How Much Can I Borrow?

The amount of money you will be able to borrow with a personal consolidation loan depends on the following factors:

• Your Income – You will be able to qualify for larger loans if you have a strong income and are able to make large monthly payments.

• Employment History – People who have been earning a steady income for several years with one employer are less likely to lose their job and default by not meeting the required monthly payments. Therefore they might qualify for larger loan amounts.

• Good Credit Rating – Regardless of the type of loan you get, secured or unsecured, if you have an excellent credit history and are willing to supply it to the lender, you are more likely to qualify for a larger loan.

• Risking an Asset – If you are willing to guarantee the loan by pledging a marketable asset, the lender faces less risk and thus may allow you to borrow a larger amount.