SAN DIEGO - (Business Wire) FirstAgain
® LLC, an online consumer lender focusing on individuals with excellent credit, continues to gain momentum with an easier and faster way to fund anything, including home improvement projects. The company
’s AnythingLoan, a revolutionary, unsecured loan product that combines low rates with an unparalleled customer experience, is a convenient alternative to ever-shrinking home equity financing options.
As one of FirstAgain’s fastest growing loan categories, home improvement loans have achieved five-fold growth year-over-year. FirstAgain projects continued growth as adverse housing market conditions drastically reduce the availability of home equity loans. Home equity loans have been the nation’s primary source of home improvement funding for years. However, the amount of home equity loans accessed by homeowners dropped by more than 17 percent from $430 billion in 2006 to $355 billion in 2007, according to Integrated Mortgage Finance, a leading provider of residential mortgage statistics. That trend can be expected to continue as the Center for Economic and Policy Research reports the American housing market will lose $6 trillion in home values this year.
For Kelli Noonan of Encinitas, Calif., FirstAgain’s AnythingLoan provided a great alternative when her credit union turned her down for a home equity loan. “I thought if anybody was going to give us a loan it would have been our credit union, but it was FirstAgain who gave us the financing we needed,” she said. “I’ve had many different loans in my life and this was the easiest I have ever found by far. I couldn’t believe how easy it was.”
A completely paperless, online loan that allows borrowers the convenience of signing loan documents online using a computer mouse, the AnythingLoan provides between $10,000 and $100,000 for any purpose, including all types of home improvements. Customers can use the AnythingLoan to finance swimming pools, kitchen and bathroom remodels, solar panel installations, roofing and flooring, painting projects and more. Interest rates for home improvement loans are fixed as low as 6.99 percent. The unsecured loans also do not require liens on existing properties.
“FirstAgain rewards consumers with excellent credit by offering specially tailored loans and a great customer experience regardless of market conditions,” said Gary Miller, co-founder and CEO of FirstAgain. “The AnythingLoan is a terrific way to finance home improvement projects without any of the hassles or concerns people typically have when they borrow against their home or retirement savings.”
For George and Delissa Zandiotis of Killeen, Tex., FirstAgain’s AnythingLoan provided a preferred option to borrowing against his 401(k) to finance the construction of a new home on 10 acres of previously purchased countryside. “I considered borrowing against [my 401(k)], but it just didn’t make sense given the stage we’re at,” said the 56-year-old Zandiotis. “FirstAgain was a breath of fresh air. I was absolutely shocked when I saw how quickly the whole thing happened. I had my loan approved and funds deposited into my account within a day.”
About FirstAgain
FirstAgain LLC is redefining consumer lending for individuals with excellent credit. The San Diego-based company has developed a completely paperless, online experience for applying, approving, signing, funding and servicing unsecured personal loans. FirstAgain’s AnythingLoan can be used for any purpose, including home improvements, vehicle purchases, educational and medical expenses, timeshares, vacation ownerships, marine products, loan refinancing and anything else. Most AnythingLoan finance amounts range from $10,000 to $100,000 with low rates, same-day funding and an unparalleled customer experience. Timeshare and fractional financing loan amounts start as low as $7,500. FirstAgain was founded by the pioneering veterans of PeopleFirst, a company which grew into the nation’s largest online auto lender prior to its sale to Capital One in 2001. The company operates nationwide and has financial investments from Merrill Lynch and Arsenal Capital Partners. For more information, please visit www.firstagain.com.
FirstAgain LLC
Christie Huff
858-414-7846
christie.huff@firstagain.com
