One way to get a lower interest rate on your loan is to find a co-borrower with good credit who can co-sign for the loan. Once you have a co-borrower, the next step is to accept the loan offer and get the funds to make the monthly payments. However, there are a few things you should know before you sign on the dotted line.

If you have high interest credit card bills, a debt consolidation loan is a great option. These loans are usually offered at a lower interest rate than your credit card balances, which can help you save a lot of money. However, be sure to make your payments on time and in a larger amount than your minimum due.

Another option is a debt management plan, which rolls up all of your debts into one manageable monthly payment. These plans are great because they don’t require good credit and often come with professional support. These plans are offered by nonprofit consumer credit counseling services. These organizations provide budget evaluations and advice on the best ways to overcome debt.

SoFi also offers a great program to help those who have lost their jobs. This program offers job placement assistance and allows borrowers to temporarily make their payments. It also has a mobile app available for both iOS and Android, giving you convenient access to your banking on the go. Customer support is available 24/7 on the phone as well.

If you need more money for a major purchase, you may want to consider a home equity line of credit, also known as a HELOC. This type of loan lets you charge things similar to a credit card. The only difference is that you can only pay interest on what you use during the draw period. After that, you will have to repay the balance.

As with any loan, there are risks involved. A bad loan can cause you to end up in more debt than you started with. Make sure to take the time to research your options and choose a lender carefully. You should also make sure to work with a reputable non-profit credit counseling agency, which must be a member of the National Foundation for Credit Counseling.

If you have excellent credit, a personal loan from Lightstream may be the best option for you. It doesn’t require a minimum FICO score, but it requires a personal checking or savings account. It has several other advantages, including a mobile app and email customer support. However, its interest rate is too high for it to make the top spot on this list.