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  • Hello, Great to see you here.

  • Applying for a loan is a tedious process. I’m sure those of you who have already applied for a loan before will agree.

  • You need to prioritize and plan for getting a loan, and you need to be sure that you can repay the loan.

  • This lesson shows some conversations that revolve around applying for a loan.

  • Practice the lesson by saying the dialog out loud several times after hearing it.

  • To increase your vocabulary, remember to practice the words in the vocabulary section at the end.

  • Let’s get started now!

  • I need to get a home loan.

  • Are you planning to buy a new property?

  • Yup. But, I’m not sure how to go about the whole loan thing.

  • Well, when I decided to get an auto loan for my car, I researched a lot first to make sure that I knew what it was all about.

  • What kind of research?

  • To begin with, you can look for banks or other financial institutions that make home loans.

  • One thing youll want to do is compare the rate of interest theyre charging on your principal amount so you can decide which is the best.

  • I have no idea how I should choose a particular bank to apply for a loan.

  • You just need to keep your priorities straight and focus well.

  • What do you mean?

  • Well, interest rate, bank reputation and loan term are three main factors that will help you make a choice.

  • Try to choose a bank that is ready to provide you with the best service at the lowest interest rate.

  • What should be included in the best service?

  • For me, one thing is the flexibility to repay the entire principal amount as soon as I want without a penalty.

  • It also means friendly people who can answer your questions clearly.

  • My name is Harvey Mathews and I want to apply for a home loan.

  • Please have a seat. Have you filled out the loan application form?

  • Not yet. I just want to confirm a few things before I move ahead.

  • What would you like to know?

  • I wannna know how long it takes for loan approval and also if the interest rate increases or decreases during the loan term?

  • Well, first of all, the loan approval procedure takes 15-30 days and depending upon the information you provide.

  • And we provide both fixed interest rate and adjustable interest rate loans.

  • Yes, we do.

  • All the terms and conditions of both types of loans are in the document you receive along with the application form.

  • How do the banks give me the loan amount?

  • They don’t pay the loan amount to you.

  • They pay the money to the owner of the property you are buying.

  • So I’ll never even get to see that big amount of money?

  • Not until youre the one selling the property!

  • Interest is the cost of borrowing the money.

  • It’s a percentage of the loan amount that is charged extra by the bank till the time you keep the borrowed money.

  • The amount that the bank loans is called the principal amount.

  • A priority is a thing that is most important to you.

  • Is your priority having the biggest house, or having enough money left over to buy gifts for your family?

  • You need to complete all the formalities at the bank and get the bank authoritiesagreement to provide the loan.

  • That is known as getting approval.

  • Generally you pay your loan over a period of time which is called the loan term.

  • For a house, this time usually ranges from 15 to 30 years. For a car, it might be 1 to 5 years.

  • I hope youve had a great time watching this lesson.

  • Well be back with a new one tomorrow. Make sure you come back for it!

  • Please don’t forget to hit the like button and let us know your thoughts!

  • Also subscribe to our channel and get regular updates about our lessons.

  • Have a good day. Later!

Hello, Great to see you here.

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A2 初級 美國腔

金融英語對話 - 申請貸款 - 在線英語課程 (Financial English Conversations - Applying For Loan - Online English Lesson)

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