Secured Loans---How to Write a Effective Request Letter For a Bank Loan

There are several banks & mortgage companies in the US that are willing to give loans. But now as almost all US people are running through bad credit scores getting a loan is indeed not easy. The mortgage companies and banks have become too cautious particularly about the sub prime loans. And now with the Federal Government policies coming in to help the home owners and other with various grants, loans and loan modifications, the private firms seem to have become even more reluctant. How ever, the first step to get a bank loan is to approach the bank with a loan request letter.

Tips To Write Home Loan Request Letter

Here are some tips that would help you draft an effective Home Loan Request Letter:

· First and foremost the letter must be readable. In case your hand writing is not good enough, get it typed.

· While sending the letter, mail it only through a registered mail service.

· Also make sure that you get a receipt of receiving of the same.

· Coming to the content of the letter, it must be drafted in a formal manner.

· It must include you name, address, contact number, profession / occupation, etc.

· You are eligible to apply for any loan only if you are a US citizen, above 18 years of age and your need of the money is valid & legal.

· The letter must also comprise of your monthly income, monthly expenses and the need of money.

· Also furnish documented proofs of all details that you mention in the letter.

· Draft the letter as concise and to the point as possible.

· In case you have bad credit scores, do not lie. Mention the same and also give reasons for it. There are several people with bad credit scores owing to the slump in the economy.

· The letter must show your commitment to get the loan and return it back on time.

· In this letter make sure that you mention the amount of monthly payments you can afford to pay in the long run as well.