Hot Loan USA Review

Hot Loan USA ReviewHot Loan USA is a website that will teach you about different loan options at your house, as well as your credit, and they say that you can get a loan right at their site. The first thing we noticed about the site is that they are using an unencrypted application page. They let you take out a payday loan, or a personal loan, and they will loan you up to $2,000.

Hot Loan USA Review – What We’ve Learned

When sizing up a site like this you have to keep in mind that there are literally hundreds if not thousands of lenders all vying for you to do business with them, so do you really have the advantage here and you have to make sure that you’re going with a matching service that is going to do the best job for you. Whatever we look at a site like this we are going to try to let you know if they are worth giving your personal information to, or if there are other sites out there that would best be suited for your needs.

Unencrypted Application
The Hot Loan USA application page is very short and only requires your full name, phone number, email address, and they ask you to let them know how much money you want to take out and what kind of loan you want to take out. After that you are presented with a screen that says someone will be getting in touch with you to get the rest of your information.

You are required to call a toll free number in order to continue with the application. They give you an authorization code and a Case ID number so that they can match you with your loan information that you filled out during the application process. When you call the toll-free number you’ll get an authorization code that you enter into the website. This is to limit the amount of people that enter in phony information, and its a way to confirm that you have a working phone number so that they can contact you if they ever need to hear from you

They feature an APR calculator so that you can try to determine how much you’re alone is going to cost as a representation of your annual percentage rate you basically just enter in the loan amount of your question, as well as the interest that you’ll be charged, and then the number of years do you plan on taking it out they also have a section where you can tell them how you want to rate of interest compounded what do you want that to be monthly or quarterly or twice a year, or annually, and then what they’ll do is calculate what your payment amount will be.

The funny thing is that they don’t actually tell you what sort of interest you’ll be paying on the loans that you’ll be taking out, and if you’re getting a payday loan you won’t be able to fill out the part that ask you for the number of years, so this page is pretty useless.

They have a Frequently Asked Questions section which basically goes through the credit requirements that you need to have, and whether or not you can take out a loan if you don’t have perfect credit. The information is pretty sketchy as far as what they tell you, it’s very vague and they don’t really answer the questions in their entirety, most of the answers are that it depends on what loan you take out and which one lender you go with. You have to keep in mind that Hot Loan USA is not a lender at all, and they are basically just collecting leads, and screening out people that are not able to take out a loan. They then send this information to actual lenders who do the lending.

Our Recommendation
Because they don’t have a secure server for their application page, you’ll be sending your information on an unencrypted site. Not a good idea even though it is just your contact information, and it would be very easy for them to simply call their web hosting company and add on a secure server so that people would feel more secure putting their information on a site like this. There are plenty of other lender matching services out there that have a secure server so we would recommend going with them instead.

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