Sentences with phrase «qualify for a lower interest rate debt»

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Spending a few more years getting your student loans or other debts paid down could mean that you would qualify for a lower interest rate or a higher loan amount.

If you're spending beyond your means, or have a lot of high - interest debt, then there is a chance of less likely to qualify for the lowest rates on a mortgage.

Depending on your credit history, income, and amount of debt, you could qualify for a credit card consolidation loan with an interest rate as low as 4.98 %.

When I bought my home a decade ago, my high credit and low debt levels meant that I still qualified for the best available interest rate at the time, even though I got an FHA loan with a small down payment.

Depending on your credit, you could qualify for a personal loan with an interest rate as low as 5.25 %, making it a low - interest way to consolidate your debt or handle an unexpected expense.

If you have a decent credit score, manageable debt, a good standing with your insurer and a high income, you'll likely qualify for a lower interest rate.

Paying off your high credit card debt before buying an automobile can help you qualify for a better vehicle with contract terms that are more favorable and interest rates that much lower.

Your debt - to - income ratio also determines your ability to qualify for the lowest interest rate.

You will often qualify for lower interest rates on additional things like credit cards and insurance by using a home refinance to improve your credit score and to maintain a low debt to income ratio.

Individuals who have a strong credit history, a high credit score, and low debt - to - income ratios are likely to qualify for the lowest possible interest rate and preferred repayment terms.

This could be a wise strategy, but only if you are able to qualify for a loan interest rate that is much lower than the interest rate (s) you are already paying on your debts.

A debt consolidation loan can be a good idea if you qualify for a lower interest rate loan than you are currently paying on your other debt.

Borrowers with excellent credit and low debt - to - income ratios may qualify for interest rates at the low end of lenders» ranges.

While debt consolidation isn't the best option for everyone, if you're interested in understanding whether or not you might qualify for a lowered interest rate then you'll want to address a few questions.

• Unlike in the U.S., underwriting standards for qualifying mortgage borrowers in Canada have been maintained at prudent levels resulting in mortgage borrowers here being much more creditworthy; • Canadian mortgage lenders never offered low initial «teaser» rate mortgages that led to most of the difficulties for mortgage borrowers in the U.S.; • Most mortgages in Canada are held by their original lender, not packaged and sold to third parties as is typical in the U.S., and consequently, Canadian mortgage lenders have a vested interest in ensuring that their mortgage borrowers are creditworthy and not likely to default; • Only 0.3 % of Canadian mortgages are in arrears versus 4.5 % in the U.S. and what even before the start of the U.S. housing meltdown two years ago was 2 %; • Canadians tend to pay down their mortgage faster than in the U.S. where mortgage interest is deductible from taxes, which encourages U.S. homeowners to take equity out of their homes to finance other spending, a difference that is reflected in the fact that in Canada mortgage debt accounts for just over 30 % of the value of homes, compared with 55 % in the U.S.

Making regular payments, building cash reserves, and lowering your debt will allow you to qualify for lower interest rates in the future.

To qualify for the most competitive interest rates, your cosigner needs to have excellent credit, a low debt - to - income ratio and meet other requirements outlined by your lender.

If you have a good history of paying off your credit cards and loans, along with a credit utilization ratio that shows your ability to manage debt, you could qualify for a higher loan amount at a lower interest rate

If you do qualify for a low interest rate, a debt consolidation loan can help you save money over the course of time it takes to pay off the loan amount because you will be paying less in interest.

It's true that a low debt - to - income ratio could help you qualify for a loan and a lower interest rate, but your credit score is also a major part of a creditor's decision making process.

A debt consolidation loan may not be a good option if you can not qualify for an interest rate low enough to offer true savings.

But, as time passes and her credit improves, you might consider transferring the debt onto a card in your niece's name when and if she qualifies for a 0 percent or low interest rate card.

They would stand to qualify for a loan for debt consolidation at around 7 %, which definitely is a much lower rate of interest.

You have funds available if there's ever an emergency — plus your debt comes at a lower price, as having good credit means you qualify for better interest rates.

Borrowers with excellent credit and low debt - to - income ratios may qualify for interest rates at the low end of lenders» ranges.