 TITLE: How to Get a Loan During a Recession CONTENT: Factors to Consider When Comparing Loans\n----------------------------------------\nHow do you get the best deal when you're shopping for a loan? Different interest rates, loan terms and loan amounts can make comparisons confusing.\nUse a simple loan calculator to figure out approximately how much a loan will cost you. You'll need to know the amount you're borrowing, interest rate and loan term to make this calculation. A loan calculator can tell you roughly what your monthly payment will be and how much you'll pay in interest over the course of the loan. Plug in different numbers to get a range of scenarios or compare the costs on multiple loans.\nAdditionally, take into consideration any down payments, fees and upfront points you'll need to pay in order to get the loan: Some may cost you quite a bit. Find out how long it will take for your loan to fund if time is a factor.\nOne caveat for borrowing during a recession: Try to avoid adjustable-rate loans. Interest rates traditionally drop during a recession, as the Federal Reserve may take steps to keep interest rates low to stimulate the economy. If you choose an adjustable-rate loan when rates are at their lowest, you'll see a rise in your rate and monthly payments when the economy improves and interest rates go up. END