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Borrowing from a Loan

I got a loan from a financial institution, and made payments on time every month for six months. Will I have trouble borrowing more money from the loan?


There are more variables than this in the loan qualification process, but you are on the right track. Paying on time is critical.

Questions that need to be asked are: how much will you qualify for now, what is your income and indebtedness, what is the money for, etc. Six months is not a lot of time and won't automatically mean you qualify for a new loan.

Published on BankingQuestions.com 10/22/09