There are a lot of money borrowing apps available online nowadays for your specific needs. For example, for buying a house, you have home loans, a vehicle, auto loans, college education, student loans, and the list goes on. So here are a few loans you can take according to your specific needs or purposes.

Pool Loans

If you want to attach a pool to your property, you might need to take up quick loans online. And collections can be costly, so it is a good idea to consider the resale values of your house after adding a pool to it. And as not everyone would want to own a collection, you could be stopping several people who want to buy your home in future if you plan to sell it.

Boat Loans

Boat Loans are available through banks, credit unions and online lenders and are specifically designed to finance the purchase of a boat. These loans can be unsecured or secured, using your boat as collateral for secured loans. As with any vehicle-related loan, it is essential to keep depreciation in mind.

Boats and other vehicles lose their value over time, especially if you buy a new ship. So if you choose a long-term loan, don’t make a substantial down payment or sell your boat soon after buying it, as it is possible to owe more on the loan than you can sell it.

Land Loans

People buy land to either build a house, harvest its natural resources, or lease it out to other people and businesses. But land can be costly, and that’s where a land loan comes in handy. Generally, Land loans come in two forms: improved and unimproved. Improved land loans are given on plots ready to be built. For example, these plots might have a well and septic tank already installed, or power lines or a driveway. On the other hand, unimproved land loans are for a story of vacant land, which may or may not be easy to access.

Family loans

Family loans are informal money lending that you get from family members. If you do not qualify for a loan from a bank or lender, you might choose to turn to your family. Family loans can be helpful as you do not need any credit to get one. If your family member trusts you and has the financial means to do so, they can choose to give you a loan. However, it is a good idea to draft and sign a loan agreement, which can include details like the interest payments, due dates, late fees or other consequences for non-payment. These draft agreements and payment calculators are found online.

Recreational Vehicle loans

Recreational Vehicle loans, also known as RV loans, can be unsecured or secured. Smaller RVs are usually unsecured and work similarly to a personal fast cash loan, while expensive, luxury RVs are guaranteed. Here the RV serves as collateral and works as an auto loan. You also need to keep depreciation in mind, especially if you are buying a new RV and plan to sell it at some point down the line.