Buying a home is easy
Contact Joe Moore

If you’re sitting and wondering how to survive in an uncertain economy, you’re not alone. From home foreclosures and unemployment to being unable to pay your utility bills, there are several reasons why lending options look so bleak right now. 

That said, it’s also important to remember that there is a lot you can do for yourself. Here are some places recommended that you might consider looking into.

Lending Options if You Need Some Extra Money for the Recession

If you’re a public sector worker, you may be feeling the pinch of the 2022 recession. You are probably wondering how to make ends meet. If you need some extra money, there are a variety of lending options available to help you out during these difficult times.

1. Standard Loans

Standard loans are the traditional loans that you can get from banks and lenders. The most common type is the car loan, but there are also mortgages, student loans, personal loans, and many other standard loans. 


How Does It Work?


Standard loans come in two parts: principal and interest. The amount borrowed is known as the principal, and this amount must be repaid in full over time with interest added on top of it at predetermined rates set by lenders. 


Interest rates vary depending on several factors. Some include the length of the term selected by borrowers (usually ranging from 12 months up to 60 months). In addition, the credit score is important when you make the application.   


Interest rates also depend on how much money they want to borrow (and whether they choose fixed or variable rates).

2. Government Loans 


If you work for the government or its agencies, particular loans are made available to you.¹ One example is the Federal Housing Administration (FHA) loan program, which provides low-down-payment home loans to public workers.


You can also apply for federal direct student loans or grants if you need money for educational purposes. You can use this money for paying tuition or buying books and supplies.

3. Personal Loans for Bad Credit

One option is to apply for a personal loan. These loans are available from various lenders and can be used to cover anything from paying off your mortgage to taking a vacation. The great thing about personal loans is that they’re easy to qualify for — even if you have bad credit.²

4. Home Equity Loan or Line of Credit

It is a good option for people with good credit scores. They can get approved for a loan with low-interest rates. A home equity loan allows you to borrow against the value of your home. But, unlike a mortgage or refinance, you don’t need to pay off any existing debt on the property before doing so. 

Consider These Lending Options Today

While these options may not help you get out of debt, they might at least help you avoid piling on additional debt. They can also provide quick cash to cover day-to-day needs or to tide you over until your next paycheck comes in. 


“About Mountain West Financial and the CalPATH Home Loan Program

Mountain West Financial is the exclusive lender offering CalPATH, the #1 home loan program for Teachers, Police Officers, Firefighters, and other public employees who serve our local California communities.

You may contact our CalPATH Hotline @ 800-310-7577, seven days a week from (8:30 am to 8:00 pm) or visit our website @ A CalPATH advisor will be standing by to answer (any & all) questions you may have about the home buying or refinance process.

We look forward to working with you soon!


Joe Moore

CalPATH Division Manager

NMLS #333648″

Link to Sources used

  1. Government support in financing PPPs
  2. Personal loan requirements and how to qualify for them