Albert asked:


I’d like to purchase a townhome or condo in about a year or so. I don’t have much in savings, and will be free of credit card debt soon. I have a great FICO score (720), and I’m GUESSING that I will be able to secure at least a $150000 loan from my credit union. I won’t be looking for a place more expensive than that.

My question is this : as far as the down payment goes, should I add that in to my loan application? In other words, if the townhome is $150000 and the down payment is $30000, do I need to request the $30000 up front, or do I need to be able to pay the downpayment with cash or other liquid assets? I hope I made this clear.

secured loan

Ryan asked:


1.im 18 i have a secured credit card so im getting good credit fast but i was told u cant get a unsecured (real) credit card unless u have gotten like a loan and payed it off with good history is this true

2. and if it isnt true is it possible to build credit from paying of a loan

3. which loan would help me build credit a secured or unsecured credit card and why

4. and if i just want to get a small loan for no real reason other then the fact i just want to use it to build credit will can i just tell the bank that and they will understand ?

secured loan