Factors Contributing to Debt Consolidation Loan Rates

Debt consolidation loan rates are determined by a number of factors. The most important factor is the borrower’s credit score. Other factors include the type of debt being consolidated, the loan term, and the lender.

Credit score is the most important factor in determining the interest rate on a debt consolidation loan. The higher your credit score, the lower your interest rate will be. If you have a poor credit score, you may still be able to qualify for a debt consolidation loan, but your interest rate will be higher.

The type of debt you are consolidating also affects your loan rate. For example, consolidating student loans usually results in a lower interest rate than consolidating credit card debt. The loan term also affects your rate. A longer loan term will usually result in a lower interest rate than a shorter loan term.

The Law Offices of Omar Zambrano could helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

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