Choosing the Best Personal Loan
Choosing the best personal loan for your specific needs can be a confusing task, especially with so many lenders out there. But with a little research and knowledge, you can choose a personal loan that fits your budget and meets your needs.
BHG Money
Whether you’re a first-time homebuyer, looking to consolidate debt, or just want to do something fun with your newfound cash, a personal loan from BHG Money is an excellent option. They have a range of terms and rates to choose from, and the customer service is top-notch.
The best part about BHG Money is that you can apply online for a loan of up to $200,000. Previously, BHG Money only offered loans to medical professionals, but now they cater to a wide range of applicants, from lawyers and accountants to teachers and home inspectors. In fact, they have funded more than $10 billion for 700,000 borrowers over the last 21 years.
SoFi
Taking out a SoFi personal loan is a good way to pay off credit card debt and to cover large expenses. But you need to make sure that you qualify for a loan before you make a decision. The minimum credit score required to apply for a SoFi personal loan is 680.
SoFi is a peer-to-peer lender that provides a wide range of financial services. SoFi offers personal loans, credit cards, and student loans. Its goal is to help borrowers build wealth. In return, SoFi provides a variety of benefits.
SoFi offers personal loans with competitive interest rates. They allow you to pay off the loan early, and they do not charge prepayment penalties. They also do not charge late fees or origination fees. However, you should shop around for the best rate.
Upgrade
Using a personal loan is a good way to pay off high-interest debts and make home improvements. Some personal loans also help you consolidate your debt.
Upgrade is a lender that specializes in unsecured personal loans. It has a wide variety of loan amounts and terms. The site has a calculator to help you estimate your monthly payment. You can choose a loan term ranging from 24 to 84 months.
Upgrade does a soft credit check before issuing you a loan. This is the same type of check that other lenders will do. However, it won’t have the same effect on your credit score.
Upgrade also offers credit cards, auto loans, and a rewards checking account. It also provides free credit monitoring services.
LendingClub
Using the best personal loan is important for people who are interested in funding a variety of personal expenses. Whether you are looking for a loan to make a home improvement project, or to consolidate debt, there are plenty of options out there.
LendingClub is a peer to peer lending platform that offers a range of loans. Depending on your needs, you can get a loan from $1k to $40k. You will be required to provide some basic personal information. The company will also check your credit and income.
They offer loans with 36 and 60 months repayment periods. The company also offers a hardship plan, which helps you get a better financial position.
NetCredit
Besides being a lender, NetCredit is also a financial education website and financial resource for consumers. NetCredit helps customers understand their financial situation and helps them make the most of it.
NetCredit offers several loan types, including fixed-rate personal loans, line of credit, and cash advance loans. You can apply for a NetCredit personal loan online, and it can be approved the same day. However, its rates and APRs can be high compared to other lenders.
Unlike many other personal loan lenders, NetCredit doesn’t charge application or origination fees. However, you may be charged a late fee if you miss a payment. The late payment fee is usually $15 or 5% of the remaining balance. In most cases, late payment fees are only charged after a specified grace period.
Wells Fargo
Whether you need a personal loan for a home renovation, paying off high-interest credit card debt, or you’re planning a big trip, Wells Fargo offers competitive rates and quick approval. You can apply for a loan online or in person. The website also includes a loan calculator that will give you an estimate of how much you’ll pay.
To apply for a Wells Fargo personal loan, you’ll need some basic information. You’ll also need to provide proof of income and employment. You may also need to provide a driver’s license or a social security card to verify your address.
Wells Fargo offers personal loans in all 50 states. Their loans range from $3,000 to $100,000. Unlike most banks, Wells Fargo does not charge an origination fee. They also offer competitive APRs and repayment terms.
