just military loans
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The Facts About Military Loans
Frequent moves, deployments, and military spouse unemployment can take a toll on the financial health of military families. Many live paycheck to paycheck and are unable to build up a substantial savings account or emergency fund. Having to come up with money to pay for a car repair, PCS-related cost, an uncovered medical bill, or other expense can compound already stressful circumstances. If you are a servicemember and find yourself in this situation, a military loan can help.
What is a military loan?
A military loan is a personal loan designed especially for active duty servicemembers. At Omni, we are proud to offer military loans to active duty members of the following military branches:
Military loan eligibility
If you are currently serving in one of the above branches and have at least eight months before your separation date, you are eligible to apply for an Omni military loan. We also provide military loans for career retired military personnel.
Applying for a military loan
Applying for an Omni military loan is easy and we offer several options. You can apply online, over the phone, or at one of our branch locations serving all military installations around the world. Even if you are stationed overseas, you can still apply for a loan.
You will receive a confirmation of your online application, as well as other updates, at the secure message center.
Required information and paperwork
- Social security number
- End of month LES statement
Free credit report
As part of the application process, we will be accessing your credit report which details your credit history. You’ll receive a free copy of this report automatically upon completion of an online application. If you applied in person, you can request your free credit report at your local branch office.
Security and privacy
At Omni, we take your security and privacy very seriously. In order to apply for a loan, you will need to disclose some confidential and personal information. Whether you apply online, over the phone, or in person, you can be confident that your information will be safe and secure.
The advantages of an Omni military loan
Military loans from Omni provide a financial helping hand to military members. Some of the main advantages of using Omni for your lending needs include:
Flexible amounts – You can borrow as little as $500 or as much as $10,000.
Convenient – Apply online, over the phone or in person.
Fast approval – We understand that when you need money, time is of the essence. That’s why our approval process is fast. In many cases you can receive loan approval and funding within hours.
Responsible lending – While we do our best to approve your requested loan amount, we look at your ability to repay the loan before determining the amount you can borrow.
In your community – We are one of the only military lenders that has actual brick and mortar locations. Our branch offices are located near all military installations around the country and we are proud to give back to the communities where we live and serve. Stop by any time to ask questions, apply for a loan, or get more information.
Qualifying for a military loan
To determine if you qualify for a loan, we look at several factors including your debts, income and credit history. We also realize that some military members have poor credit—this is not an automatic denial. Most of our lending specialists are former military and they understand the military lifestyle challenges that can sometimes affect a person’s credit score. We look at loan applications on a case-by-case basis and will take certain things into consideration.
Receive funds fast
The entire process from application to funding can be completed fast, depending on when we receive your application and any required documents. Omni Financial offers easy ways to receive your funds.
Direct Deposit – We can deposit your funds into any stateside checking or savings bank account, and most U.S.-based banking institutions overseas. Once your funds are credited, they will be available for immediate withdrawal. You’ll pay no check cashing fees.
Instant access – An even faster way to receive your funds is with an optional prepaid debit card available through selected Omni offices. You’ll be able to use your funds immediately.
If you live near a select Omni branch, you can stop by and pick up a Money Network® Prepaid Debit Card and Money Network ® Checks. You’ll have easy access to your money* and be able to make purchases anywhere Visa® debit cards are accepted, or get cash back with PIN debit purchases.
Our loans have federal APRs that range from competitively low digits percentages to a maximum of 35.95%. Rates vary and are dependent on credit score, debts, the amount and length of the loan, and past credit history. When compared to other military loan companies, you’ll find that Omni’s interest rates are very competitive.
Paying back an Omni military loan
Omni loans are installment loans. You’ll have fixed monthly payments so you’ll know just how much you’ll be expected to pay back each month. Repayment terms range from 6 to 36 months. Upon approval of your loan, you’ll receive documents that will tell you the duration and the schedule of your loan repayment. That means there will be no surprises and you’ll be better able to budget yourself.
Omni makes paying back your loan as easy and hassle-free as possible. We accept payments by cash, check, money order, draft, ACH or the most convenient method, military allotment. With a military allotment, your payment is automatic and always on time, no matter where you are in the world or what you are doing.
The Omni guarantee
As a leader in the military lending market, we are dedicated to providing professional, personalized service. As part of our commitment to customer service, we back all our loans with a 100% 15-day satisfaction guarantee. If for any reason you change your mind or are not satisfied with your loan or our service, you can cancel your transaction within 15 days. No questions asked and at no cost to you.
The Omni legacy
Omni has proudly served the military for over 45 years. We were founded by a World War II veteran who saw that there was a need to help members of the U.S. Armed Forces obtain a personal loan, easily and quickly. We have branch offices throughout the United States and the world, and were one of the first online military lenders. Since our inception, we have provided military loans to hundreds of thousands of U.S. servicemembers. If you need financial assistance or would like to consolidate debt, contact us today and we will be happy to help you!
Five easy steps to getting an Omni military loan!
- Apply online, in person, or over the phone
- Upload an end of month LES statement
- Our lending specialists will review and process all your information
- Receive your loan decision within hours
- Funds will be deposited into your bank account or alternatively you can choose to use the money network ® Prepaid Debit Card*.
*Using the Money Network ® Prepaid Debit Card is subject to identity verification as required by the USA PATRIOT Act
* Available from selected Omni offices.
just military loans
Student Loan Consolidation
Consolidation Loans combine several student or parent loans into one bigger loan from a single lender, which is then used to pay off the balances on the other loans. They also provide an opportunity for alternative repayment plans, making monthly payments more manageable.
Consolidation loans are available for most federal loans, including Stafford, PLUS and SLS, FISL, Perkins, Health Professional Student Loans, NSL, HEAL, Guaranteed Student Loans and Direct loans. Some lenders offer private consolidation loans for private education loans as well.
The interest rate on a consolidation loan is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8 of a percent. That interest rate is fixed for life.
For example, suppose a student has just unsubsidized Stafford Loans originated on or after July 1, 2006. These loans have a fixed interest rate of 6.8%. When they are consolidated by themselves, the consolidation loan will have an interest rate of 6 and 7/8ths of a percent, or 6.875%. So the interest rate increases only slightly.
If the borrower has a mix of loans with different interest rates, the weighted average will be somewhere in between. For example, if the borrower has $5,000 of Perkins Loans (at 5.0%) and $10,000 of unsubsidized Stafford Loans (at 3.86%), the weighted average is
This weighted average, 4.2%, is then rounded up to the nearest 1/8th of a percent, yielding a consolidation loan interest rate of 4.25%.
If you are consolidating loans with different interest rates, the weighted average interest rate will always be in between. Don’t be fooled if someone tries to suggest that this will save you money by getting you a lower interest rate. The interest rate may be lower than the highest of your interest rates, but it is also higher than the lowest of your interest rates. More importantly, the amount of interest you pay over the lifetime of the loan will be about the same.
No Cost to Consolidate
Aside from a slight increase in the interest rate on the consolidation loan, there is no cost to consolidate your loans. There are no fees to consolidate.
Under no circumstances pay a fee in advance to get a federal education loan or consolidate your federal education loans. There are no fees to consolidate your loans. While other federal education loans, such as the Stafford and PLUS loans, may charge some fees, the fees are always deducted from the disbursement check. There is never an upfront fee. If someone wants you to pay an upfront fee, chances are that it is an example of an advance fee loan scam.
Who Can Consolidate
Both student and parent borrowers can consolidate their education loans. Students and parents cannot combine their loans through consolidation, since only loans from the same borrower can be consolidated. But they can consolidate their loans separately.
Students can consolidate their education loans only during the grace period or after the loans enter repayment. Loans that are in default but with satisfactory repayment arrangements may also be consolidated. Students can no longer consolidate while they are still in school. Parents, however, can consolidate PLUS loans at any time.
Which Loans Can be Consolidated?
Any federal education loan can be consolidated. You can even consolidate a single loan. There are, however, a few restrictions on consolidating a consolidation loan.
You can consolidate a consolidation loan only once. In order to reconsolidate an existing consolidation loan, you must add loans that were not previously consolidated to the consolidation loan. You can also consolidate two consolidation loans together. But you cannot consolidate a single consolidation loan by itself.
Note that when you reconsolidate a consolidation loan, it does not relock the rates on the consolidation loan. The consolidation loan is treated as a fixed rate loan within the weighted average interest rate formula used to calculate the interest rate on the new consolidation loan.
Consolidation loans provide access to several alternate repayment plans besides standard ten-year repayment. These include extended repayment, graduated repayment, income contingent repayment (Direct Loans only) and income sensitive repayment (FFEL only). If you do not specify the repayment terms, you will receive standard ten-year repayment.
Consolidation loans often reduce the size of the monthly payment by extending the term of the loan beyond the 10-year repayment plan that is standard with federal loans. Depending on the loan amount, the term of the loan can be extended from 12 to 30 years. The reduced monthly payment may make the loan easier to repay for some borrowers. However, by extending the term of a loan the total amount of interest paid over the lifetime of the loan is increased.
You do not need to pick an alternate repayment plan. We recommend sticking with standard ten-year repayment, because it will save you money. The alternate repayment plans may have lower monthly payments, but this increases the term of the loan and the total interest paid over the lifetime of the loan.
Repayment on a consolidation loan will begin within 60 days of disbursement of the loan, unless the borrower qualifies for a deferment or forbearance.
Military Auto Loans for All Types of Credit
Military auto loans are advantageous over regular car loans. Some people even think that the offers in military car loans are unfair compared to regular auto loans. The truth is, it is not unfair. As mentioned earlier, auto loans for the military are specially designed for them. It also serves as thanks to the exceptional work they are doing for the country. Here are some of the great benefits that you can enjoy with a military auto loan.
A military car loan naturally has low interest rates. Low here means lower than the interest rates offered in regular loans. This is possible because military lenders consider military work as stable job. Consequently, your income is also deemed as stable. Remember that these two factors are greatly considered by lenders when they are approving a loan application for a low interest rate. With the kind of job that you guys have, military lenders feel financially secured. This means that they are somehow given the assurance that there will be regular payments. Also, you will be able to save up a lot of money with low interest rates.
Another amazing thing about car loans for military is borrowers like you get easily approved. The reason for this is the low credit score requirement. The credit score which is considered bad in regular car loans is a good credit in military car loans. This is a result of the considerations that military lenders make. We consider your changing of locations from time to time and being designated in remote areas which mainly hinder you from making payments on time. We at militarycarloans.net know that your nature of work makes it hard for you to build a good credit. That is why the credit score requirement is lessened.
You also get to enjoy flexible payment terms. This includes the loan term and repayment terms. You can choose to make payments in a longer period of time. If you do this, your monthly payments are made less. You would not have to worry about paying quite a large amount every month. You can also appeal for a more convenient repayment terms. We can give you an option to delay your payment in times when it is impossible for you to do so. We do not penalize military borrowers here. We at militarycarloans.net are here to help! We know that due to the demands of your job, there would not be any banks accessible for you to make your payments. That is why you have the option to delay the payment. Borrowers in regular loans normally get penalized for missed payments.
Military auto loans are extended to all members of military service as long as they are in active service. Some loan companies specializing in military car loans consider a military member who was just recently enlisted as eligible. The time period of active service required for military auto loan eligibility varies in different loan companies. The credit report is not really as significant as it is with regular auto loans. Veteran military members can also take advantage of this type of loan. The car loan offers for them are more advantageous.
Are not these benefits overwhelming? You know where to find them. Military auto loans are available online and you can easily browse their offers. The application process is also easy. This is because the process does not undergo a lot of steps before they give you the result.
#loans for military
Of particular interest is the Survivors’ and Dependents’ Educational Assistance Program (DEA). It provides up to 45 months of education and training opportunities to eligible dependents of certain veterans. To be eligible, you must be the son, daughter, or spouse of a veteran who died or is permanently and totally disabled as the result of a service-connected disability, or who died while such a disability was in effect, or is MIA or captured in the line of duty by a hostile force, or is forcibly detained or interned in the line of duty by a foreign government or power. Sons and daughters must be between the ages of 18 and 26. Spousal benefits end 10 years from the date the VA finds the spouse as eligible or from the date of death of the veteran. To apply, complete VA Form 22-5490, Application for Survivors’ and Dependents’ Educational Assistance. For more information, call 1-888-GIBILL-1 (1-888-442-4551).
Updated annually by the Department of Veterans Affairs (VA), the publication Federal Benefits for Veterans and Dependents contains information about education and training benefits available to veterans and eligible dependents. [VA Pamphlet 80-02-1, 114 pages, Stock Number 051-000-00225-3.]
The booklet may be obtained free of charge from VA hospitals or regional offices. To request a copy, visit your nearest VA facility, call 1-800-827-1000 or write to Department of Veterans Affairs, Office of Public Affairs (80D), 810 Vermont Avenue, NW, Washington, DC 20420. It is also available for download free in PDF format from the VA’s web site.
The publication can also be purchased for $5.00 ($6.25, international customers) from the US Government Printing Office, Superintendent of Documents, PO Box 371954, Pittsburgh, PA 15250-7954.
Other organizations that offer educational assistance to military personnel, veterans and their dependents include:
Loans for Military with Challenged or Bad Credit
When you are in the military, your life is challenging enough. One thing you don t need is hassles when it comes to obtaining a personal loan. At Omni Financial ®. we understand that not everyone has perfect credit. That s why even if you have what most lenders consider to be bad credit, a military loan from Omni may still be within your reach.
We look at every loan application individually on a case-by-case basis. This is important because active duty personnel like you face certain challenges that most people never have to worry about; challenges that can sometimes affect your personal credit, like deployments, frequent moves, and more.
Because most of our lending specialists are former service members, we understand these issues and can empathize with your situation. In other words, we ve been in your shoes. When deciding if you qualify, we take into account many factors – not just your credit score. We’ll do our best to help you obtain the loan you need at a repayment schedule you can afford.
Restore Your Financial Standing
A loan for military members with challenged or bad credit can not only help you acquire the funds you need, but it can also help you reestablish you financial standing. With loans available from $500 to $10,000, you can work towards restoring your credit while receiving the funds you need for emergencies, school, travel, bills, expenses, or any other reasonable purpose.
We back all challenged or bad credit military loans with courteous, personal service and a 100% satisfaction guarantee. If for any reason you are not satisfied with your loan or our service, or you simply change your mind, you can return the proceeds of the loan within 15 days and we will cancel it at no cost to you and with no questions asked.
#omni military loans
Just Military Loans
Worst Company EVER. Just Military Loans
By Jose – 08/15/2012
Rating: 1 / 5 1
WILMINGTON/SANDY SPRINGS, DELAWARE — Just military loans is by far the worst military “friendly” loan company in the whole United States if they were an international financial institution it would be in the whole world. Fast Loans? yeah right. There is not words to describe the magnitude of bad service and poor management these people offer to our service member not to mention the outrageous APR they charge you oviously to get you into more debt in the future. Their slogan “Serving those who serve” please remove that out of your website is more like screwing up those who serve. This following message is for you Just military loans and their Staff.
Answer me this question. How does it feel to scam the people that protect this country with their own blood and sweat in the battlefield? how would you feel if I was your brother your sister your mother and you were giving me the type of treatment you give these service member would you sell an 70% 80% APR loan to your own mother?
We come back to the country we come from so that our fellow American can help us out not screw us over. Shame on you guys how do you even sleep at night from the CEO to the newest employee in this financial institution from the wealthiest investor to the least one. I can’t believe this is the kind of people I risk my life for out there in the field.
I thought to myself you guys were living to your motto to your slogan but I guess I was wrong. But you keep what you doing. One of these days you will hear from the Distric and State attorney along from the president of the United States Himself. Companies like yours shouldn’t be on business. Taking advantage of those in need.
#loans for military
Loans For Military introduces itself as a trustable loan arranging company. Our services are available for arranging a variety of loan options, including military loans, loans for military, bad credit military loans, no credit check military loans, military payday loans and military signature loans.
Loans For Military has expanded its services all over the nation, which empowers us to serve all customers in a better way and borrowers can make an application with us from any part of the country.
We, at Loans For Military, do not follow any time constraint when it comes to the application process. Therefore, whenever you want you can make an application with us just by submitting our online loan application form. We offer our services 24 hours a day, 7 days a week and 365 days a year. Therefore, whenever you need our assistance in order to smooth out your lending process, you can contact us.
We, at Loans For Military, can arrange loan deals for all kinds of borrowers, including those who are suffering from bad credit problem. There is no credit checking process with us and in addition, we do not charge any application fee from the borrowers as well.