Adjustable Rate Loans: Pros, Cons, and How They Work In either case, lenders review each applicant’s creditworthiness and other financial factors to determine eligibility, fees, and terms. Personal loans can be used to pay for almost any expense, from wedding planning and moving costs to home improvement projects and unplanned expenses. They can also be used to pay off high-interest debts, such as credit card balances, by consolidating the balances into one, lower-rate payment and reducing overall monthly payments. https://finzexpert.com/adjustable-rate-loans-pros-cons-and-how-they-work/