match your submitted information with our network of trusted lenders and lending partners who may extend a loan offer to you.
Understanding Fees and Interest Rates
As required by the Truth in Lending Act, lenders must provide a clear explanation of any interest rates and fees associated with a loan. These terms will be presented to you during the approval process. Once approved, you’ll typically be directed to an e-signature page hosted by the lender or lending partner. This page outlines all relevant loan details.
Reviewing the Loan Terms
Before you commit, your lender or lending partner will present a complete breakdown of fees, interest, and repayment terms. You should review this information carefully to ensure you fully understand the agreement. You’re not obligated to proceed if the loan terms do not meet your expectations. Only sign the agreement if you’re comfortable moving forward.
Determining Rates and Charges
Your lender or lending partner determines the exact interest rate and fees based on the information you provide in your application. BorrowYourLoan.com does not influence or access these terms and remains independent from any loan agreements made between you and the lender.
Late Payment Policies
Each lender or lending partner may have different rules concerning late payments. You should review their policies in the loan documentation before agreeing to the terms. All lenders are required to follow applicable legal guidelines regarding late fees and repayment.
Failure to Repay
If you fail to make payments on your loan, you may be subject to additional charges or penalties. While we aim to connect you only with responsible and fair lenders, it’s important that you understand their collection policies, which should be outlined in your loan agreement.
Loan Extensions and Renewals
State laws determine whether a loan can be rolled over or renewed. In states that permit these extensions, your total repayment amount may increase significantly due to additional interest and late fees. Always check local regulations and lender policies before agreeing to a rollover or renewal.