Hi, What is a typical interest rate and term for a

Hi, What is a typical interest rate and term for a debt consolidation loan? Are they difficult to get if we do not own a home? Thanks, Lisa

2 Answers

There is no fixed interest rate on a debt consolidation loan. However, the interest rate on a secured consolidation loan is generally lower than that of the unsecured ones. It won't be difficult for to get a loan without a home. You can easily take out an unsecured debt consolidation. If your credit score is very poor, then the lenders will charge high interest rate on the loan.

The interest rate and term of a debt consolidation loan may vary from one debt relief company to another and will also depend upon your financial situation. It is not mandatory to own a home in order to qualify for a debt consolidation loan.

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