Military loans are commonly used by active duty members with less than 6
years in service. Many armed forces members use military loans because
they are facing an emergency family crisis, uncovered medical bills, car
repairs, extra funds for school, moving (PCS), vacation or just help to
cover bills. Young service members are faced with the dilemma of "not
making enough money", you are serving your country 24 hours/7 days a
week, but only get paid close to minimum wages.
Some military bases don't have enough housing to accommodate new
service-members and their families. Getting a military loan can make a
significant difference in this stressful transaction. Military loans can
help pay for the down payments on an apartment or a house. A military
loan can get the house-hold started with getting the electricity
connected, cable set up, some groceries in the fridge or just knowing
that you have extra cash in your pocket. PCS is the most stressful
transaction a military member and their families has to face.
Getting ready for a deployment is another hot topic that military
members are facing today, and some don't have enough cash to make this a
easier time. Military loan can play a huge difference! Military loan can
help pay for the storage of your vehicle, storage of your personal
belongings, money for family, money for travel, money to buy personal
things that the military don't issue.
Military loan can help pay of a laptop that can make a world of
difference while deploy in the middle-east. Having a constant
communication with family back home is very important. Many young
service-member don't have computers for their families to use so that
they can communicate. Military loans can help ease some of the pains by
making it easier to purchase computers.
Military loans can benefit any rank in the armed forces. Service members
are faced everyday with the stress of not making enough and being able
to live. Military loans can help when faced with stressful situations.
There are many lenders that has great
programs for military loans. Most active duty loans require the member
of Force, Marines, or other branch of the military up to one year to pay
back the amount borrowed.
The payments can be made a number of ways, which are totally up to you
in most cases. You can pay monthly, weekly, or through your paycheck. It
just depends on how you would like to set it up. Allotments are the most
common way to pay back your military loan. Late fees are not an issue if
you have the amount taken out of your military paycheck. Some companies
will require that you pay back your loan this way. They know the money
is coming; you donít have to remember to write a check each month.