loan companies that use experian

We have researched the top Loan Companies That Use Experian. This is why we are sharing this post on mortgage lenders that use experian only. Suppose you want auto lenders that use experian only, then reading this post will help.

A personal loan can be a quick, easy and convenient way to borrow money. Many of the top personal loan lenders offer unsecured personal loans with fixed interest rates, so you won’t have to provide collateral and you’ll know exactly how much your monthly payments will be for the life of the loan. You can also usually get the funds within a couple of days and use the money for almost anything.

A loan’s rates, fees and terms can vary depending on your creditworthiness and the lender. However, many people find a personal loan is a good option when they’re making a large purchase or need money for home improvements. Because they may offer lower annual percentage rates (APRs) than other funding options, people also commonly use personal loans to refinance or consolidate debts. Finding the best personal loan for your specific purposes can require comparison shopping. To help narrow down your list, here are seven top online personal loan lenders and a brief description of how they’re different and why they might be a good fit for you.

mortgage lenders that use experian only

Loan Companies That Use Experian

Avant

Personal Loan (Generic) - 24 months

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on Avant’s websiteRecommended FICO® Score*Fair – Very Good

Est. APR9.95 – 35.99%

Term24

Amount

Available loan amounts:$2,000 to $35,000

Est. monthly payment:$91 to $2,048

Grace period:10 days

Application fee:$0

Loan Details
  • Personal loans from $2,000 to $35,0001 entirely online
  • Checking your loan options will not affect your credit score
  • Funding as soon as next business day2
  • No collateral needed and customer support available 7 days a week

Disclosure

Avant personal loans could be a good option if you have fair to good credit. The upfront administration fee of up to 4.75% and a minimum APR slightly higher than other similar offerings means it likely won’t be a top pick if you have excellent credit. But the ability to get a secured loan online quickly can be a big plus for those who need a quick cash infusion, and the secured loans have a lower administration fee (2.5%).

LendingPoint

Personal Loan (Generic) - 24 months

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on LendingPoint’s websiteRecommended FICO® Score*Fair – Good

Est. APR15.49 – 35.99%

Term24

Amount

Available loan amounts:$2,000 to $25,000

Est. monthly payment:$97 to $1,463

Grace period:0 days

Application fee:$0

Loan Details
  • Personal loans from $2,000 to $25,000
  • Rates from 15.49% to 35.99% APR with no prepayment penalties
  • Check your rate for free without impacting your credit score
  • Qualified customers receive offers in three simple steps, and funds in as little as 24 hours if approved
  • Simple and Secure – quick online application
  • LendingPoint’s customer success representatives are available online or by phone 24/7, just call 888-969-0959
  • Terms from 24 – 48 months

Disclosure

A potential top option for borrowers with fair credit, LendingPoint offers fast funding but also has a high minimum APR. The origination fee can range from 0% to 6% and will depend on factors including your creditworthiness and the loan amount; the fee will be deducted from your loan disbursement. While LendingPoint isn’t the best option for everyone—particularly those with high credit scores who likely can find lower rates elsewhere—it’s worth checking to see if you can get prequalified (which will not affect your credit) and reviewing your loan offers.

Payoff

Personal Loan - 24 months

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on Payoff’s websiteRecommended FICO® Score*Good – Exceptional

Est. APR8 – 25%

Term24

Amount

Available loan amounts:$5,000 to $40,000

Est. monthly payment:$219 to $2,075

Grace period:10 days

Application fee:$0

Loan Details
  • 8% – 25% APR
  • Pay off high-interest credit card balances and save
  • Quickly check your rate without affecting your credit score
  • No prepayment, late, or check-processing fees
  • Members see an average FICO® Score boost of 40 points when paying down credit card balances1

Disclosure

If you want to use a personal loan to consolidate credit card debt, then Payoff might be a great option. Payoff focuses specifically on helping people pay off credit card debt. In fact, your maximum loan amount might be your current card balances. There are also minimal fees: The only one is an origination fee, which can range from 0% to 5%. If approved, you’ll be able to choose from a two- to five-year repayment term.

Prosper

Personal Loan (Generic) - 36 months, 670-850

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on Prosper’s websiteRecommended FICO® Score*Good – Exceptional

Est. APR7.95 – 35.99%

Term36

Amount

Available loan amounts:$2,000 to $40,000

Est. monthly payment:$61 to $1,720

Grace period:0 days

Application fee:$0

Loan Details
  • 640 minimum FICO® Score
  • More than $16 billion loans funded
  • Consolidate debt, finance a home improvement project, or pay off medical expenses
  • 9 out of 10 customers would recommend Prosper to friends or family**
  • Co-borrower option available. Applying with a co-borrower could help improve your rates.
  • Get your money in as few as 3 days – your monthly payment stays the same

Disclosure

Unlike online personal loan companies that directly fund their loans, Prosper is a peer-to-peer marketplace that connects lenders and borrowers. Your application process will be similar to that of other lenders, but receiving your loan may take slightly longer. Still, it can be a good choice if you want long repayment terms. Loans through Prosper will have an origination fee, which can range from 2.41% to 5%.

SoFi

Personal Loan - 24 months

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on SoFi’s websiteRecommended FICO® Score*Good – Exceptional

Est. APR5.99 – 20.23%

Term24

Amount

Available loan amounts:$5,000 to $100,000

Est. monthly payment:$219 to $4,944

Grace period:10 days

Application fee:$0

Loan Details
  • Personal Loans with low fixed rates
  • Borrow up to $100,000
  • No Origination Fees, No Prepayment Penalties, and No Late or Overdraft Fees
  • Simple online application with live support 7 days a week
  • Apply Now

Disclosure

For borrowers with good to excellent credit, SoFi is a top lender to consider due to its low rates and fees. It offers personal loans of up to $100,000—a higher limit than many competitors—and doesn’t charge any application or origination fees. The interest rate range also starts low compared with other lenders, and borrowers may qualify for additional benefits, such as free meetings with a financial planner or career coach.

Upgrade

Personal Loan (Generic) - 36 months, 600-850

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on Upgrade’s websiteRecommended FICO® Score*Fair – Exceptional

Est. APR6.94 – 35.97%

Term36

Amount

Available loan amounts:$1,000 to $50,000

Est. monthly payment:$30 to $2,095

Grace period:15 days

Application fee:$0

Loan Details
  • Affordable loans from $1,000 – $50,000 with low fixed rates that will never change, affordable monthly payments, and no prepayment penalties
  • Quick online application — get pre-approved in just minutes
  • Checking your rate won’t impact your credit score
  • Review multiple loan options so you can pick the amount and term that fits your budget and timeline
  • With automatic payments and a customizable due date, managing your account is easy and you’ll be able to circle the date on your calendar when you’ll be debt free

Disclosure

Upgrade’s personal loan offering stands out due to its wide range for rates, loan amounts and origination fee, which can be 2.9% to 8%. It also allows you to apply with a cosigner. However, there are only two repayment terms to choose from—three or five years.

Upstart

Upstart is a lending platform that focuses on borrowers with less-than-excellent credit, and stands apart from other lenders with its unique underwriting process. When reviewing your application, Upstart considers traditional factors, such as your credit, income and debts as well as alternative data, like whether you graduated college, your major and your grade-point average. As a result, applicants with fair to good credit may get approved for larger loans or lower interest rates with Upstart than other lenders. Upstart’s origination fee ranges from 0% to 8%.

auto lenders that use experian only

How to Choose a Personal Loan Lender

Before you apply for a personal loan, you may want to review lenders’ requirements and loan offers. Here are some of the things you’ll want to consider:

  • Your loan use: While you can use a personal loan for almost anything, there may be some restrictions. For example, rules may vary on whether you can use the funds for business, educational or investment purposes.
  • Your credit: Lenders may have a minimum credit score requirement. You can get a free FICO® Score  from Experian to see where you currently stand.
  • Minimum and maximum loan amounts: Your creditworthiness may determine the loan size you’re offered, but you’ll also want to make sure the lender’s maximum loan amount is high enough for your needs. While you can generally repay part or all of the loan early without a penalty, minimum amounts may be important if the lender charges an origination fee. You may also find the minimum loan amount in your state is higher than the lenders’ general minimums.
  • Residency requirements: While you won’t need to visit a bank branch to get a personal loan from an online lender, lenders might not be approved to offer loans in every state. You don’t have any control over this, but it’s worth keeping in mind that your options may vary depending on where you live.
  • Origination or administrative fee: Unless you have good to excellent credit, many personal loans will require an upfront origination or administrative fee. The fee is often taken out of the loan amount, which you’ll want to consider when you’re determined how much to borrow.
  • Repayment terms: The repayment term can also impact your monthly payment and interest rate. If you want to get a low rate and pay off the debt quickly, look for a lender that offers short repayment terms. However, if you’d prefer a lower monthly payment, a longer repayment term may be a better fit.
  • APR ranges: Many lenders will advertise an APR range. You won’t know which rate you’ll receive until you get prequalified or receive a loan offer. However, the range could help you determine whether the lender focuses on borrowers with excellent, good or poor credit (a lower minimum APR may correlate with higher credit requirements).
  • Time to funding: If you need money ASAP, some lenders can transfer the funds into your bank account within one or two business days of processing your application. Make sure you have identification and verification documents, such as recent pay stubs or tax forms, ready to prevent delays.
  • A cosigner option: If you can’t qualify for a personal loan on your own, some companies allow you to add a cosigner to your application. A creditworthy cosigner could help you get approved and qualify you for a better offer, but the cosigner’s credit will also be on the line.

After narrowing down your lender options, you can often start with a prequalification application online. Getting prequalified doesn’t guarantee you’ll be approved, especially if there’s a big change in your creditworthiness before you apply, but it can still be helpful.

Prequalification usually requires a soft inquiry—which won’t hurt your credit—and can help show you possible loan offers. If you’re prequalified, you can then decide to submit an application, which may require a hard inquiry that can hurt your credit a little. If you don’t get prequalified, you can rule out the lender without submitting an application or potentially hurting your credit.

You can also use a service, such as Experian’s CreditMatch™, to compare lenders. Once you’re signed in, you can even submit a single loan prequalification application to quickly get prequalified offers from multiple Experian personal loan partners.

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