Installment loans and payday loans are what they call small-dollar, high-cost loans. They usually carry high interest. Borrowers are typically low in income or having a poor credit or having a little credit history. Subprime borrowers might not have access to other forms of cheaper consumer credit like credit cards or home equity loans through credit unions or banks. 

If you need extra cash, getting a loan might be overwhelming at first but after thinking of the amount that you need and how soon you will need it, you might want to check your credit score and break down your available option. if you are needing a large amount of money in a little amount of time and a bad credit score, this narrows down your option to loan installment utah or a payday loan.  Read more to able to understand what the difference between these two types of loan is, and what is the best for you. 

Installment loan 

Loan amount ranges from $150 up to several thousand dollars, principal amount, interest and other finance charges are being paid in fixed monthly installments and ranges from six months to a few years. This type of loan could be renewed in a few months with new interest, fees and credit insurance. The loan amount usually resets to its original amount borrowed or increased. An installment loan is typically secured by a property excluding real estate. Collateral may include consumer electronics, cars, power tools, jewelry, and firearms.  

Payday  

Payday loan usually ranges from a hundred dollars to $1500. This type of loan is short term and must be paid in full within 30 days or less. It’s commonly due immediately after the receipt of the borrower’s paycheck. It is repaid through post-dated check which the borrower provide after the loan has been made or it can be an automatic withdrawal electronically after the paycheck has been deposited directly in their bank account. Lender charges fee for the loan and can be calculated as annual percentage rate. A typical payday loan goes like when your principal amount is $100 that will due in two weeks with a fee of $15. The loan would carry an annual percentage rate of 390%. 

The loan is typically unsecured that the lender only asses the borrower’s capacity in paying the loan based on the condition of the previous paychecks. The loan is often rolled over in full upon due and if the borrower can’t pay the amount, the borrower will pay for additional fees and still owes the original loan amount for another month.   

Here are some things to consider in choosing whether a payday loan or an installment loan to determine which one do you really can handle: 

If you need only a small amount quick, a small expense you may consider payday loan but id the amount is too much to pay for a single payment, go with an installment loan. Credit rating doesn’t matter in installment and payday loans when borrowing but if you fail to pay on time with these two types of loan, this will reflect on your credit score negatively. Payday loan may not necessarily affect your credit score but an installment loan, paying on time can help provide a positive feedback on your credit score.   

The type of loan you need depends on what will work for you. Take time to check your financial situation before making a decision. 

The flooring type you choose can make a big difference in the finishing and appearance of your home. Flooring that looks great can improve the home’s value and can potentially attract new potential buyers. But, not every builder knows how to install or select the best flooring.  

Here are some of the famous types of flooring and learn how to select the best one for you: 

1. Ceramic Tile 

Ceramic tile is the ideal substitute if you require flooring that needs waterproofing. Ceramic tile could be utilized as countertops, indoor floor tiles, or outdoor floor tiles. Several kinds of ceramic tiles with high-gloss finish will eventually scratch in the long run.  

For outdoor flooring with the chance of standing water, ceramic tiles with unglazed finish are the ideal option. Few of the most famous available finishes are textured, glazed, embossed, and matte.  

1. Hardwood Flooring 

Hardwood flooring is one of the popular types of flooring. This displays a mixture of durability and beauty that are not often seen to any other types of flooring. This type of flooring comes in Hickory, Walnut, Birch, Pine, Oak, Cherry, Beech, Pecan, Maple, and etc. 

Hardwood flooring offers a wear resistant and long-lasting surface that can be refinished if required. But, particular hardwood flooring types may darken over time and few other can expand and shrink generating gaps in the surface of the floor. 

1. Laminate Flooring 

Laminate flooring is one of the most inexpensive types of flooring available. It could also be maintained very easily. This type offers a durable and strong surface that could resist chips, scratches, and burns. It is a great option for areas that have high traffic. It comes in a huge range of designs and colors and resembles natural materials.  

But, laminate flooring can be easily scratched and can’t be refinished. Choose laminates developed for particular use if you want to install it in rooms with high moisture. Over the years, laminate flooring has gain a lot of popularity, maybe because it might be simpler to maintain or install than more traditional flooring, like hardwood. 

1. Marble Flooring 

One of the most versatile and durable tiles to utilize are marble tiles. They could be utilized for your hallway columns, walls, and floors. The tiles are maintained and cleaned easily. Also, they’re really simple to engrave with stylish designs and textures that fit your preferences. 

Marble tiles come in a lot of colors and make a sophisticated hallway. It comes in a huge variety of colors and is utilized in a lot of ways.  

1. Cork Flooring 

This type of flooring is a good option for commercial spaces and play areas where there’s a need for a comfortable standing and walking. This type of flooring is not cheap, however. The price varies depending on the color and characteristics of the materials.  

As what we have mentioned above, not all builders know how to install different types of flooring. So, if you have a flooring project, simply visit www.floorPros.com.au.