I have taken Personal & home loan. Are there banks or even lenders that consolidate l

theodore91k7 · #1 (**permalink**) 02-21-2007, 06:17 AM

I have taken personal loans and want to go for a home loan. Banks would be unwilling to consolidate a personal loan and a home loan because the interest rates and risks are different.
Personal loans carry a higher rate because these do not have a collateral. Home loans are available at a lower rate because these are secured by the home you purchase using the loan.
Banks may be willing to consider the two loans separately, and you take a home loan without any reference to the personal loans you already have.

darren · #2 (**permalink**) 02-27-2007, 12:51 AM

I recently got home loan for renovation of my house from Meridian Financial (meridianlendersonline.com). Cool guys! Not much hassle. You can call them at 888-429-6121 to get detail. Rate is good I believe but that’s something you should ask them.

brian · #3 (**permalink**) 02-27-2007, 01:16 PM

Looks like Meridian can't stop spamming these forums, so I've now censored their name.

Sponsors