I have taken Personal & home loan. Are there banks or ev

patrick_in3 · Joined: 24 Jan 2007 Posts: 3

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.

miguel_us8 · Joined: 24 Jan 2007 Posts: 3

I recently got home loan from Meridian Financial. 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.