Best Debt Consolidation Loan Companies

If you’re overwhelmed by debt and are desperately seeking relief, debt consolidation may be a viable option. But how exactly does it work, and how do you go about finding a loan that best suits your needs? Read on to learn the answer to these questions and much more.

How Debt Consolidation Works

In a nutshell, debt consolidation refers to the practice of rolling small debts into a single debt product. By doing so, you’ll streamline the repayment process since all the other creditors will be paid in full by the loan process. It’s also designed to save you money if you’re able to secure a loan interest rate.

You can consolidate your debts by taking out a personal or home equity loan, opening a balance transfer credit card, or borrowing from your 401(k).

Benefits of Debt Consolidation

Scores of consumers who are drowning in debt turn to debt consolidation for the benefits they can derive from it, including:

  • Lower interest rates; perhaps the most attractive part about debt consolidation is the ability to pay a ton less in interest than what you were paying before, which could be hundreds if not thousands over the life of the loan (assuming you qualify for a debt product with a lower rate or secure a balance transfer credit card). If money was tight but you were keeping up with the monthly payments, a lower interest rate will not only give you a lower combined monthly payment, but free up funds that can be used to get the total amount owed down even faster. But if you were struggling to make timely payments, a lower interest rate could mean you’re now able to silence the collection calls by paying those balances and full using loan proceeds and taking care of the loan balance that remains without feeling overextended each month.
  • Peace of mind: instead of spending hours each month mulling over your debts figuring out if a creditor has been paid and how to knock down the outstanding balances faster, you can rest assured that a loan payment has you covered. This is also a major bonus if you’re tired of dealing with fees from late payments or creditors breathing down your neck.
  • Potential credit boost: if you’re consolidating credit card debt, paying off the balances will automatically decrease your credit utilization ratio, which accounts for 30 percent of your FICO score and is comprised of revolving credit. This is a win-win for your wallet and your credit score.

Drawbacks of Debt Consolidation

While there are several benefits to consolidating your debt, there are also a few drawbacks to keep in mind.

For starters, debt consolidation is not without risk and could set you back even further financially if not executed properly. To illustrate,

You should also consider the fees associated with debt consolidation. Personal and home equity loans are usually accompanied by origination fees, which account for one to three percent of the total loan amount. Furthermore, you could incur a prepayment penalty should you decide to pay the loan off early.

With regards to balance transfer credit cards, your efforts could backfire if you’re unable to pay the amount owed in full prior to the promotion’s expiration date. Why so? The creditor will retroactively apply interest to the debt that remains.

Another important consideration is in regards to home equity loans. If you default on the payment, you could put your home at risk since it’s a secured loan product backed by your home (which is used as collateral).

Furthermore, balance transfer credit cards that aren’t managed properly could result in even more than you have beforehand. How so? Well, if you decide to use the other cards that have already been wiped clean, you’ll end up right back in the same spot that you were before with double the debt.

How to Evaluate Debt Consolidation Lenders

Ready to move forward with consolidating your debts? If you do a quick search for debt consolidation lenders, chances are you’ll quickly become overwhelmed as there are so many options out there.

But you can narrow down your list by only analyzing lenders that offer products that you need and keeping the following in mind:

  • Qualification criteria: is there a minimum credit score or monthly income that applicants must have to be considered for a loan? Also, does the lender require you to be employed for a set period of time in order to consider your loan application?
  • Loan terms: is the interest rate lower than what you were paying before? And is the loan term much lengthier or shorter? Higher interest rates defeat the purpose of consolidating your debt and significantly longer loan repayment periods could mean you’ll pay a lot more in interest over the life of the loan than you would have if you had not consolidated the debt.
  • Key benefits: does the lender offer any particular perks that make them stand out from the others? For example, some lenders offer pre-qualification screening tools to help you assess if their products are a good fit without dinging your credit score. You may also be able to customize your loan to best suit your needs.

Best Debt Consolidation Loan Companies

Lender Loan Amounts Loan Terms Key Benefits
Avant: online direct lender that’s helped over 600,000 secure the funds they need $2,000 to $35,000 APR: 9.95% to 35.99%

Repayment Period:

24 to 60 months

Administration Fee:

Up to 4.75 percent

-loan prequalification tool that does not impact your credit score

-next business day funding options available

-no prepayment penalties

Earnest: online direct lender that puts technology at the forefront to offer borrowers more competitive interest rates Up to $75,000 APR: starts at 6.99%

Repayment Period:

Varies by lender

Origination Fee: 1% to 6%

-savings patterns, asset portfolio, and work history considered by the lender during the loan application review process

-customizable repayment plans

Lending Club: peer to peer lending network that’s served over 2.5 million customers Up to $40,000 APR: 6.95% to 35.89%

Repayment Period:

-prequalification tools that allows you to check your rate with no impact to your credit score

-funding in as little as seven business days

-no prepayment penalties

Lightstream: a direct lender that’s a division of SunTrust Bank $5,000 to $100,000 APR: 6.14% (with AutoPay)

Repayment Period: 24 to 84 months

-competitive interest rates for well-qualified borrowers

-same business day funding options available

-no prepayment penalties

OneMain Financial: a direct lender with over 100 years experience $1,500 to $30,000 APR: varies by loan product

Repayment Period: varies by loan product

-check your offers without impacting your credit score

-over 1,600 brick and mortar locations available

-no prepayment penalties

Payoff: a direct lender that offers loan products designed to help you eliminate credit card debt faster $5,000 to $35,000 APR: 5.99% to 24.99%

Repayment Period:

2 to 5 years

Origination Fee: 0% to 5%

-view rates without hurting your credit score

-no late or returned check fees

Prosper: a direct lender that has loaned over $13 billion to consumers $2,000 to $40,000 APR: varies by loan product

Repayment Period:

3 or 5 years

Origination Fee: 2.4% to 5%

-no penalty to your credit score to check your rate

-no prepayment penalties

SoFi: Up to $100,000 APR: 6.99% to 15.49% (with AutoPay)

Repayment Period:

-no impact on your credit score to check your rate

-no origination, late, or prepayment penalties

UpStart: peer to peer lending network that connects borrowers with lenders $1,000 to $50,000 APR: 8.89% to 35.99%

Repayment Period:

36 months (on average)

-check your rate with no impact to your credit score

-lenders consider your educational background and work experience when evaluating your loan application

-next business day funding options available

-less than perfect credit OK

-no prepayment penalties

Debt Consolidation vs Debt Settlement

Maybe you’ve done some legwork and determined that debt settlement isn’t for you. The good news is all hope is not lost as debt settlement could still offer you the relief you’re seeking.

But how does it differ from debt consolidation? In a nutshell, you will settle your outstanding balances for a fraction of what you owe in lieu of paying them in full through debt consolidation.

While doing so could adversely your credit rating when the creditor when the creditor settles the accounts in their books, it also means the hounding debt collection calls and letters will stop. Furthermore, the creditor cannot come back at a later date to sue you in the court of law for the remaining portion that you owe.

You should also only consider using debt settlement as a last resort before filing for bankruptcy because it’s really only effective once you’ve missed a slew of payments and the creditor believes there’s a high possibility they won’t recoup the funds they’re owed. Unfortunately, this means you’ll have to stop making payments altogether for the debt settlement company to plead your case and have the greatest chance of success. But keep in mind that there are no guarantees that creditors will accept the offers presented to them, so there’s always the risk of failure.

If you believe debt settlement may be a good fit, be sure to only do business with a reputable company as there are tons of scam artists out there. A few options include Accredited Debt Relief, Freedom Debt Relief, National Debt Relief, and New Era Debt Solutions.

The Bottom Line

Debt consolidation may be worth a shot if you earn a consistent income each month and can comfortably afford to make payments each month on your debts. But if you’re completely overwhelmed and can’t seem to see the light at the end of the tunnel, debt settlement may be a more viable option.

Either way, by exploring these reputable companies and what they have to offer, there’s a high possibility you’ll be on the way to breaking the chains of debt in record time.

Best Private Student Loans (The 2019 Edition)

Higher education costs are rapidly on the rise, so it’s no surprise that you need assistance funding your tuition and other related expenses. Federal loans may be an option, but some private lenders also offer student loan products with great perks. Read on for the best private student loans on the market.

Best Private Student Loans for 2018

Ascent

Ascent offers two options to help student fund their higher education expenses:

  • Cosigned Loan: designed for college students who have a part-time load or greater and a co-signer willing to back the loan for them. It’s also ideal for students who are not U.S. citizens or are designated as permanent residents as they can still qualify with a cosigner who is a resident. Payment terms are 5, 10, or 15 years, and interest-only repayment is permitted while you are enrolled in school.
  • Independent Loan: designed for full-time college Juniors, Seniors, or Graduate students. To qualify, you must be a U.S. citizen or permanent resident and maintain a GPA of at least 2.5. Payment terms are 10 and 15 years, and you won’t have to start repaying your loan until coursework is complete.

But what makes them really stand out among the other private lenders is the one-percent cash back incentive that they offer if you graduate and meet certain criteria. Furthermore, their APRs for both fixed and variable loan products are some of the lowest in the industry for those who are well-qualified borrowers (or have a stellar credit history).

The cosigned loan is accompanied by variable and fixed APRs ranging between 4.06 and 13.06 percent and 5.66 and 14.73 percent, respectively. On the other hand, the independent loan’s variable and fixed APRs are between 5.72 and 13.01 percent and 7.20 and 13.90 percent, respectively.

Ascent also offers a 0.25 percent f you enroll in automatic ACH payments. You can use their online tool to determine if you’re eligible to apply for a loan. It only takes a few minutes of your time and you’ll receive a real-time response.

Citizens Bank

Citizens Bank has two loan options to choose from:

  • Student Loan: caters to students with, but a co-signer may be required.
  • Student Loan for Parents: caters to parents wishing to assist their students with higher education expenses. You may also choose this option if you have stellar credit and do not require a cosigner to qualify.

Another key benefit of Citizens Bank private student loan products is the multi-year approval feature. In a nutshell, it allows borrowers to request for more funding as needed without jumping through more hoops. This means that you don’t have to submit a different application or supporting documentation each year that you wish to take out a loan.

To qualify for a student loan from Citizens Bank, you must be a full-time undergraduate or graduate student with at least one year left until you’re eligible for graduation. You must also be a citizen of the US or a permanent resident.

College Ave.

College Ave’s student loan products include:

  • Undergraduate loans: can be used to cover all qualifying college expenses, including tuition, books, fees, and housing. Variable and fixed interest rates range between 3.94 and 11.19 percent and 5.29 and 12.78 percent, respectively.
  • Graduate loans: can be sued to cover expenses related to postgraduate, masters, doctoral studies. Expenses incurred in relation to professional degree studies are also eligible for coverage under the graduate loan program. Variable and fixed interest rates range between 3.94 and 9.25 percent, and 5.29 and 10.45 percent, respectively.

Parent loans and career loans are also available to help offset the cost of higher education.

They also offer a scholarship program for borrowers that allows you to win up to $1,000 to be allocated towards your higher education expenses. An award is disbursed each month, and it only takes a few seconds to enter.

You can apply in as little as three minutes and know right away which loan product, along with specific terms, you qualify for. Loans can also be tailored to meet your budgetary needs.

CommonBond

CommonBond offers competitive student loans to undergraduate borrowers. You’ll have 5, 10, or 15 years to repay the loan, and there are fixed and variable rate options available.

The interest rates are as follows:

  • Fixed loans: 5.3 to 9.82 percent APR
  • Variable loans: 3.96 to 9.83 percent APR

To qualify, you must meet select income and credit criteria. You have the option to bring a cosigner on board to strengthen your approval odds, and they can be released from the loan if you make two years of consecutive on-time payments.

CommonBond offers forbearance for up to 12 months if you encounter financial difficulties during the repayment period. And should you decide to pay your loan off early, you can rest assured that you won’t be hit with prepayment penalties.

When you take out a loan from CommonBond, you will also help fund Pencils of Promise, which is a charitable initiative that helps cover educational expenses for underprivileged school-aged children in Ghana.

Discover

Known for its stellar credit card products, Discover also offers student loans to undergraduate and graduate students. Interest rates range between 3.99 and 13.99, depending on the loan type and accompanying repayment term. As a borrower, you can choose from:

  • Undergraduate loans
  • Graduate loans
  • MBA loans
  • Health professions student loans
  • Law student loans
  • Residency student loans
  • Bar exam student loans
  • Debt consolidation student loans

Their loans include several perks, including:

  • One-percent cash reward with a GPA of 3.0 or better
  • Repayment discount when enrolling in autopay
  • The ability to choose between in-school or deferred repayment

You can apply directly from the website or by calling 1-800-STUDENT. And if you qualify for and decide to accept the loan offer presented to you, there are no application or origination fees.

Sallie Mae

When you take out a student loan from Sallie Mae, you’ll enjoy all the perks that the Smart Option Student Loan has to offer, including:

  • Three flexible repayment options
  • Zero origination fees
  • No early prepayment penalties
  • A deferred payment option which halts repayment until you complete your studies

You can choose from variable and fixed interest rate loan products with APRs ranging from 4.37 to 11.23 percent and 5.74 to 11.85 percent, respectively. They also offer specialized graduate loans for MBA, medical, dental, health, professional, graduate, and law school students. Sallie Mae also offers parent loans for those wishing to assist to cover the costs of attendance for the children.

To move forward with the loan application, visit their website or call 1-877-279-7172. Upon completion, you should receive an instant decision.

SoFi

SoFi boasts some of the lowest rates in the private student lending industry. APRs on fixed and variable rate loans start at 3.899 and 2.4790 percent, respectively, when you enroll in Autopay. They have served thousands of borrowers and loaned well over $30 billion.

You can explore your loan options with SoFi using the online tools. It only takes a few minutes and there is no impact on your credit score.

SunTrust

With the Custom Choice student loan from SunTrust, you can tailor a loan product that meets your budgetary needs while saving a bundle on interest. They offer fixed and variable APR loans, ranging from 5.347 to 14.050 percent and 4.122 to 13.125 percent, respectively.

Other accountholder perks include:

  • The option to defer loan payments while enrolled in school
  • A principal reduction of 2 percent upon completion of your degree program
  • A 0.25 percent discount when you enroll in autopay
  • An additional 0.25 percent discount when you enroll in autopay from a qualifying SunTrust account

It only takes a few minutes to apply and you’ll receive an instant decision. Upon approval, you can rest assured that you won’t incur any loan origination fees. Even better, prepayment penalties do not apply if you decide to pay off the loan early.

How to Evaluate Private Student Loan Options

Ready to start applying for private student loans. Before you go any further, here are some questions to ponder:

  • Is the lender reputable? There are shady lenders that will promise you one thing, and give you another, either in the form of ridiculous payment terms, fees or a monthly payment you can’t afford. Even worse, you could end up dealing with a con artist disguised as a student lender if you don’t do your homework. A better option: dig a bit deeper to learn more about the lender’s background. Take a look at their status with the Better Business Burea (BBB), and it also doesn’t hurt to read reviews to see what others are saying. If all the reviews are negative or sound too good to be true, they probably are and that’s your queue to move on to other options.
  • Does the lender require that you meet minimum income and credit score requirements? If you don’t qualify, are they willing to work with you, and are you allowed to bring a cosigner on board?
  • Does the lender offer any enticing perks to borrowers? Some will automatically grant you a reduction in interest if you enroll in auto pay. Other benefits include the ability to defer the loans or request forbearance if you encounter financial hardships during the repayment period?
  • Are loan payments deferred while you’re enrolled in school? If so, does interest still accrue?
  • Does the lender charge application or loan origination fees? Will you incur a prepayment penalty if you decide to pay the loan off early?
  • Does the lender offer flexible loan options? Are you allowed to tailor your monthly payment and repayment term to fit your budget?
  • Is the APR comparable to what’s being offered by other private lenders in the industry?

Should You Borrow From a Private Lender?

Wondering if a private student loan is right for you? It’s not a bad idea to shop around as not all private lenders are created equal.

But first, it’s best to exhaust your federal options. Why so? For starters, they generally have more competitive interest rates than what you’d find with private student loans. Furthermore, they offer great perks to borrowers, like the income-based repayment programs, forbearance, and deferment (as needed, student loan forgiveness, and loan cancellation, just to name a few. You may also qualify for free grants or the federal work-study program which allows you to earn money through an on-campus position designed specifically for students.

To determine if you qualify for federal loans, complete the Free Application for Federal Student Aid (FAFSA) at fafsa.gov. The income data input into this form will be analyzed to determine how much unmet financial need you have to fund your higher education. Colleges and universities will then use this information to compile federal loan offers (assuming you haven’t exhausted the aggregate federal loan limit).

No luck? Try local community banks and credit unions when you begin your search for private lenders as they tend to have more flexible qualification criteria. Online lenders may also be a good fit, and some allow you to determine if you qualify for a loan and with what terms with no impact to your credit score

The Bottom Line

Before you borrow from a private lender, be sure to explore all your federal options. And if you have to go the private route, obtain several quotes to ensure you’re getting the biggest bang for your buck.

Best Online Personal Loans (The 2019 Edition)

With so many online lenders to choose from, you could easily become overwhelmed when shopping for a loan. So, we’ve done the legwork for you by exploring scores of lenders to compile a list of the best online personal loans in the marketplace.

Avant

Avant has helped over 600,00 consumers get access to cash when they needed it most. Loans are underwritten and issued by WebBank, and are between $2,000 and $35,000 with loan terms from 24 to 60 months. You can also expect to receive an APR between 9.95 and 35.99 percent.

As a borrower, you’ll be privy to the following benefits:

  • Flexible loan use as the way in which the loan proceeds are to be used isn’t dictated by the lender.
  • Access to customer service representatives seven days a week.
  • The ability to pay off your loan early without incurring a prepayment fee.

You can explore loan options by visiting their website and completing the online form. Be prepared to provide your name, address, Social security number, and answer questions about your income. If pre-qualified, you’ll be able to view the terms of your offer directly from the dashboard. Even better, there’s no impact to your credit score since it’ll only be a soft pull to your credit.

Upon approval, you’ll need to provide identification and income documentation to substantiate the claims made in the application. The loan officer will reach out to let you know which documents they need, and they can be uploaded to your account directly from the website. And once the documents have been reviewed and processed, you can expect to receive funds in your bank account in as little as one business day.

Best Egg

Best Egg also offers personal loans that can be funded in as little as one business day. Accredited and rated A+ by the Better Business Bureau (BBB), they have a streamlined application that makes it easy to get approved in a jiffy and have funded over $6b in loans for more than 450,000 customers.

You may be eligible for anywhere between $2,000 and $35,000 in loan proceeds with an APR between 5.99 and 29.99 percent. A small loan origination fee between 0.99 and 5.99 percent also applies.

Loan proceeds can be used to fund a variety of financial expenses ranging from debt consolidation, home improvement, and moving expenses, to adoption-related expenses and vacations, just to name a few.

To apply for a personal loan from Best Egg, simply complete the online application found on their website. If you are approved, income documentation can be uploaded directly from the dashboard so you can receive the funds you need in a jiffy.

You also have the option to check the terms of your loan offer with no impact to your credit score if you’re still unsure. It only takes a few minutes of your time, and you’ll quickly be able to review your results.

FreedomPlus

FreedomPlus is another leading online lender that can get you the funds you need within 48 hours. Headquartered in Arizona, they offer personal loans with competitive rates to borrowers with excellent credit along with those who’ve had some past financial missteps and are working to rebuild their credit rating.

Loan amounts range from $7,500 to $40,000 with APRs between 4.99 and 29.99 percent. There are no restrictions on how the funds can be used, which means you can use the proceeds to eliminate debt, make improvements to your home, fund your dream wedding, or pay for an upcoming trip abroad.

Furthermore, you have the option to select the day on which your payment will be due each month. And you’ll have between two and five years to pay off the outstanding balance with no prepayment penalties should you decide to pay off the loan early.

All you have to do is apply using the simple application found online to receive a customized loan offer if you meet the qualification criteria. You can also call 1-800-368-0061 to speak with a loan representative that will walk you through the process. Either way, you’ll receive a lending decision the same day. And should you decide to accept the loan offer, an origination fee of up to five percent will be applied to the loan amount.

Lending Club

Wouldn’t it be nice to explore several loan options at the tap of a fingertip? Well, look no further than LendingClub, a peer to peer lending network that can connect you with a lender that will grant you a personal loan of up to $40,000.

Loan proceeds can be used to consolidate credit card or any other type of debt, cover home improvements, pay for a big-ticket purchase, or take care of any other unexpected expense. You can explore loan options in a jiffy by answering a few questions via their online form, and your credit score won’t be impacted. Partners in the LendingClub network offer loan terms of 36 or 60 months, but the interest rate you’ll receive will be determined by your financial background, desired loan term, and credit rating.

If you qualify for a loan, the next step is to select the loan offer that works best for you and upload any supporting documentation requested by the lender directly to the dashboard. Once the loan is finalized, the funds will be deposited into your bank account within 7 days, minus the origination fee which is between one and six percent.

You’ll repay the lender for the duration of the loan term via your bank account. And there are no prepayment penalties will apply if you decide to pay the loan off early.

LightStream

Operating as a subsidiary of SunTrust Bank, LightStream offers some of the most competitive rates on the market for personal loans. Their loans are catered towards consumers with good or excellent credit and can be used to cover a variety of expenses, including those related to an automobile purchase, home improvement project, recreational vehicle, travel, medical expenses, or any other big-ticket purchase.

Loan amounts span from $5,000 to $100,000 with terms between 24 and 144 months. You can expect to receive an APR between 3.34 and 16.99, depending on your credit rating and intended use of the loan. (Quick note: if you do not enroll in the AutoPay option, your loan’s APR will be 0.50 points higher).

Unlike most personal loan products on the market, no origination fee applies. Furthermore, you won’t be hit with a prepayment penalty if you pay off the loan ahead of schedule. Another major perk is their “best loan experience guarantee,” which will grant you $100 within 30 days if you’re not completely satisfied with your loan experience.

You can explore loan terms using the online simulator to determine if what they’re offering could possibly fit your needs. Once you’re ready to apply, submit the online form and upload any necessary identifying and income documentation. Upon final approval, you could receive the loan proceeds in your bank account the same day.

And in the event you find a lender that will offer you a more competitive interest rate, LightStream will lower your APR by .10 percentage points if you meet select criteria, thanks to the Rate Beat Program.

Marcus by Goldman Sachs

Marcus by Goldman Sachs is another enticing loan option that allows borrowers to secure some of the lowest rates on the market without paying fees. This means you won’t pay loan origination, prepayment or late fees.

You may be eligible for up to $40,000, and APRs start at 6.99 percent. Loans can be used to consolidate debt or cover home improvement, wedding, moving, or vacation costs.

When analyzing your loan application, the lender will evaluate your creditworthiness, income, and intended use for the loan proceeds to determine how much you qualify for. (Quick note: the lower APRs are reserved for applicants with stellar credit ratings seeking shorter loan terms. You can also expect to pay a higher APR is you wish to repay over an extended period of time).

To explore what loan options may be available to you through Marcus, by Goldman Sachs, simply complete the online form. It’ll only take a few minutes, and there is no impact on your credit score. But be prepared to input your desired loan amount, monthly payment, the reason for the loan, and income information. You can also call 1-844-MARCUS1 to get started if you’d prefer to speak to a loan officer.

Payoff

Loans from Payoff are intended for one specific use: to eliminate credit card debt. You may elect to borrow between $5,000 and $35,000 for a loan term from two to five years. Even better, they offer fixed interest rates as low as 5.65 percent.

A loan origination fee of up to five percent may apply, but you’ll never pay any fees associated with late payments, check processing, returned checks or early payoffs.

To qualify for a Payoff loan, you should have:

  • A FICO score of at least 640
  • A debt-to-income ratio that’s 50 percent or lower
  • At least three years of positive credit history
  • Two trade lines in good standing
  • No more than one installment loan initiated within the past 12 months
  • No delinquent accounts on your credit report
  • No past due accounts
  • No accounts that have reached a past due status of 90 days or more within the past 12 months

When you check your rate, Payoff will only conduct a soft pull. So, your credit score won’t be impacted. You should also know that Payoff customers have increased their FICO Score by up to 40 points by using the loan proceeds to pay off credit card debt. And you’ll have access to a monthly update of your FICO Score, free of charge, so you’ll be able to see your progress in real-time.

Prosper

Established in 2005, Prosper was a pioneer in the peer-to-peer lending industry. Prosper has helped over 869,000 consumers borrow the funds they need to pay down debt, make that big-ticket purchase, or cover life’s unexpected expenses.

They offer loans from $2,000 to $40,000 with 3 and 5-year terms. Interest rates vary by creditworthiness and your financial background, as determined by your Prosper Rating. There are no prepayment penalties, and you can check your rate online without impacting your credit score.

SoFi

SoFi takes customer service to the next level with the perks that accompany their personal loan products. Not only do they have customer service representatives standing by to assist you seven days a week with your loan needs, but they also offer unemployment protection in the event you lose your job. Even better, they’ll connect you with their Career Advisory Group to help you find a new job so you’ll back on your feet in record time.

You can also rest assured that you’ll never pay any fees when you take out a loan from SoFi. So, there are no loan origination fees when the loan proceeds are disbursed and you won’t have to pay a prepayment penalty should you decide to pay the loan off early. Best of all, you won’t incur late fees if you miss a payment.

They offer fixed rate loans between $5,000 and $100,000. You can also expect an APR from 6.99 to 14.99 percent when you enroll in AutoPay, and you’ll have between three and seven years to repay what you owe.

To get started with the loan application process, complete the online form. Your credit score won’t be impacted, and there’s no pressure to move forward with a loan offer if the terms don’t work for you.

Upstart

When you apply for a personal loan with Upstart, they look beyond your FICO score to gauge your creditworthiness. They have helped over 140,000 access the cash they need, and you, too, can apply for consideration for with no impact to your credit score.

Upstart offers loans between $1,000 and $50,000, and the funds can be used to consolidate debt and cover expensive medical procedures. Borrowers also use funds to pay for weddings, moving expenses, and home improvement projects.

You should also expect to receive an interest rate between 7.98 and 35.99, depending on your unique financial situation and credit history. And you’ll have three or five years to repay what you owe without incurring a prepayment penalty if you pay back the loan before the term lapses.

Even better, you can receive loan proceeds directly to your bank account within one business day. However, a three-day window applies if you intend to use the funds to cover educational expenses.

Are Online Lenders the Best Option?

While you always have the option to take out a personal loan with a brick and mortar financial institution, online lenders may be worth a shot. For starters, you are afforded the opportunity to conveniently explore several lenders and loan options in a flash without leaving the comforts of your home.

Furthermore, the entire process can be handled electronically. Simply complete the online application, upload any supporting documentation the lender requests, and receive the loan proceeds directly to your bank account. And some lenders even offer you the luxury of viewing pre-qualified offers with no impact to your credit score.

Plus, some online lenders go the extra mile by offering you monthly credit score updates and tools to help you improve your financial situation. This means you’ll have even more resources to help you reach your financial goals faster.

The Bottom Line

By doing business with an online lender, you’ll receive loan offers almost instantly and you won’t have to wait several days or weeks to get the cash you need. But be sure to only entertain offers from reputable lenders to protect your hard-earned cash and credit rating.

Best Personal Loans for Good Credit (The 2019 Edition)

It’s no secret. The most competitive interest rates on loan products generally go to consumers with good or excellent credit history. If you fall into this category and are in the market for a personal loan, look no further than our recommendations for the best personal loans for good credit.

BestEgg

BestEgg has helped over 450,000 consumers access the funds they need minus the red tape. They are accredited by the Better Business Bureau (BBB) with an A+ rating and have funded over $6 billion in loans to date.

Loans range from $2,000 to $35,000, with a fixed APR from 5.99 to 29.99 percent. An origination fee between 0.99 and 5.99 percent applies. However, the loan amount, repayment term, and interest rate will be determined by your creditworthiness and debt to income ratio.

The proceeds can be used for credit card refinancing, debt consolidation, home improvements, and moving expenses. Borrowers can also use the funds to cover the costs associated with a new baby or adoption, special occasion, vacation, or any other big-ticket purchase.

The application process is rather swift, and same day funding options are available. You should also know that you can inquire about your potential rate with no impact to your credit score.

Credible

Credible grants you access to the best possible rates on personal loans by shopping your information with up to 10 lenders in their network. Whether you’re seeking funds to pay down credit card debt, consolidate installment loans, cover medical expenses, or make a big-ticket purchase, they have a covered. Lenders in the Credible network are as follows:

  • Avant
  • Best Egg
  • FreedomPlus
  • Laurel Road
  • LendingClub
  • LightStream from SunTrust
  • Marcus by Goldman Sachs
  • Payoff
  • Prosper
  • SoFi
  • Upgrade
  • Upstart

Qualified applicants can get a loan from a lender in the Credible network with an APR as low as 4.99 percent, and discounted APRs are available through the loyalty program or when you enroll in autopay. Depending on your debt-to-income ratio and credit score, you have access to up $50,000. However, loan amounts up to $100,000 are available to well-qualified borrowers.

There’s no impact to your credit score to check your loan rates, and it’ll only take two minutes of your time. And should you decide to move forward with the application, you can expect for your loan to be finalized and funded within one to two business days.

Laurel Road

Headquartered in Connecticut, Laurel Road offers personal loan products to help you get by when you’re in a financial crunch. They have been around since 2006 and served thousands of consumers to date. They offer personal loans between $1,000 and $45,000, and the proceeds can be used to pay down debt, take that dream vacation, cover unexpected medical expenses, or however you see fit.

The APR on personal loans from Laurel Road start at 8.01 percent, and you can receive a 0.25 percent discount if you enroll in autopay. As with most personal lenders, creditworthiness plays a major role in the rate you receive, and the more favorable your credit history, the lower the rate that you’ll be eligible for. Also, you can expect a slightly higher interest rate with longer loan terms. To illustrate, their rates by repayment period are as follows:

  • 3-year term: 8.01 to 13.80 percent (fixed APR)
  • 4-year term: 9.16 to 15.20 percent (fixed APR)
  • 5-year term: 10.11 to 16.30 percent (fixed APR)

Another major perk of doing business with Laurel Road is their fee-free structure. They do no impose application or loan origination fees. And if you want to repay the loan early, you will not incur a prepayment penalty.

You can view your rates in two minutes tops to determine if what they’re offering is a good fit for you. There is no impact to your credit score, and should you decide to move forward with the application process, the loan proceeds can be deposited into your bank account in two business days.

Lending Club

If you’d prefer to explore personal loan options from multiple lenders, Lending Club may be a good fit. Lenders in their network offer personal loans of up to $40,000 that can be used to streamline or eliminate debt-repayment altogether, make home improvements, cover big-ticket purchases, or fill the void if an unexpected expense arises.

What makes Lending Club stand out among others in their industry is their competitive fixed APRs, which are as low as 6.95 percent for well-qualified borrowers. To check your rate, simply complete the online form. You’ll receive instant results, and your credit score won’t be impacted unless you continue with the application process. If approved for a loan, expect an origination fee is between one and six percent.

The loan proceeds should be deposited in your account within 7 days as it takes some time for identifying and income documents to be reviewed and approved by the underwriter. You’ll have 36 or 60 months to pay off of your loan, but there are no prepayment penalties if you pay the balance in full before the loan term lapses.

Lightstream by SunTrust

LightStream, a division of SunTrust Bank, is a direct lender that rewards creditworthy customers with some of the most competitive interest rates on the market. You can borrow anywhere from $5,000 to $100,000. And depending on your credit score and repayment term, you may qualify for a rate as low as 3.34 percent, and you’ll have between 24 and 144 months to repay the loan.

Even better, you’ll never pay any loan origination or prepayment penalties with LightStream.

Their personal loan terms are as follows:

  • Loan amounts between $5,000 and $9,999: 4.24 to 9.19 percent (APR)
  • Loan amounts between $10,000 and $24,000: 3.34 to 13.04 percent (APR)
  • Loan amounts between $25,000 and $49,999: 3.84 to 13.04 percent (APR)
  • Loan amounts between $50,000 and $100,000: 3.84 to 13.04 percent (APR)

Quick note: you will 0.50 percent more in interest if you opt-out of autopay.

Loan proceeds can be used to purchase an automobile, remodel your kitchen or bathroom, consolidate debt, install a swimming pool, cover medical expenses, pay for your dream wedding, or purchase a timeshare or boat.

You’ll have the best chance of qualifying for a personal loan from LightStream if you meet the following criteria:

  • Several years of established credit history, along with experience managing both installment loans and revolving (i.e. credit cards) accounts
  • Liquid assets (i.e. cash) that are easily accessible
  • Stable income that allows you to comfortably cover expenses and debts
  • Stellar payment history

It only takes a few minutes to apply online. And if approved, you can upload the requested documentation and receive your loan proceeds today.

LightStream also offers a Loan Experience Guarantee, which grants you $100 if you are not satisfied with the application and loan disbursement process for any reason. In addition, they will beat any other rate that you find from a qualifying lender (but conditions apply).

Marcus by Goldman Sachs

Marcus by Goldman Sachs is another enticing fee-free unsecured personal loan options of up to $40,000 for prospective borrowers with good credit. Loan proceeds can be used to consolidate debt, make home improvements, fund your dream vacation, cover the cost of a wedding, or pay for moving expenses, just to name a few.

The APR on their unsecured personal loan ranges from a low 6.99 percent to 24.99 percent, and you’ll have between 36 and 72 months to repay what you borrow. Should you decide to pay off the loan before the loan term expires, you won’t be assessed a prepayment penalty.

Best of all, you won’t ever have to worry about fees at all with Marcus by Goldman Sachs. New loans do not incur origination or disbursement fees. And in the event you miss the due date, you won’t be charged a late-payment fee, either. Instead, the lender will simply add interest to cover the additional days, and this amount will be payable at the end of the loan term.

Ready to get started? Simply complete the online form and you’ll be only your way to exploring all the benefits Marcus by Goldman Sachs hs to offer. It only takes five minutes to view your rates, and your credit score won’t be impacted. You can also call 1-844-627-2871 if you have additional questions or wish to apply for a loan by phone.

Upon approval, the loan proceeds will be deposited into your bank account between one and four business days. However, the disbursement period will be a bit lengthier for paper applications.

Prosper

Prosper is a peer-to-peer lender that’s been around for over 15 years. To date, they have served close to one million consumers. You may qualify for a loan between $2,000 and $40,000. Interest rates vary by your credit rating, but you can expect to receive a loan term of three or five years.

Personal loans from Prosper can be used in any way that you see fit. But in general, borrowers apply the loan proceeds to debts with high interest rates, wedding or vacation expenses, the cost of adoption, big-ticket purchases, and moving or relocation expenses.

You can get started with Prosper by completing the online application. Your credit score won’t be impacted, and you’ll receive real-time loan offers.

SoFi

SoFi also boasts fee-free personal loans ranging from $5,000 to $100,000. They cater to prospective borrowers with good credit and offer some of the lowest interest rates on the market when you enroll in the AutoPay program. You could qualify for a rate as low as 6.99 percent, but you’ll never pay more than 14.99 percent.

With regards to the fee-free structure, you’ll never pay any loan application, origination, or disbursement fees. Standard loan repayment terms are anywhere from three to seven years, with high APRs for longer periods. But if you wish to pay off the loan early, SoFi does not charge prepayment penalties.

Other SoFi benefits available to borrowers include:

  • Unemployment protection if you are separated from your employer
  • Job search assistance from the Career Advisory Group to expedite the process and quickly get you back to work

You can get pre-qualified with SoFi by completing a brief questionnaire online. There is no impact to your credit score for doing so. And if you’re matched with an offer, simply submit the requested documentation and upon final approval, the loan proceeds will be deposited into your bank account. The entire process, from start to finish, should only take a few business days.

Upgrade

Upgrade is a unique online platform that offers personal loans that are affordable to borrowers. They were founded in 2016 and are committed to helping customers navigate the credit maze so they can make well-informed and responsible lending decisions.

You can apply for a loan between $1,000 to $50,000 to be used for debt consolidation, to pay off credit cards, fund a business, make home improvements, or cover a large purchase. If there’s something else that isn’t on this list, you can use the proceeds for that as well.

You will repay interest anywhere from 6.99 to 35.97 percent APR over the life of the loan. And you’ll have either 36 or 60 months to pay the loan in full. As a customer, you will also have access to tools to help you improve your credit health so you qualify for the best possible financing terms on subsequent loan products.

To check your rate, enter the desired loan amount and loan purpose into the boxes found on the website. You’ll be prompted to answer a few simple questions to determine what loan amount and terms you qualify for. There’s no impact to your credit score to do so, and you’ll only receive a hard inquiry should you decide to move forward with the loan application.

You can have the funds in your account in as little as one business day as long as you get the requested documentation to the loan officer in a jiffy.

Upstart

While Upstart offers competitive interest rates on personal loans to borrowers with good credit, they know that you are more than just a credit score. So, they evaluate other factors, like your income, educational background, and employment history to determine if you qualify and the specifics of your loan offer.

Their loan amounts range from $1,000 to $50,000 and can be used in any way that you wish. However, most borrowers take out personal loans from Upstart to pay down or consolidate debt, cover unexpected medical expenses, pay for moving costs, make home improvements, and take care of wedding and vacation expenses.

Your interest rate will be anywhere from 7.98 to 35.99 percent, and you’ll have three or five years to pay back the loan. To check your rate, fill out the form found online. Doing so will not impact your credit score and should you decide to move forward, the loan can be funded in as little as one business day.

Quick note: you can also use loan proceeds to cover the cost of higher education, but a three-day waiting period applies to the disbursement of funds.

The Bottom Line

You’ve worked hard to earn a good credit rating, so use it to your advantage to score a great deal on a personal loan. And by doing your homework and working with the right lender, you’ll be sure to save a bundle in interest.

Best Bad Credit Auto Loans (The 2019 Edition)

Worried that bad credit will prevent you from getting a car loan? Or maybe you’re a credit newbie with very little income. Check out our best bad credit auto loans that can get you financed and riding in no time.

Best Bad Credit Auto Loans

Auto Credit Express

Auto Credit Express is an online lending service caters to prospective borrowers in the US and Canada with credit challenges. They have been around for 20 years and are accredited by the Better Business Bureau with an A+ rating.

Loan proceeds can be used for new and used vehicles, or to refinance an existing loan product. Financing for lease options is also available to borrowers with less than perfect credit. Even better, you may be able to qualify for a loan with as little as $500 down, and some lenders may not require a down payment at all. Another perk of using this service is that they may still be able to match you with a lender, even if you’ve recently filed for bankruptcy.

To explore loan options that may be available to you, simply fill out on the online form on their website. In less than three minutes, you’ll know if you qualify for auto loan financing from lenders in the Auto Credit Express network. There’s no impact on your credit score to use this service. But if you’d prefer to inquire about bad credit auto loan options by phone, you can also call 1-855-439-0814.

Blue Sky Auto Finance

Founded in 2004, Blue Sky Auto Finance is another well-known lending network that can help you get approved for a car loan, regardless of your credit rating. And past bankruptcies don’t automatically disqualify you for financing.

They work with a vast network of lenders and auto dealers nationwide and can help you qualify for a loan with an APR as low as 3.99 percent. Plus, you’ll have up to 72 months to repay the loan, which helps make the monthly payment more affordable.

When you submit your information using the three-step online form or by calling 1-800-BLUE SKY, they will use their auto loan and comparison tool to match you with up to four lenders that can help you get the financing you need. Loans are valued at up to $30,000 and can be used to purchase a new or used car, truck, or sports utility vehicle. You can also use the loan proceeds to refinance your existing auto loan if you wish to keep your current vehicle.

Capital One Auto Finance

While Capital One doesn’t cater specifically to consumers with less than perfect credit, you may be able to qualify for an auto loan with a credit score as low as 500. And what makes them stand out above the rest is that their one of very few mainstream lenders to do so.

You can use their Auto Navigator tool to not only secure financing but select a ride that best suits your needs through one of over 1,000 partnering dealers. The tool also makes it easy to find your dream ride by simply snapping a photo and using the “search by photo” feature to let the Auto Navigator do the work for you.

There’s no impact to your credit score, and you’ll be able to view pricing information (i.e. interest, monthly payment repayment terms) on the particular make and model you select directly from the dashboard. And if a particular repayment term, monthly payment, or downpayment doesn’t work for you, the tool gives you the option to customize a loan offer that’s not too tough on your wallet.

If you aren’t quite sure which vehicle you’d prefer, there’s an option to search all the vehicles at partnering dealerships by location or price. Even better, you can view real-time pricing information on any of the vehicles listed.

Loans are available on both new and used cars, trucks, minivans, and SUVs. However, the vehicle must be priced at $4,000 or more and not have over 120,000 miles. It must also not be older than a 2008 model year.

To receive a pre-qualified offer, complete the short online questionnaire or call 1-800-689-1789. Upon completion, you’ll receive an almost instantaneous response with your loan terms.

Cars Direct

Although they are not a direct lender, Cars Direct works with an array of dealerships and subprime lenders to help you get the financing you need for your ride, regardless of your credit history. That means little or no credit, along with past bankruptcies won’t disqualify you from getting a loan offer. They’ve been around for over 20 years and have served over 5 million customers.

Dealers and lenders in their network offer loans on new and used vehicles, or you can refinance your existing auto loan. You can explore your options by submitting the auto loan request form found on the website, which will give you a response in as little as one minute. The process can also be initiated by calling 1-888-227-7347 or initiating a live chat with one of their customer service representatives.

If Cars Direct finds a match, the lender will reach out to you within a 24-hour window to discuss your loan options. At that time, they will also tailor a loan solution for you and help you find a vehicle you can comfortably afford.

CarFinance.com

CarFinance.com was founded in 2011 and has served thousands of customers. They are a loan matching service that specializes in helping those with credit woes secure a loan for a new or used ride. You can also apply for a refinancing loan.

If you have a credit score of at least 525, you may qualify for financing. Even better, you may be able to qualify for a loan with a competitive interest rate without making a down payment, which is not common for subprime loans.

To explore your options, submit the online form. It only takes a few minutes of your time. And there’s no impact to your credit score. If approved, you’ll be able to use the Loan Driver tool to view detailed pricing information for your loan offer. Another major perk is that you’ll be able to complete the loan application process directly from your computer before you head to the dealership to pick out your ride.

Carvana

Carvana offers auto loan solutions for borrowers with bad credit. What makes them unique is that they’re also an online dealer, so you’ll be dealing with a one-stop-shop which saves a ton of time and possibly money. All you need to qualify is an annual income of $10,000 or more and no active bankruptcies.

Fill out the online form and receive an instant response. It only takes two minutes, and submitting an inquiry won’t impact your credit score. And if you’re approved but need more time to evaluate your loan offer, explore other options, or prepare your finances for a new loan, you’ll have up to 45 days to make a decision.

You also have the option to adjust your desired loan amount, monthly payment, and down payment to best suit your needs. Best of all, you can view actual pricing information for the particular vehicle you’re interested in purchasing.

But in the unfortunate event that you’re unable to qualify for an auto loan product from Carvana, you may still be in luck. They work with several third-party lenders to help you get approved for a loan.

DriveTime

DriveTime is a one-stop shop for consumers with bad credit that are seeking an auto loan. You can choose a vehicle from their inventory of over 15,000 used cars, trucks, and SUVs.

If you’re ready to make a purchase, you can work directly with their in-house financing department to get approved for a loan. The online application is straight-forward and it only takes two minutes to receive a lending decision. You can also call 888-418-1212 to get the application started.

Once you’re approved, the next step is to peruse all the vehicles they have to offer. While doing so, you can also view loan details, including the monthly payment, interest rate, and minimum downpayment requirement, in-real time directly from the DriveTime dashboard.

And once you’ve selected the perfect ride, you can finalize the loan offer and hit the road in your new ride in no time. Another added benefit is that they’ll give you access to your credit score.

Liberty Auto Loan

Liberty Auto Loan offers bad credit auto loans to get your credit ranking back on track. They are a BBB Accredit Business that operates as a loan matching service to help borrowers with bad credit get the best deal on auto loan financing.

It only takes a few minutes to use the service. And even if you’ve recently filed for bankruptcy, you may still qualify for a loan. If you’re matched with a lender, expect to receive a response within a 24-hour window.

RoadLoans

With over 18 years of experience, RoadLoans is a direct lender that specializes in car loans for those with less than perfect credit or credit newbies. You may also qualify for an auto loan on your next car, truck, or SUV purchase or refinance, even if you have a past bankruptcy on your credit profile.

With over 14,000 dealers across the United States in their network, you shouldn’t encounter any difficulty when searching for the perfect ride. You can also use the loan proceeds to refinance your current auto loan. You can apply for a loan directly from their website and receive an instant lending decision.

myAutoloan

myAutoloan is another online search and comparison tool that can connect you with lenders with less than perfect credit. A FICO score of at least 500 and a monthly income of $1,800 may be enough to qualify for a loan.

When you apply, you’ll be matched with up to four lenders that may be able to assist. And if you are approved, the vehicle must be no older than 10 years old and have less than 125,000 miles. The loan amount must also be at least $8,000 to qualify for financing or refinancing.

How to Get Approved for a Bad Credit Auto Loan

Check Your Credit

Your credit score is an integral part of your profile that most lenders will weigh heavily when evaluating your loan application. And while it may be possible to get approved for an auto loan with a low credit score, working to improve this three-digit number only strengthens the odds of being approved for a loan with a lower interest rate and minimal down payment requirement.

So, it’s best to start by retrieving a free copy of your credit report at AnnualCreditReport.com from each of the three credit bureaus – Equifax, Experian, and TransUnion – and reviewing them to confirm the accuracy of the contents. But should you spot any errors, dispute them promptly to ensure your credit score is updated to accurately reflect what’s in your credit report.

Run the Numbers

How much can you afford to pay each month for a car loan? And once the monthly payment is made, will there be enough wiggle room in your budget to cover insurance, routine maintenance and major repairs (as needed)?

Explore Lenders

While it may be convenient to go with the first lender that offers you a loan, specifically if you’ve had trouble securing financing because of your credit woes, it’s best to do your homework. Simply put, shopping around gives you the best chance of securing an auto loan with a competitive interest rate, which is especially important with subprime lenders that tend to charge sky-high interest rates to risky borrowers.

And no need to worry about multiple inquiries dragging down your credit score each time you apply for a loan. Why so? Well, the FICO credit scoring model allows you to apply for financing with several lenders and only counts a lone hard inquiry if the applications are submitted within a set period of time.

Apply with the Top Lenders

Once you’ve narrowed down your top three or four lenders, it’s time to start applying. Be prepared to provide your name, personal identifying information, employment data, and any corresponding documents to substantiate the data present on your application. This includes recent pay stubs, tax returns, and possibly bank statements.

Finalize the Loan Terms

Don’t settle for the first loan offer the lender presents you with. Instead, negotiate the terms to see if you can get a better deal. Something as simple as a one-percent reduction in the interest rate can save you hundreds, if not thousands over the life of the loan. And you may also be able to convince them to lower the minimum down payment requirement so you won’t have to put a large sum of money on the table right out the gate.

Sign on the Dotted Line

Before you commit to the loan, it’s important to read the fine print and ask about any contents that you need clarity on. And once you’ve done so, you can sign on the dotted line and rest assured knowing that you went the extra mile to find the best bad credit auto loan for you.

The Bottom Line

Subprime lenders offering exorbitant interest rates aren’t the only way to go when considering bad credit auto loans. Since there are scores of direct lenders with competitive financing offers, along with online search and loan comparison tools, you should be able to find an auto loan in no time, even if you have bad credit.

Best Personal Loans for Bad Credit (The 2019 Edition)

When you’re strapped for cash but have less than perfect credit, you’ll quickly find that getting a personal loan from your financial institution is difficult. But that doesn’t mean you have to settle for payday loans or cash advances with stringent repayment terms and astronomical interest rates.

Below is a comprehensive list of the best personal loans for bad credit:

Avant

If your credit score is at least 600, you may qualify for a personal loan of up to $35,000 from Avant. Depending on your income and creditworthiness, the APR you receive will range from 9.95 to 35.99 percent.

You can view your loan options via the website without generating a hard inquiry. Be prepared to provide your name, address, Social security number, and information about your income. It only takes a few minutes of your time to submit an inquiry online, and your credit score won’t be affected. There’s no obligation to accept the loan offer or move forward with the application process.

But should you decide to take out a personal loan with Avant, you may be charged an administration fee of up to 4.75 percent when the loan proceeds are deposited into your bank account. This amount will be deducted from the total loan amount upfront and disclosed in the loan paperwork. However, the good news is you can expect the funds to hit your account within one business day.

The loan repayment period you receive will be anywhere from 24 to 60 months. And if you wish to pay off the balance early, you will not be responsible for prepayment fees.

CashUSA

CashUSA is an online search and comparison tool that helps connect borrowers that have less than perfect credit with lenders that can help them get the cash they need when in a financial bind. Loan amounts range between $500 and $10,000, with terms from 90 days to 72 months. And you should expect to pay an APR of 5.99 to 35.99 percent.

To qualify for a loan with a lender in the CashUSA network, you should meet the minimum criteria outlined below:

  • Be at least 18 years old and a U.S. citizen or permanent resident
  • Have a verifiable source of post-tax income of at least $1,000 per month
  • Possess a checking account and be listed as the primary account holder

Want to explore loan options that may be available to you through lenders in the CashUSA network? Simply visit the website and input the amount you wish to borrow, your name, zip code, and email to get started. You can also call 1-866-973-6587 if you’d prefer to speak with a loan officer.

If you’re matched with a lender and accept a loan offer, the next step is to provide any requested documentation to the lender to substantiate the information provided in your loan application. And once the loan is finalized, the proceeds will be deposited into your bank account in as little as one business day.

BadCreditLoans.com

As the name indicates, BadCreditLoans.com is loan search service that caters to consumers with bad credit. With over 20 years in the industry, they make it simple for cash-strapped customers to find personal loans even if their credit isn’t up to par.

Loan amounts range from as little as $500 to as much as $5,000. And depending on the loan offer you receive, you’ll have between three and 36 months to repay the loan.

Wondering if you qualify for a loan? While there isn’t a minimum credit score requirement that you have to meet, you should meet the following criteria:

  • Be 18 years of age or older
  • Be a U.S. citizen or permanent resident
  • Receive a steady source of income, which can be from a full-time job, disability or Social Security benefits. Self-employment income from applicants will also be considered.
  • Have an open checking account in your name

And no matter how low your credit score is, a steady source of income and a valid checking account may be enough to get you approved for a personal loan.

To review your loan options, select the amount you want to borrow and enter your email address. Once you select the “Get Started!” button, you’ll be led through a series of questions regarding your finances, employment, and income to determine if any of the lenders in the BadCreditLoans.com network are a good match.

LendingPoint

Accredited by the Better Business Bureau (BBB), LendingPoint is a direct lender that has served thousands of customers and loaned over $500 million to consumers nationwide. To date, they serve customers in 34 states and the District of Columbia.

The leadership team understands that you are more than your credit score, and will go the extra mile to evaluate if you’re a good fit for a personal loan product.

Loans between $2,000 and $25,000 are available, and you could receive the loan proceeds in as little as one business day. Most borrowers have credit scores in the 600s and meet the following criteria:

  • Be 18 years or older
  • Earn an annual income of at least $20,000. (Earnings can be generated from full-time employment, self-employment, retirement earnings, or other valid sources of income).
  • Have a bank account in your name

You can get pre-qualified for a loan from LendingPoint without impacting your credit score. All you have to do is answer a few questions about the desired loan amount, intended use, and your income. If the loan is a good fit, you’ll be asked to provide a copy of your driver’s license, bank statements, a voided check, and proof of income so the loan officer can review the information provided in the loan application. And as mentioned earlier, the loans proceeds will arrive in your bank account in as little as one business day once the application is finalized.

But if you’d prefer to search elsewhere before making a loan decision or reject the offer right away, there’s no penalty for doing so.

MoneyMutual

MoneyMutual is a free online marketplace that will help you find bad credit loans so you can get the money you need in a jiffy. They’ve helped over two million borrowers and have the tools to assist you as well. Even better, the application process is streamlined and will only take five minutes of your time.

You can borrow as much as $2,500, but the loan terms, including the interest rate and repayment period, will vary by lender. To qualify, lenders will generally require you to meet the following criteria:

  • Be 18 years or older
  • Be a citizen or permanent resident of the U.S.
  • Have a steady source of income of at least $800 per month. (Self-employment and fixed income will be considered).
  • Have a valid checking account

Visit the website to get started with the loan application process. If there’s a match, you’ll be directed to the lender’s website to complete their application and upload any requested documentation. At that time, you’ll also receive the details of your loan offer, including the amount you’re approved for, interest rate, and repayment period.

NetCredit

Headquartered in Chicago, NetCredit is a financial services provider that looks beyond credit scores to get prospective borrowers cash to meet their financial needs. But unlike many other lenders out there, they go as far as offering resources to help you improve your credit profile while repaying the loan.

They offer personal loans from $1,000 to $10,000. Origination fees do apply, but they will are determined by your state of residence. Furthermore, the interest you’ll pay on the loan depends on your income and creditworthiness.

You can check your eligibility online without impacting your credit score. And if approved, the loan proceeds could arrive in your bank account by the next business day.

When you take out a loan with NetCredit, you’ll be able to take advantage of a host of benefits, including:

  • The ability to tailor your loan offer to best suit your needs with the My RightFit Tool
  • Clarity on your loan terms, including the interest rate, fees, and how much you will pay over the life of the loan with the ClearCost for Me promise
  • The ability to check your loan options in real-time and not hurt your credit score with MyScoreSaver
  • The option to return the loan proceeds before 6 pm CT on the business day following initial disbursement with the My Choice Guarantee
  • Credit boosting capabilities since loan payments are reported to both Experian and TransUnion with MyCreditBuilder

If you have additional questions about personal loans for bad credit from NetCredit, give them a call at 1-877-392-2014.

NorthCash

NorthCash offers installment loans between $300 and $1,500 to borrowers with varying credit backgrounds. But keep in mind that this loan should only be used as a short-term solution for borrowers with credit issues because the APR can be a bit steep.

However, it still stands out as one of the best personal loans for bad credit because it’s easy to qualify and get your loan funded.

You can check your rate online without impacting your credit score. But if you’d prefer to initiate a loan request by phone, call 1-855-333-6570 and a customer care specialist will walk you through the application process.

And if approved, expect to see the funds in your bank account in as little as one business day once you’ve forwarded over the necessary documentation, which typically includes a copy of your most recent bank statement and proof of income.

OneMain Financial

OneMain Financial fully embraces its slogan, lending done human, by looking beyond the algorithms to get consumers with credit woes the cash they need when in a financial crunch. Loans range from $1,500 to $30,000, and the proceeds can be used in any way that you see fit.

 

Most traditional lenders have strict minimum credit scores that they require to even be considered for funding. However, One Main Financial examines your entire profile, including your income, expenses, debt obligations, and collateral (if applicable), to find a solution that best suits your need. Even better, they have branches throughout the U.S. so you can sit down with a loan officer to review options that may be available to you.

They also boast same-business day funding options. But to take advantage of this perk, your loan application will need to be approved and processed by noon. And should you decide to pay the loan off early, you won’t be assessed a prepayment penalty.

To get started with the application, complete the online form. You’ll receive real-time results without impacting your credit score.

PersonalLoans.com

PersonalLoans.com is an online search tool with a vast network of lenders that cater to prospective borrowers with credit issues.

Their personal loan offerings include:

  • Peer To Peer Loans: Loan amounts range from $1,000 to $35,000. You’ll need a minimum credit score of 600 to qualify, and you must have a steady and verifiable source of income that’s at least $2,000 per month.
  • Personal Installment Loans: With a credit score of 580 or higher, you may qualify for a personal installment loan between $1,000 and $35,000. The lender will review your income and other outstanding debt obligations to determine how much you are eligible to receive. You will need a verifiable source of employment or self-employment income. Government benefits are also eligible for consideration.
  • Bank Personal Loans:

While less than perfect credit won’t automatically disqualify you for a loan, lenders are more likely to approve applicants with accounts that are not more than 60 days past due, do not have recent or active bankruptcies, are not repeatedly late on payments to creditors, do not have recent charge-offs. You must also have an ample amount of income to cover existing outstanding debt obligations

With regards to loan terms, you’ll receive an interest rate that’s anywhere from 5.99 to 35.99, which is substantially lower than what you’d find with payday lenders. Repayment periods range between 90 days and 72 months.

To determine if you qualify for a loan from one of the lenders in the PersonalLoans.com network, Insert name and email address into the online form. If there’s a match, you’ll be able to view your rates right away.

However, you are not obligated to accept the offers presented to you. But should you decide to move forward, the entire process done on the PersonalLoans.com online Account Center.

The Bottom Line

By doing a little legwork, you’ll be able to secure a personal loan even if your credit isn’t up to par. Start with this comprehensive list of lenders to analyze what options are out there. And most importantly, start making strides towards improving your credit health. That way, you’ll have even more options to choose from later on down the line.

Best Auto Loans (The 2019 Edition)

Are you in the market for a new vehicle? Finding your ride is the easy part but getting approved for a loan may be a bit more legwork. And if you have less than perfect credit, you may encounter a few roadblocks along the way. So, we’ve compiled a list of options to help you get started. Here are the best auto loans on the market:

Best Auto Loans for Good Credit

If you have excellent or even good credit and the income to back it up, you shouldn’t have any trouble securing a loan with a competitive interest rate. Here are some of the best options on the market:

CarsDirect

For over 20 years, CarsDirect has made car ownership dreams a reality for over 5 million customers. They are an online search tool that connects those searching for an auto loan with a lender in their network that offers competitive financing terms.

Prospective borrowers can get approved for an auto loan for CarsDirect with an APR as low as 3.09 percent, which is one of the lower rates on the market. (If your credit isn’t up to par, you’ve recently filed for bankruptcy, or you’re a credit newbie, CarsDirect may be able to assist, but you’ll pay more in interest).

You can apply online or call 1-888-227-7347 to get started. It only takes 60 seconds to complete the loan request form, and you should hear back from a dealer within the CarsDirect network within 24 hours regarding financing options if you pre-qualify for a loan.

Lending Tree

Lending Tree allows you to view multiple offers from auto lenders through their website. Lenders in their network offer repayment terms from one to seven years with APRs as low as 3.09 percent.

But if your credit falls below what they deem as excellent or good, you won’t automatically be denied. Instead, you may be offered a higher interest rate or and asked to make a larger down payment to get approved.

Ready to explore your loan options? Select the type of loan you’re looking for along with the desired loan term. Next, you’ll be prompted to answer the series of questions to view your results. You can also call 1-800-413-4620 to speak with a customer care representative.

MyAutoLoan

Another way to view several auto loan options at your fingertips is the myAutoloan.com platform. It only takes two minutes of your time to input identifying and income information to determine what loan offers you qualify for. And if the platform finds a match, you’ll be presented with options from up to four lenders in real-time.

Interest rates for well-qualified borrowers start at 2.74 percent. But if you are unsure of where your interest rate will lie on the APR spectrum., you can use the Auto Loan Interest Rate Calculator to get an idea of where you stand based on the desired loan type, loan amount your credit rating, credit score, and zip code.

You can apply via the website or by calling 1-214-540-3350. If approved, you’ll receive a check or online certificate to purchase your vehicle within 24 hours. However, there’s no obligation to accept any of the finance offers presented if they aren’t a good fit.

Best Auto Loans for Bad Credit

What if your credit doesn’t hit the mark and you fall into the subprime borrower category? Don’t fret? You may still be able to secure financing for a new ride. Start by seeing what these lenders have to offer:

Auto Credit Express

Auto Credit Express is accredited by the Better Business Bureau and has helped scores of customers with bad credit find auto loan financing. Their online lending tool matches prospective borrowers with lenders that can serve them.

Recent bankruptcies and major collection issues won’t automatically disqualify you for financing. Furthermore, you may not be required to make a large down payment as some lenders may accept as little as $500.

Rates and repayment terms vary by lender, and you can view your loan options by using the online form found on the website without impacting your credit score. Prefer to speak with a loan representative by phone? Call 1-855-439-0814 to get started.

Blue Sky Auto Finance

Blue Sky Auto Finance, a lending network that has been around for over 14 years, is connected to an array of lenders that specialize in bad credit auto loans. The loan term you qualify for will depend on your individual financial profile, but past bankruptcies and collections are ok.

Loan amount of $30,000 with repayment periods of up to 72 months are available. Even better, you may qualify for an interest rate (APR) as low as 3.99 percent on your auto loan.

To explore your loan options through a lender in the Blue Sky Auto Finance Network, complete the three-step form found on the website. You can also call 1-800-BLUE-SKY for additional assistance. The information input in the search tool will be analyzed and matched with up to four lenders that you may be able to help you secure financing.

Capital One Auto Finance

If you have a credit score of at least 500, Capital One Auto Finance may be able to assist you with an auto loan. You can get pre-qualified online in just a few minutes with no impact to your credit score.

And once you’re in the clear, they offer an Auto Navigator that lets you explore vehicles for sale by over 1,000 dealers in their network. Even better, you can conduct advanced searches by the desired year, make, and model of the vehicle, and view the pricing information based on the loan terms you qualify for.

Before getting started, you should know that the vehicle must meet the following criteria:

  • Have a price point of at least $4,000
  • Not have over 120,000 miles
  • Be at least 2008 or newer

DriveTime

DriveTime is a leader in the industry for bad credit auto loans. You can initiate the loan application process online or by visiting a DriveTime location, picking out the vehicle of your choice, and discussing financing options from there.

What makes them unique is that they have a fleet of over 15,000 used vehicles, and handle the financing in-house so you won’t have to go elsewhere. And all types of credit are accepted as long as you have the income to make payments on the loan.

RoadLoans

RoadLoans also caters to lenders with bad credit. They are a direct lender with over 14,000 dealers in their network. Auto loans are available on both new and used vehicles, you don’t necessarily have to make a hefty down payment to get approved.

You can check your rates by applying online or calling 1-888-276-7202. You’ll receive a lending decision in seconds so you can start shopping right away. But if you’d prefer to search for loans from other lenders or ditch the auto buying process altogether, you won’t be penalized as there’s no obligation to accept the loan offer you receive.

Traditional Banks

Prefer to do things the traditional way? Below is a list of brick-and-mortar banks that have reputable auto loan products worth considering:

Bank of America

In just about every city in the U.S., you’ll spot Bank of America filled with representatives waiting to do business with you. Their rates on 60-month loan terms start at 3.59 percent. However, this figure varies by your state of residence, loan term, and creditworthiness. And you may qualify for an even lower rate if you’re an existing Bank of America customer.

To see if you qualify for an auto loan from Bank of America, complete their brief online application. You’ll receive an instant decision and can shop in confidence knowing that your financing is already taken care of.

Chase

Chase is another traditional lender that offers competitive financing options for vehicle purchases. They’ve been around for several years and have served over 3.7 million auto loan customers.

Interest rates start at 4.34 percent APR, by vary by loan term and creditworthiness. And you’ll have 48, 60, or 72 months to pay off your loan balance. If you wish to see an estimate of the loan terms you’ll receive, use the Auto Loan calculator found on the website. You’ll need to indicate if you’re seeking a new or used vehicle, along with the year and make, your state of residence, your estimated credit rating, and the amount you’re looking to borrow.

LightStream

LightStream by SunTrust Bank is one of the only lenders in the auto loan marketplace that offers fee-free loans to borrowers with excellent credit. Interest rates start at only 3.34 percent when you enroll in AutoPay, and you’ll receive a loan term from 24 to 84 months. (You can view interest rates by loan amount and repayment period directly on the website).

Other borrower perks include:

  • The Rate Beat Program: LightStream will lower your interest rate (APR) by .10 percentage points if you find a lender offering a better rate. Conditions apply.
  • The $100 Loan Experience Guarantee: if you aren’t satisfied with the loan experience, you’ll receive $100 for your troubles.

You can initiate the loan application process online or by visiting a SunTrust Bank branch. If approved, submit the requested documentation and you could receive your loan proceeds the same day.

USAA

If you’re a USAA customer searching for an auto loan, you’re in good hands. Their interest rates (APRs) are as low as 3.09 percent and 3.79 percent on new and used auto loans, respectively. Even better, you can lock in your rate for up to 45 days if you need time to explore other loan options or find the perfect ride.

You could also qualify for a loan term of up to 84 months, which makes your monthly payment more affordable. And they even offer a car buying service to facilitate the search process and help you save a bundle on the final purchase price.

To determine if you pre-qualify, submit the online application. It only takes a few minutes and if approved, you can upload the supporting documents, e-sign your loan contract, and receive a check to go shopping in a jiffy.

Credit Unions

Credit unions also have a track record of extending low rates to auto loan customers because of their cooperative structure. Here are some of the best choices out there:

Alliant Credit Union

You may qualify for an auto loan with an interest rate (APR) as low as 3.74 percent. Even better, a 0.50 percent rate discount applies if you use their car buying service to find the perfect vehicle for you. The lowest rates are only available on auto loan terms of up to 60 months, but you may qualify for a repayment term of up to 84 months.

Alliant accepts auto loan applications by phone at 1-800-328-1935 or online. Funding decisions are usually made the same business day, and customer service representatives are standing by 24/7 to assist you with your purchase. And once your loan is approved and finalized, proceeds will be forwarded to your or the dealer overnight via FedEx.

Navy Federal Credit Union

The auto loan rates offered by Navy Federal Credit Union are among some of the lowest in the industry. Depending on your credit rating, you could qualify for financing on a new or used vehicle with a rate as low as 2.99 percent (APR). They also offer repayment terms from 36 to 96 months, so you can tailor the monthly payment so it’s affordable and doesn’t implode your budget.

Their application process is straight-forward and won’t take up too much of your time. Even better, you’ll know within five minutes if you’re approved so you can start shopping for the car of your dreams.

Suncoast Credit Union

Suncoast Credit Union members can access rates as low as 3.25 percent (APR) on new and used auto loan financing. Loan terms start at 36 months, but you may be eligible for a repayment period as long as 72 months.

They also offer a car buying service via CU Auto Branch that allows you to save a bundle on your new vehicle. Or you can purchase a vehicle through a member-only Suncoast Car Sale, and receive up to 125 percent loan-to-value.

To apply, complete the online application. You can also visit a branch to explore your auto loan options.

The Bottom Line

When shopping for an auto loan, be sure to explore several lenders before making a decision. That way, you can rest assured that you’re securing the most competitive financing terms.

Best Mortgage Lenders (The 2019 Edition)

You’ve dreamed of owning your own home or upgrading to something nicer than what you’re currently in. Now that your finances are in order, you’re ready to move forward with finding the perfect home that meets you and your family’s needs. And you’re so excited about the home search that you forget to scope out the best mortgage lenders first to determine if the budget you had in mind was sound and what type of down payment and monthly obligation you’re looking at.

So, you set out to find exactly what you’re looking for. And after a few homes, you walk into the one that’s just right for you. But there’s only one problem: your finances aren’t suited to handle the purchase. Bummer, and you’ll have to start from scratch. Sound familiar?

It’s easy to get so drawn into searching for a new home that you forget how important it is to secure the most competitive mortgage for your financial situation. But this doesn’t have to be you. In fact, you can be well-prepared before you even step foot into a home that’s on the market. Plus, you can get through the pre-approval process without pulling your hair out.

That’s why we’ve compiled a list of the best mortgage lenders to lend you a helping hand.

Online Lenders

Lending Tree

Since 1998, Lending Tree has helped consumers secure financing for big-ticket purchases, like your first or next home, at the tap of a fingertip. They’re an online loan marketplace that allows borrowers to view loan offers from multiple lenders at once. Lending Tree also offers online tools, including mortgage calculators and mortgage rates in real-time, to help you make an informed lending decision.

Lenders in the Lending Tree network offer convention, FHA, and VA loans. The loan products and terms that you qualify for will depend on your income, credit score, employment history, cash reserves, and the amount you have available for a down payment.

If pre-qualified, you can view offers from up to five lenders by answering a few questions on their website. It won’t take more than a few minutes, and you’ll know where you stand and how to best move forward with the mortgage application process.

PennyMac Home Loans

Penny Mac is an A+ rated and BBB Accredited direct mortgage lender. They have been around for over 10 years and served over one million customers to date.

They offer conventional, FHA, VA, USDA, Investment Property, and Jumbo loans. Along with their vast selection of mortgage offerings, they also boast the Mortage Access Center (m.a.c.). In a nutshell, m.a.c. allows prospective buyers to complete the mortgage process from start to finish in the comforts of their own home. This means you can get pre-qualified, complete the entire mortgage application, view updates on your loan status, and upload the requested documentation all in one place.

You can get started with Penny Mac by submitting an inquiry online or calling 1-855-445-8557. And if you like the rate quote you receive and wish to move forward, you can begin the formal application process right away.

Rocket Mortgage

A subsidiary of Quicken Loans, Rocket Mortgage has redefined the home loan process by streamlining the way you secure a mortgage. There’s no paperwork involved and you’ll have a Verified Approval Letter in your hands within 24 hours of your documentation being received and verified by a loan officer.

To explore your rates, you’ll need to share some information about your finances via the website. If you’re a good fit, loan offers will be presented to you the same day. And you’ll have the ability to adjust down payment amounts directly on the dashboard to reach the desired monthly mortgage payment.

Even better, you have 90 days to decide if a mortgage offer is a good fit, thanks to the RateShield Approval program. (Quick note: this benefit only applies to consumers seeking a 30-year fixed-rate, convention, FHA, or VA home loan.

Vylla

Vylla is a one-stop shop for prospective homebuyers. You can search for the perfect home and secure financing directly from their website. And through the help of a home specialist, you’ll be able to navigate the home buying process, step by step, without pulling your hair out.

They also have several tools on their website to make your home buying experience seamless and pleasant, including the Infohub that is full of tips you’ll need every step of the way. Or you can use one of their affordability calculators to determine the perfect loan for you based on your desired monthly payment or purchase price.

You can initiate a loan inquiry by signing up on the website. Once you’ve entered your name, email address, phone number, and created a username and password, you’ll be directed to a questionnaire to help you determine what loan options may be a good fit.

Brick and Mortar Lenders

Carrington Mortgage Services

Carrington Mortgage Services is a direct lender that prides itself on stellar customer service. Accredited with an A+ rating by the Better Business Bureau, they have been serving consumers since 2007 and have funded over $22 billion in home loans since 2011.

They offer an array of mortgage products that can be tailored to suit your needs, including conventional, jumbo, adjustable-rate, FHA, USDA, and VA homes loans. Carrington Mortgage Services also has a First Time Buyers program that has flexible qualification criteria and allows you to secure a fixed rate mortgage with a low down payment. In addition, their Flexible Advantage home loan product caters exclusively to first-time homebuyers, those who are self-employed or those with less than perfect credit or a relatively high debt to income ratio.

To explore your loan options, call 1-888-267-0584 to speak with a loan officer. You can also visit one of their offices to get the ball rolling. They currently have locations in Arizona, California, Connecticut, Florida, Indiana, and Maryland.

CitiMortgage

CitiMortgage wants every prospective borrower that crosses their path to be equipped with the knowledge they need to make an informed home loan decision. For this reason, they have an assortment of tools on their website to help you navigate the mortgage process. And if you’re a customer, you may qualify for even lower rates than what’s advertised through Citi Mortgage Relationship Pricing.

Currently, CitiMortgage offers fixed-rate and adjustable rate mortgages, as well as FHA, VA, and Jumbo Loans. You may also qualify for a HomeRun mortgage that is designed for borrowers that may not have a ton of cash for a large down payment or need more flexible credit criteria.

Their SureStart Pre-approval process is very straightforward and will give you a snapshot of your loan options within minutes. You’ll also be able to view your credit score directly from the dashboard so you’ll know where you stand and if you should work to improve it before selecting a home in an effort to secure a lower interest rate.

To speak with a Home Lending Officer about your mortgage options through Citi, call 1-800-248-4638. They’re available Monday through Saturday and will be able to help you get on the right path to find a suitable loan product for your financial situation right away.

Loan Depot

Since opening their doors in 2010, Loan Depot has funded over $30 billion in new home purchases for consumers across the US. They are headquartered in Southern California but have over 150 offices nationwide with licensed loan officers standing by waiting to help you find the perfect mortgage product for your financial situation. You should also know that LoanDepot is the fifth largest retail mortgage originator in the nation.

Loan Depot offers fixed and adjustable rate mortgages, Jumbo loans, VA loans, and FHA loans. Qualification criteria vary by loan product but having less than perfect credit or minimal funds on hand to make a down payment won’t necessarily prevent you from qualifying for a loan. In fact, some of their loan products are catered towards customers with credit challenges or that fall into lower income brackets.

If you’re interested in exploring mortgage products from Loan Depot, visit one of their local branches. You can also call 1-888-983-3240.

SunTrust Mortgage

Whether you’re a first-time homebuyer or are looking to purchase the home of your dreams, SunTrust Mortgage has a loan product for you. Their offerings include fixed and adjustable-rate mortgages, FHA Loans, USDA Loans, VA Loans, and Jumbo Loans.

Unlike other mortgage providers on the market, they have a Doctor Loan program that is designed to get Licensed Residents, Interns, Fellows in MD, DO, and DPM programs and licensed Physicians and Dentist into a new home. Fixed and adjustable-rate mortgages are available, and you may be eligible for 100 percent financing if qualified.

They also boast a Medical Professional Mortgage program that grants exclusive perks to those employed in the medical field. If qualified, you won’t be required to carry mortgage insurance, and you could get approved with as little as three percent down. Furthermore, SunTrust permits seller contributions of up to three percent to lower how much you have to come out of pocket when closing on your new home.

If you’re interested in exploring mortgage options from SunTrust that may be available to you, call 1-877-320-6591 or visit one of their branches to speak with a loan officer. You can also get pre-qualified online by applying through the SmartGUIDE app.

U.S. Bank

U.S. Bank makes it easy to acquire the home loan knowledge you need and get pre-qualified in minutes. Their website is full of resources to help you navigate the mortgage maze and you can also apply at the tap of a fingertip.

As a prospective borrower, you may be eligible for a conventional fixed-rate loan, adjustable-rate mortgage, FHA loan, VA loan, or Jumbo loan. But if you’re looking to flip homes in the near future or even build your own home, you may want to check out their investment property loans or new construction and lot loans.

Are you already doing business with U.S. Bank? That’s great news as you may be eligible for a discount of 0.25 percent of the loan amount, which can be deducted from the closing costs (capped at $1,000).

To retrieve a mortgage eligibility letter (if qualified), visit the U.S. Bank Loan Portal to apply. You can also call 1-888-291-2334 or visit a branch to speak with a Loan Officer.

Credit Unions

Alliant Credit Union

Alliant prides itself on one-to-one interaction with each of its clients. They go the extra mile to help prospective homeowners achieve their goal of purchasing a home and keep as much of their hard earned money in their pocket as possible.

You can choose from a fixed-rate or adjustable-rate mortgage, and the rates are some of the lowest on the market. Even better, you can lock in your rate for 60 or 120 days with all loans or new construction loans, respectively.

There’s no application fee, and you may not be required to make a down payment if you’re a first-time homebuyer that’s well-qualified. Furthermore, there are no application or escrow waiver fees, and your origination fee could be as little as $995.

Another major perk is the cash back rebate program, which grants you up to $6,500 when you purchase your new home through the Alliant Home Rewards program. But if you sell your existing home and purchase a new home through the program, you could receive up to $13,000 cash back within 45 days of the closing date.

Considering a home loan from Alliant Credit Union? Call 1-800-365-7003 to speak with a home loan specialist that can help guide you in the right direction. And if pre-qualified, you can customize your loan quotes to better suit your financial needs.

NASA Federal Credit Union

NASA Federal Credit Union is another viable option for mortgage loan products if you prefer a credit union over an online or traditional lender. If you qualify for membership, there are several mortgage options to explore, including fixed and adjustable-rate loans, FHA loans, and VA loans.

And if you’re having trouble finding a loan that works for you, they also offer specialized mortgage programs to help get you into the home of your dreams. You can apply for consideration online, in a branch, or by calling 1-888-627-2328.

Navy Federal Credit Union

Navy Federal Credit Union offers a variety of loan products geared towards service members. Their offerings include conventional fixed-rate loans, adjustable-rate mortgages, VA loans, and FHA loans. You may also be eligible for the following unique loan products, including the Military Choice or 100% Financing HomeBuyers Choice loans. Both are fixed-rate loans with up to 100 percent in financing available and have less stringent qualification criteria.

Interested in a second home or investment property? Navy Federal Credit Union has loan products that can assist you in making those purchases as well.

They have dedicated loan specialists on hand to help you evaluate your financial situation to determine loan products that are the best fit, walk you through the mortgage application, and arrange the closing. Even better, you won’t have to worry about your loan being sold off to another lender as they guarantee to personally service your loan until it’s paid in full. And if you’d prefer to learn as much as you can about what goes into buying a home before reaching out, check out their online knowledge center.

If you’d like to explore the possibility of working with Navy Federal Credit Union to get you into a new home, give them a call at 1-888-842-6328. You can also chat with a representative or apply directly from their website. And should you decide to move forward and work with a RealtyPlus agent in their network, you could receive up to $5,050 cash back when you close on your home.

USAA

USAA gives consumers searching for a home loan the best of both worlds. Not only will you have an array of mortgage options to choose from but you will also have access to some of the lowest rates amongst lenders in the industry.

Home loan options include conventional loans, first-time homebuyer loans, VA loans, Jumbo loans, and adjustable-rate mortgage loans. USAA also has loan products if you’re looking to purchase a second home for vacations or secure an investment property.

They also have a wide selection of educational resources on their website via the learning center to help you understand how the mortgage process works. And you can track the progress of your loan application directly from the online dashboard.

Best of all, you can earn up to $24,000 ($1,230 on average) in cash back through the Real Estate Rewards Network when you close on your new home. This program connects you with a seasoned realtor with a stellar track record to help you find the perfect home. There are over 16,000 realtors in the network, and the program is available nationwide.

Call 1-800-531-0341 to speak with a representative from the mortgage department about loan options that may be a good fit. You can also start the pre-approval process online and receive a quick response so you’ll know how to best move forward.

The Bottom Line

Chances are you probably didn’t have the time of your life when searching for the right lender and submitting all the documentation to get pre-approved. After all, the home search is way more fun. But you’re wallet will thank you for your diligence in the long run.