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Other common uses for personal loans

Financial Advice


Articles and research about personal finance

More ways you can use your personal loan funds

Financial Advice


Articles and research about personal finance

Common Uses for Personal Loans

Updated May 13, 2016

Even for those who budget and carefully save their money, unexpected financial expenses are an inevitable part of life. That's where personal loans and personal lines of credit come in! Personal loans and personal lines of credit at Amplify have fixed interest rates that are lower than most credit cards, making them a less expensive alternative to credit cards, payday loans, and other high-interest short-term lending options.

Depending on your situation and financial needs, a line of credit can provide the comfort of a financial safety net, whereas an installment personal loan will grant your funds all at once with an agreed-upon repayment term. The choice is yours!

Here are some common uses for personal loans:

Personal loans can help cover emergency education costs

Educational Expenses

Nothing is worse than needing extra funds to cover educational expenses at the last minute. If your student loan funds run out, or if you're looking for a cheaper alternative to a student credit card, a personal loan or line of credit with a fixed interest rate may be an option for you.

Instead of a swimming pool loan, use a Homeowner Express personal loan for your new backyard swimming pool

Swimming Pool Loans

From digging a giant hole in your backyard to landscaping and patio furniture, installing a new swimming pool is expensive. A Homeowner Express personal loan can help you get some of the best financing and interest rates available without putting a lien on your home.

You can use a personal loan to buy and install solar panels

Solar Panels

You’ve thought about how much money there is to save with a solar panel energy system, but the initial costs can be daunting. A Homeowner Express Loan can get you in the solar game and save you big money over the long haul without requiring a lien on your home.

Personal loans can help you finance new appliances for your home

Upgrade Appliances

Old appliances that use excessive amounts of energy are a drain on your overall cost of living. A personal loan can give your budget the boost you need to upgrade your appliances for better energy efficiency. If you're a homeowner, consider a Homeowner Express personal loan.

Update your computer, TV, and other technology with funds from a personal loan

Update Technology

Technology is advancing faster than ever, sometimes making it hard for our budgets to keep up. A personal loan or line of credit may be able to help you finance your new computer, laptop, or tablet.

Vacation homes are common uses for home equity loans

Car Repairs

Vehicle repairs are never fun, but they are an important part of maintaining one of our biggest assets. A personal loan or line of credit can help cover all or a portion of car repairs and large maintenance bills when your savings or when using your vehicle equity isn't an option.

Amplify Has Two Great Personal Loan Options!

There are countless other uses for personal loans. No matter how you decide to use the funds from your personal loan or line of credit, you can rest assured that you’ll save money by avoiding credit cards and other more expensive financing options.

Amplify's personal loans and lines of credit offer fixed interest rates for as long as you have the loan.

If you're a homeowner in the Austin, Round Rock, or Cedar Park, TX area, we recommend using our Homeowner Express Loan to save even more on interest.

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