A personal loan is a line of credit secured by your home that gives you a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans such as credit cards. The loan amount is paid over the life of the loan – which could be from 12 to 84 months.
Qualifying for a Personal loan
To qualify for a personal loan, you need to check your credit score, search for ways to improve it, check for rates and look for a lender, among other requirements. You can check out our full guide on how to get a personal loan to get the full breakdown of the steps.