 TITLE: Step-by-Step Checklist to Getting a Consolidation Loan CONTENT: Select the Right Consolidation Loan\n-----------------------------------\nWhen comparing loan offers, consider the following:\n*   Does the lender offer the loan amount you need? Some lenders have loan minimums; avoid borrowing more than necessary.\n*   Can you afford the monthly payments? A longer loan term can lower your monthly payments, but you'll ultimately pay more in interest than with a shorter term.\n*   Can you get prequalified and receive estimated loan amounts and interest rates?\n*   Is there an origination fee when you receive the loan?\n*   Is there a prepayment fee for paying off the loan early?\n*   Is the interest rate fixed or variable? Fixed-rate loans have the same monthly payment for the life of the loan. Variable rates often start lower than fixed rates, but if interest rates rise, your payments will rise too.\n*   Use our personal loan calculator to compare loan offers and see the total interest you'll pay. END