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Can I Get a Personal Loan While Unemployed?
- Loans from friends or family members – If you know someone who’s financially comfortable, you might be able to arrange a no-interest or low-interest personal loan.If you go this route, however, be certain you can afford the loan. Avoid any strained relationships or hard feelings by keeping up with the payment schedule.
- Home equity loan – If you own a home, you may be able to tap into your equity. While these loans tend to come with lower interest rates, the downside is that your home serves as collateral, giving the lender the right to foreclose if you default.
- Car title loan – With a car title loan, you use your vehicle as collateral to secure the loan.