Spotloans are short-term installment loans, which means you pay back your mortgage over time. Click Test Rate” to pre-qualify on NerdWallet and receive customized charges from multiple lenders. They range from space to space and may present, for instance, vouchers, pre-fee playing cards, furnishings or white items and food banks. These loans are meant to be quick-time period; however, many borrowers can't pay the mortgage when it's due.