Looking for a consolidation loan -Sign up for a local consolidation loan now
A consolidation loan is the replacement of several previous debts in one new liability. It is granted for a specific purpose, which means that the funds are intended solely for the repayment of installments of your previous bank or non-bank obligations. Money from the consolidation loan is not transferred to the borrower’s account – the bank sends it directly to the accounts of existing lenders. Replacing several or several installments with one is a very convenient solution because the customer only needs to remember about the date of payment of one commitment per month.
Sign up for a local consolidation loan now
In the opposite situation, the bank will not help us, and our situation will start to look bad – especially on the bases of unreliable debtors. Therefore, you should not delay the consolidation of loans.
The reduction of interest rate on a consolidation loan will reduce both the total loan costs and the installment amount, which will be smaller than the sum of previously repaid installments. On the other hand, extending the loan period will cause that the repayment of capital will be spread over a longer period of time, so the monthly installments will decrease. What we will definitely feel in the wallet, but we will pay more per balance because you will have to return the funds borrowed for a longer period.
Before making a consolidation loan decision, it’s a good idea to learn more about consolidationnow.com.
Installments of a mortgage consolidation loan are spread over a longer period than the same loan in the version without a mortgage. Its amount may even be around 80% of the value of the property whose mortgage the liability will be secured by. In addition, in these situations, we can count on lower interest rates and longer funding periods.
– The maximum loan amount is USD 500,000
– Loan period from 3 to 144 months
– Interest rate from 2.99%
– Commission even 0%
– The maximum actual annual interest rate of 19.99% (for selected credit products)
An example of the total cost of a consolidation loan for a person employed under a permanent employment contract:
The Maximum Real Annual Interest Rate is 11.36%
Actual Annual Interest Rate (APRC) is 11.36%, total loan amount (excluding costs credited) USD 85,000.00, total payment amount USD 126,095.76, variable interest rate 8.49%, total loan cost USD 41,095, USD 76 (including: commission USD 5 184.00, preparation fee USD 1 400.00, interest USD 34 511.76), 95 months
The credit decision depends on the result of the individual creditworthiness examination and the credit risk assessment made by the bank, and the above example does not constitute an offer within the meaning of the Civil Code.