Would you accept this offer?

Discussion in 'Questions From New Drivers' started by Solo Soul, Jul 21, 2021.

  1. Solo Soul

    Solo Soul Medium Load Member

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    SBA offered me a 30 year loan of $20k at 3.75% last year in July. I took out that loan. The monthly payment of $98 just started this month. Now they are offering me $100k more. Should I take it? The $20,000 is safe in my account. If I take this $100k too, I will have $120k to put down on a house in 2 years.
     
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  3. Solo Soul

    Solo Soul Medium Load Member

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    I don't think they will audit me for just $120k. Even if they audit me after 2 years, I will still have their money. I can give it back to them.
     
  4. Cattleman84

    Cattleman84 Road Train Member

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  5. Solo Soul

    Solo Soul Medium Load Member

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    My credit score is not great, and I don't have money to put down. My trucking career hasn't started yet. I got my permit and physical. I am going to Wilson in Montana for training next month.
     
  6. Solo Soul

    Solo Soul Medium Load Member

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    SBA didn't run a credit check on me. They give this loan to everybody lol.
     
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  7. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    That list they keep to harvest people's organs.........it's not real.
     
  8. Cattleman84

    Cattleman84 Road Train Member

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    Do you have a 401k you could cash out for a down payment? Thats how I got the down payment for my house last fall. It wasnt enough to get the 20% needed to avoid mortgage insurance... But it got me the house.

    As far as the SBA loan... Thats out of my realm of knowledge
     
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  9. Solo Soul

    Solo Soul Medium Load Member

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    401k, are you kidding? 28 year old delivering food can't have a 401k.
     
  10. Judge

    Judge Road Train Member

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    No.

    I personally wouldn’t.
    I don’t like borrowing money.
     
  11. Cattleman84

    Cattleman84 Road Train Member

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    Get one ASAP... You would be suprised how fast it will grow. Mine was over $15k after just 4 years.
     
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