A tenant loan is an unsecured personal loan for people who do not own real estate to use to finance their new motorcycle, car, vacation or any other investment. It is specially created for tenants, people who are not homeowners and live under the roof of somebody else. If you qualify as a tenant than you can borrow money in the range of 1k to 30k, all depends on how much money you are making and how healthy your personal finance is.
When you apply for a tenant loan online, the company will look at how much money you are earning every month but also consider your monthly expenses. Besides that they will also check your FICO credit score which is an important numeric value that states how credit worthy you really are. If you have a very high score (between 650-800) than you will have no problems getting a beneficial loan because you will be able to borrow a high amount of money against acceptable interest rates. But if you have a very low score (around 500) than it will be very hard to find a loan that will accept you as a tenant and if you do obtain a loan than you have to pay very high interest.
You should always go for multiple quotes from different companies in order to compare them and seek out the one that fits your personal finance best. You should look at the interest rate of the loan, is it a fixed one or variable one, and you should always look at the terms of repayment. Longer repayment terms are accompanied with low monthly installments but in the end you pay higher interest in total. You should always go for terms that are acceptable to you but always be careful you do not pay too much interest.
You might also look in to the small letters that state what happens when you miss a payment or when you want to repay your remaining loan. Some companies will increase interest rates when you miss an installment and ask for a fee if you want to repay the remaining loan.