Residents of Laytonsville, Maryland do not have to look very far to find low interest rate loans. Although some may qualify for low interest rates on loans it is important to distinguish that bad credit borrowers are ging to find it quite difficult to get low interest rates on personal installment loans. The general rule of thumb is that individuals will receive an interest rate relative to their credit score. The higher the credit score the lower the interest rate. That being said there are many bad credit loans available near Laytonsville.
What Banks Can Help With Bad Credit Loans?
Laytonsville, MD is just a short drive from Gaithersburg and there are multiple banks options in this particular city. Some of the bank names include Damascus Community Bank, M&T Bank, Capital One Bank, SunTrust Bank, Wells Fargo, PNC and Sandy Spring Bank. All of these lenders are insured by the FDIC and they will likely have personal loan products. This does not necessarily mean that they can help all bad credit borrowers.
Although the estimated median household income in 2009 was $104,384 there might still be some borrowers looking for ways to get their hands on quick cash. If you are finding it very difficult to qualify for a bad credit loan in 2012 then you may want to consider some online options. There are hundreds of online lenders that have been willing to help borrowers with a credit score below 600 or 500. Note that a high interest rate will likely be applied to these types of loans. Remember that storefront payday loan or cash advance loan lenders are not permitted in the state of Maryland so you may need to seek an installment loan for bad credit.
Rent to Own Options for a New TV, Appliance or Piece of Furniture
If you are looking to avoid an installment loan you may consider renting to own. Remember that renting to own is like taking out a loan as you will be making monthly payments over time. That being said, you will be able to avoid going to the bank as you can finance rent to own TVs, appliances, furniture, laptops and computers at the store. There is an Aarons location in Laurel and Tacoma Park, Maryland. There are two Rent a Center locations in Gaithersburg and one in Silver Spring. These are the two biggest names for rent to own options but remember that ColorTyme and RimTyme is owned by Rent a Center. Always look at all financing options before going down the rent to own path.
Cash for Gold at a Pawn Shop Near Laytonsville, MD
If you are desperate and you absolutely need some cash right now you may want to consider selling your gold jewelry or silver coins. You may find that you can make a few hundred bucks by doing this. Rather than taking out a $1000 or $2000 installment loan a pawn loan or cash for gold might be the way to go. Maryland Exchange Co is available in Gaithersburg. You may also want to check out Famous Pawnbrokers and SC Diamonds And Gold in Germantown, MD. All of these stores should help you get some extra money for your gold or silver in 2012.