Can you get a debt consolidation loan without owning a home?

can you get a debt consolidation loan if you dont own a home.

Answer #1


Yes, you can. There isn’t a mortgage or homeownership requirement for most debt consolidation places.

Answer #2

Yes you can get a debt consolidation without a home and that is known as an unsecured debt consolidation loan.

Debt Consolidation loan can be of two types unsecured and secured debt consolidation loan.

In unsecured debt consolidation loan they have higher interest rates as without collateral and a solid credit rating, the borrower is considered at high-risk. So consolidating this loan can give you low interest rate than you are paying rite now.

Whereas in secured debt consolidation loan you can provide any property is as collateral and get a loan. In debt consolidation loan you get an added advantage of improving your credit score as subsequent payments are made to pay off the new loan.


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