Answers to common questions about our loan consulting services in the United States.
No. Andrew Steinmeyer Loan Consulting is an independent advisory firm. We do not originate, underwrite, or fund loans. We connect you with licensed banks, credit unions, and online lenders and help you compare their offers. All lending decisions are made by those institutions.
Requirements vary by loan type and lender. Personal loans are often available from 580+ FICO, though better rates typically require 670+. Mortgages may accept scores from 580 (FHA) to 620+ (conventional). During consultation we assess your profile and recommend realistic options without unnecessary hard credit inquiries.
Common documents include government-issued ID, Social Security number, recent pay stubs (30 days), W-2s or tax returns (2 years), bank statements (2–3 months), and proof of address. Self-employed borrowers may need profit-and-loss statements. Business loans require additional entity documents. We provide a customized checklist for your application.
Personal loans: pre-qualification in minutes, funding in 1–5 business days. Auto loans: same day to 1 week. Mortgages: 30–45 days on average. SBA business loans: 30–90 days. We set realistic expectations based on your loan type and lender workload.
Unsecured loans (most personal loans) do not require collateral but often carry higher rates. Secured loans are backed by assets—your home (mortgage, HELOC), vehicle (auto loan), or savings (secured personal loan)—which typically lowers interest rates but puts the asset at risk if you default.
Pre-qualification often uses a soft inquiry that does not affect your score. Formal applications trigger a hard inquiry, which may lower your score by a few points temporarily. We help you minimize unnecessary hard pulls by comparing options strategically before you commit to one lender.
Lender fees may include origination fees (0–8% of loan amount), appraisal fees (mortgages), and closing costs. Our consulting fees are disclosed in writing before you engage our services. We explain APR versus interest rate so you understand total cost of borrowing.
Many personal and auto loans have no prepayment penalty, but mortgages and some business loans may include prepayment clauses. We identify lenders and products with favorable early payoff terms when that is important to you.
Yes. We consult with borrowers nationwide. Some lenders are not licensed in every state, so available products may vary by location. We account for state-specific regulations during our recommendation process.
Debt consolidation combines multiple high-interest debts into one loan with a single monthly payment. It works best when the new rate is lower than your weighted average and you avoid accumulating new debt. We run the numbers to show whether consolidation saves money over the life of the loan.
Fill out our contact form or email contact@andrewsteinmeyer.com. We will schedule your free initial consultation and outline next steps based on your goals.
Absolutely. We follow our Privacy Policy and use encrypted channels for sensitive documents. We do not sell your data to third-party marketers.
Denials happen for reasons including insufficient income, high debt-to-income ratio, or limited credit history. We review adverse action notices with you, identify improvement areas, and create a plan—whether that means a co-signer, secured product, credit repair timeline, or alternative lenders.
No. No ethical consultant can guarantee approval. We maximize your chances by matching you with appropriate lenders and ensuring complete, accurate applications—but final decisions rest with lending institutions.
We charge disclosed consulting fees for our advisory services. Any referral arrangements with lenders are disclosed in writing. Our recommendations are based on your best interests, not hidden commissions that bias our advice.