Top 10 Personal Loan Anyone can Apply for with Low Interest Rates

In today’s guide, I’ll explain the best personal loans available for you to access this month. These loans can be used for various purposes like consolidating debt, covering emergency expenses, or making a large purchase. But first, let’s understand what a personal loan is.

A personal loan is a type of financial assistance that allows you to borrow money. It can help you consolidate high-interest debt, finance important purchases, or handle unexpected expenses. If you have a good credit score and a stable income, finding the right personal loan could save you a significant amount of money, especially if you can secure a low interest rate.

To help you in this process, I’ve provided valuable information on choosing a personal lender and getting approved quickly. This information is available for free, so you can make an informed decision and get the funds you need as soon as possible.

What is the Best Interest Rate on a Personal Loan?

From my experience, I can tell you that shopping around for the best personal loan rate can lead to significant savings. It’s important to compare personal loan offers with the national average trends to determine if you’re getting a competitive interest rate.

The interest rate you’ll be offered depends on your financial credit score. Currently, the average personal loan rate is 9.54%. However, it’s worth noting that this rate can vary from week to week and month to month.

Trust me, when you start comparing loan offers and understanding the average rates, you can make an informed decision and ensure that you’re getting a favorable interest rate for your personal loan. This way, you can save money in the long run.

*Rate as of July, 2023. Note that this rate changes from time to time.

Best Personal Loan Finder

To begin with finding the best personal loan, the first step is to determine the loan amount you need and the purpose of the loan. This will help you narrow down your options and find lenders who offer loans that align with your specific needs.

Next, it’s important to check your credit score range and consider your state’s regulations and requirements. This information will help you understand the estimated annual percentage rates (APRs) that lenders may offer you, as well as the terms and conditions of the loan.

As an individual, taking these initial steps, you can gather the necessary information to make informed decisions and find personal loan options that are suitable for your financial situation. Remember to consider both the loan terms and the interest rates offered by different lenders to ensure you choose the best option for your needs.

What is a Personal Loan?

In simpler terms, a personal loan is a type of borrowing where you can get money from a bank, credit union, or online lender and then pay it back over a specific period of time. It’s different from a credit card or line of credit because it involves borrowing a specific amount of money upfront and repaying it in fixed installments.

Most personal loans are unsecured, which means you don’t need to provide collateral like a car or house to secure the loan. Instead, the lender assesses your creditworthiness, such as your credit score and income, to determine if you qualify for the loan.

Personal loans can be used for various purposes, such as emergencies or to cover expenses like mortgage payments. There are different types of lenders available, including traditional banks with physical branches and online lenders. These lenders cater to borrowers with different credit scores, income levels, and specific requirements.

Read Also:

Pros and Cons of Personal Loans

Pros of Personal Loan

Personal loans offer several advantages for borrowers. Here are a few key benefits:

  1. Quick Funding: In many cases, borrowers can receive funds for personal loans within one business day. However, the exact timeline depends on the lender’s policies and processes.
  2. Debt Consolidation: Personal loans can be a useful tool for consolidating high-interest credit card debt. By taking out a personal loan, borrowers can pay off their credit card balances and consolidate them into a single loan with a lower interest rate. This can help save money on interest and make it easier to manage debt.
  3. Lump Sum Payment: Personal loans are typically delivered as a lump sum payment. This means that borrowers receive the entire loan amount upfront, which they can use for various purposes, such as home improvements, medical expenses, or wedding costs.
  4. Unsecured Loans: Most personal loans are unsecured, meaning that borrowers do not need to provide collateral to secure the loan. This eliminates the risk of losing assets like a car or house if they fail to repay the loan. Instead, lenders evaluate the borrower’s creditworthiness, income, and other factors to determine eligibility and interest rates.

It’s important to note that the terms and conditions of personal loans can vary among lenders. Therefore, it’s advisable to shop around and compare offers to find the best terms and rates for your specific needs.

Cons of Personal Loan

When considering personal loans, it’s important to be aware of certain fees and potential drawbacks. Here are some factors to consider:

  1. Fees: Different lenders may charge various fees, such as origination fees, application fees, or prepayment fees. These fees can vary depending on the lender and the specific loan terms. It’s essential to review the terms and conditions and understand the fees associated with the loan before making a decision.
  2. Higher APR: Compared to certain alternatives like 0% credit cards or home equity loans, personal loans may have a higher Annual Percentage Rate (APR). The APR takes into account the interest rate as well as any applicable fees. The actual APR offered to borrowers will depend on factors such as creditworthiness and the lender’s assessment of risk.
  3. Difficulty for Lower Credit Scores: Obtaining a personal loan can be more challenging for individuals with fair credit or below. Lenders typically consider credit scores as an important factor in determining loan eligibility and interest rates. If you have a lower credit score, you may face higher interest rates or have difficulty securing a personal loan. However, there are lenders who specialize in providing loans to individuals with lower credit scores, albeit at higher interest rates.

Basically, it’s essential to carefully review and compare loan offers from different lenders, taking into account fees, APRs, and eligibility requirements. This will help you make an informed decision and choose the best personal loan option that suits your financial situation and needs.

Who Qualifies to Get a Personal Loan?

1. Anyone can Apply for a Loan

Who is eligible for a personal loan in this country? In general, anyone can apply, but lenders often have minimum requirements. They will assess factors such as your credit score, payment history, income, and debt-to-income ratio.

2. People with Employment of Business

If you have previously been discharged from employment or are currently unemployed, there may be additional considerations. The lender might request documentation indicating your expected return to work, such as a furlough letter or a job offer.

3. Applicants who are above Age 18

Age requirements for personal loans can vary depending on the lender and state or territory laws. Generally, applicants must be 18 years old, but some states may require borrowers to be 19 or 21.


Lastly, if you are applying for a secured loan, the lender will also evaluate the value and quality of the collateral you are providing.

Find the Personal Loan That’s Right for You

Trying to streamline your finances and pay off debtsBest Debt Consolidation Loans
Looking for competitive interest ratesBest Low-Interest Personal Loans
Emergency? Seeking quick approvalBest Emergency Loans for Bad-Credit Borrowers
Choosing a personal loan and have great creditBest Personal Loans for Excellent Credit
Choosing a personal loan and have good creditBest Personal Loans for Good Credit
Comparing fair-credit lendersBest Personal Loans for Fair Credit
Shopping for a loan but have bad creditBest Bad Credit Loans
Hoping to finance a medical procedure/surgeryBest Medical Loans for Financing Medical Expenses
Exploring loans to consolidate credit card debtsBest Personal Loans for Credit Card Refinance
Attending college and need a personal loanBest Personal Loans for Students
Facing a financial hardship and you’re a veteranBest Personal Loans for Veterans
Focusing your search on online lendersBest Online Loans
Researching options for less-than-perfect creditBest Instalmental payment Loans
If you are Considering alternatives to traditional financial institutionsBest Peer-to-Peer Lending

Make a Decision: Should You Get a Personal Loan?

Personal loans may not be suitable for everyone, but they can be a good choice in certain situations. If you have an unexpected expense or need to make a big purchase, a personal loan could be a helpful option. It can also be useful for consolidating high-interest debts.

However, there are times when a personal loan may not be the most appropriate solution. For instance, if you’re planning home improvements, you might want to consider a home equity loan, which allows you to use your home as collateral.

Additionally, for special expenses like weddings or vacations, it’s generally better to save up and pay in cash rather than taking out a personal loan to cover the costs.

How to Choose the Best Personal Loan Lender for You

Selecting the right personal loan lender is important as it can greatly impact your borrowing experience. There are several factors to carefully consider when choosing the best personal loan lender for your needs.

1. What loan amounts does the lender offer?

Before applying for a personal loan, it’s important to be aware of the minimum and maximum loan amounts offered by the lender. If a lender has a maximum loan limit of $25,000, for example, it would be a waste of time to apply if you need to borrow more than that.

It’s a great idea to take note of these limits to save yourself from unnecessary effort and ensure you are applying to lenders who can accommodate your borrowing needs.

2. What terms can I expect?

When considering a personal loan, it’s essential to carefully review the terms and conditions set by the lender. This includes paying attention to the interest rate offered, as you’ll want to secure the best rate possible. Additionally, you should consider the repayment length of the loan and ensure that it aligns with your financial capabilities.

Calculate your monthly payment based on these factors to ensure it fits comfortably within your budget and that you’ll be able to manage it without difficulty.

3. What fees does the lender charge?

It’s important to be aware of the various fees associated with personal loans. One common fee is the origination fee, which is a percentage of the loan amount charged by the lender. This fee can range from 1% to 10% of the loan amount. Additionally, some lenders may also charge an annual fee.

These fees can significantly impact the total amount you receive from the loan. Therefore, it’s crucial to carefully review and take note of any fees that the lender may charge, ensuring that you have a clear understanding of the overall cost and how it may affect your payout.

4. How is the lender’s customer service?

When considering a loan company, it’s a good idea to check online reviews to get insights into how they have treated their previous customers. This can give you a better understanding of the experiences people have had with the company.

You can visit websites such as the Better Business Bureau, Trustpilot, or the Consumer Financial Protection Bureau to find reviews and ratings. Additionally, you can also reach out to your family and friends to see if they have any personal experiences or recommendations regarding the lender. Gathering this information will help you make a more informed decision about which loan company to choose.

Helpful Guides

How to Apply for a Personal Loan

You can follow these steps to apply for a personal loan in USA, UK, Canada, Nigeria, South Africa:

1. Make sure you get pre-approved rates

When requesting rate quotes from lenders, it’s important to ensure that they will use a soft credit inquiry, which does not impact your credit score. To request a rate quote, you will need to provide personal information such as your address and income.

On the lender’s secure website, you may be asked to provide your Social Security number (SSN) or BVN (Bank Verification Number) for identification purposes. It’s crucial to use only the official lender’s website to protect your personal information from falling into the wrong hands.

In the loan application form, you will indicate the amount you wish to borrow, the reason for borrowing, and your preferred repayment term length. Providing accurate and complete information in your application will help the lender process your request more effectively.

Once you have provided all the necessary personal details, the financial institution will promptly inform you of the interest rates and terms applicable to your loan. They will guide you on how to formally apply for the loan based on the information you have provided.

Typically, they will provide you with instructions on how to complete the loan application process, which may involve filling out additional forms and submitting any required documentation. They may also provide you with further details on the loan agreement, including the repayment schedule and any applicable fees.

2. Always Compare offers

It’s a wise idea to invest some time in conducting online research to explore different lenders and find the best personal loan interest rate. Here’s what you can do:

  1. Start by searching for reputable lenders: Use search engines or visit financial websites that provide comparisons and reviews of lenders. Look for lenders that have a positive reputation and good customer feedback.
  2. Compare interest rates: Visit the websites of different lenders and check their current interest rates for personal loans. Take note of the rates offered by each lender and compare them to find the most competitive one.
  3. Consider loan terms and conditions: In addition to interest rates, pay attention to the loan terms and conditions offered by different lenders. Look for factors such as repayment periods, flexibility in payment options, and any additional fees or charges.
  4. Check eligibility requirements: Review the eligibility criteria of each lender to ensure that you meet their requirements. This can include factors like credit score, income level, employment history, and other specific criteria they may have.
  5. Read customer reviews and ratings: Look for customer reviews and ratings of the lenders you are considering. This can provide insights into the experiences of other borrowers and help you gauge the quality of service provided by each lender.
  6. Seek recommendations: Ask for recommendations from friends, family, or trusted individuals who may have had positive experiences with specific lenders. Their firsthand experiences can provide valuable insights and help you make an informed decision.

Conducting thorough research and comparing different lenders, you can increase your chances of finding a reputable lender with competitive interest rates for your personal loan. Remember to carefully review the terms and conditions of any loan offers before making a final decision.

3. Carefully Choose your top one or two lenders

Once you have followed the necessary steps and chosen a lender, you can proceed to formally complete your loan application. At this stage, the lender will initiate a hard credit inquiry, which will be recorded on your credit report.

For me, I know is important to understand that even after this step, there is no guarantee of loan approval or a specific interest rate, even if you have a good credit history. Lenders consider various factors when making their decision, and approval is not guaranteed.

4. Where Is the Best Place to Get a Personal Loan?

Personal loans are available from:

  1. Brick-and-mortar banks.
  2. Credit unions.
  3. Online lenders.
  4. P2P lenders.

Banks or credit unions can provide a personalized experience, especially if there is a branch nearby. On the other hand, online lenders offer convenience for those who prefer to apply for, manage, and close personal loans online.

Additionally, online peer-to-peer lending platforms allow users to borrow money from individual investors instead of traditional banks. These platforms often have more flexible credit requirements, making them a viable option for individuals who may not qualify for a loan from a traditional bank.

Now, to get a sense of the loan offers available to you, you can prequalify by providing basic information to the lender, allowing them to perform a soft credit check. This won’t impact your credit score.

Once you’ve gathered loan terms, amounts, fees, interest rates, and other details from multiple lenders and compared them, you can proceed to formally apply for a loan.

This step involves a hard credit check, which may affect your credit score temporarily. If your application is approved, you can receive the funds quickly from an online lender, sometimes as soon as the following business day.

It’s beneficial to seek pre-approvals from different lenders so you can compare rates, terms, and other factors for various types of personal loans. This allows you to make an informed decision and choose the best option for your needs.

What Are the Best Personal Loan Companies?

When searching for the best personal loan, it’s important to consider factors such as low interest rates, favorable loan terms, and flexible payment options. Since each lender has its own terms and conditions, it’s essential to know your requirements and preferences before starting your comparison.

To find the best personal loan, Jared Kaplan, former CEO of OppFi, recommends doing research, shopping around among multiple lenders, carefully reading the fine print, and selecting a loan that you can comfortably afford to repay.

A good starting point is to ensure that the lender is licensed in your state and authorized to offer personal loans there. Once you have verified this, you can compare other key factors to help you make the right choice.

Tops Guides of the Week

Top 10 loan lenders in United States

Here is a list of some well-known and reputable lenders in the United States based on their market presence and customer satisfaction:

  1. JPMorgan Chase
  2. Bank of America
  3. Wells Fargo
  4. Citigroup
  5. U.S. Bank
  6. Truist Financial Corporation (formerly BB&T and SunTrust)
  7. PNC Financial Services Group
  8. TD Bank
  9. Capital One
  10. Discover Financial Services

Top 10 loan lenders in United Kingdom

Here is a list of some well-known and reputable loan lenders in the London UK:

  1. Lloyds Bank
  2. Barclays
  3. Santander UK
  4. HSBC UK
  5. NatWest
  6. Nationwide Building Society
  7. TSB Bank
  8. Metro Bank
  9. Virgin Money
  10. Co-operative Bank

Top 10 loan lenders in Canada

This is a list of some well-known and reputable loan lenders in Canada:

  1. Royal Bank of Canada (RBC)
  2. Toronto-Dominion Bank (TD Bank)
  3. Scotiabank
  4. Bank of Montreal (BMO)
  5. CIBC (Canadian Imperial Bank of Commerce)
  6. National Bank of Canada
  7. Desjardins Group
  8. HSBC Bank Canada
  9. Laurentian Bank of Canada
  10. Canadian Western Bank

Top 10 loan lenders in South Africa

See a list of some well-known and reputable loan lenders in South Africa:

  1. Standard Bank
  2. Absa Bank
  3. Nedbank
  4. First National Bank (FNB)
  5. Capitec Bank
  6. African Bank
  7. Investec Bank
  8. Sasfin Bank
  9. TymeBank
  10. Bayport Financial Services

Top 10 loan lenders in Nigeria

Here are a few popular loan lenders in Nigeria:

  1. Access Bank
  2. First Bank of Nigeria
  3. Zenith Bank
  4. Guaranty Trust Bank (GTBank)
  5. United Bank for Africa (UBA)
  6. Stanbic IBTC Bank
  7. Sterling Bank
  8. Fidelity Bank
  9. Union Bank of Nigeria
  10. Polaris Bank

Top 10 loan lenders in Ghana

Here are some prominent and well-known loan lenders in Ghana:

  1. Fidelity Bank Ghana
  2. Ecobank Ghana
  3. Stanbic Bank Ghana
  4. Ghana Commercial Bank
  5. CAL Bank Ghana
  6. Universal Merchant Bank (UMB)
  7. Absa Bank Ghana
  8. Standard Chartered Bank Ghana
  9. Zenith Bank Ghana
  10. Agricultural Development Bank (ADB)

Loan Terms and Conditions

Keep in mind that each loan lender company sets its own terms, such as:

1. Minimum and maximum loan amounts

Every lender has a minimum and maximum loan amount. For instance, if you’re looking for a small personal loan below $2,000, you’ll need to find a lender that offers loans at that specific amount.

2. Minimum and maximum term lengths

Lenders also have minimum and maximum term lengths, which vary among different lenders. Typically, borrowers have around 60 months to repay their personal loans, but some lenders offer longer term lengths of up to 144 months. Choosing a longer loan period will result in lower monthly payments but may lead to paying more in interest. If you can afford a higher monthly payment, opting for a shorter loan period can help you save on interest.

3. Loan Use Restrictions

Some lenders may have restrictions on how you can use the loan funds. These restrictions vary by lender, so it’s important to be honest about your intended use of the money. Providing false information on your loan application can be considered loan fraud and may result in additional charges.

4. Disbursement Times:

Most lenders have their own timelines for disbursing personal loan funds. Some lenders offer quick funding, with funds available as soon as the next business day after approval. In general, funds are typically distributed within a few business days, and most lenders provide electronic disbursement methods.

Lender Loan Fees and Penalties Charges

Comparing fees is very important when selecting the best personal loan. These fees can have a significant impact on the overall cost of the loan.

  • Origination Fees: Lenders often charge origination fees to cover the loan processing costs. However, not all lenders have these fees, so it’s important to check. Typically, origination fees range from 1% to 8% of the loan amount.
  • Late Fees: It’s essential to make timely loan payments to avoid late fees. While some lenders, such as Marcus by Goldman Sachs and SoFi, waive late fees, you may still accrue interest if you pay late.
  • Returned Payment Fees: If you don’t have sufficient funds in your account, lenders may charge a minimal fee for returned payments.
  • Prepayment Penalties: Although uncommon, some lenders may impose prepayment penalties if you repay your loan earlier than the agreed-upon schedule. It’s important to be aware of these potential penalties before choosing a lender.

Repayment Options

Different lenders provide various options, so it’s important to find a lender that offers the payment options that suit you best.

Flexible Payment Options: Many lenders provide flexibility in payment methods, including autopay, check by mail, or online payments. This allows you to choose the payment method that is most convenient for you.

Autopay Discount: Some lenders, like Upgrade and U.S. Bank, offer an autopay discount. If you enroll in autopay, you may be eligible for a reduced interest rate, which can save you money over the life of the loan.

Make sure to review the payment options and any potential discounts offered by different lenders to find the one that aligns with your preferences and can potentially save you money.

Researching Personal Loan Companies

Before proceeding with a lender, it’s crucial to read reviews of personal loans to get an idea of what to expect or to identify lenders to avoid.

Jared Kaplan suggests conducting research on the Better Business Bureau website to look for any negative feedback or complaints regarding lenders.

Another resource for researching lenders is the Consumer Financial Protection Bureau’s Consumer Complaint Database. This database can provide valuable insights into the experiences of other consumers with different lenders.

Additional Lender Offers

Some lenders provide loans with additional features that cater to specific borrowers.

For instance, Discover offers the option to return personal loan funds within 30 days without any interest or fees, providing flexibility in case you change your mind after finalizing the loan. On the other hand, SoFi offers an unemployment protection program, which allows borrowers to temporarily pause their loan payments and receive personalized assistance in finding a new job if they experience involuntary unemployment.

These added features can make these lenders more suitable for individuals who value such benefits and seek additional support during unexpected situations.

What is the Best Personal Loan Rate?

In general, personal loan interest rates can vary from 6% to 36%, depending on factors like your creditworthiness. The better your credit score, the more favorable your interest rate is likely to be. If you’re interested, we have detailed information on the Best Low Interest Rate Credit Cards for 6 to 24 months that you can review before proceeding.

Having a higher credit score also opens up more options for personal loans with favorable terms and conditions. Financial institutions prefer working with individuals who have good or excellent credit scores, as they are more likely to offer better loan terms to these borrowers. According to Joseph A. Carbone Jr., a certified financial planner, you typically need a credit score of 680 to 700 or higher to qualify for a personal loan. If your credit score falls between 620 and 680, you might need a co-signer to secure the loan.

However, it’s important to note that your credit score is not the only factor lenders consider when deciding whether to approve your loan application or determining the interest rate. They will also assess your employment status, minimum annual income, income stability, savings, and other relevant factors to gauge your ability to repay the loan. Your responses to these inquiries can ultimately impact your eligibility for the loan.

Don’t Miss this Recommendations

Ways to Use Personal Loans

Personal loans for medical bill or expenses:

When it comes to emergency situations involving life-saving medical bills for yourself or a family member, the importance cannot be overstated. If you find yourself in a situation where you’re struggling to gather the necessary funds, applying for a personal loan could be a viable option to consider.

Personal loans for debt consolidation:

This is a specific type of personal loan that can be beneficial is debt consolidation loan. With this type of loan, borrowers have the opportunity to merge high-interest debts, such as credit card balances, medical bills, or other loans, into a single loan with a lower interest rate. This means they only have to make one monthly payment, simplifying the repayment process.

Personal loans for pet expenses:

This type of loan is for individuals who do not have pet insurance and are confronted with a significant emergency veterinary bill, a pet loan can be a viable option. Secondly, this type of loan is specifically designed to provide financial assistance for major expenses related to veterinary care, such as surgeries or cancer treatments for pets.

However, it is important to note that responsible pet ownership includes being able to afford the necessary care for your pet. If you are unable to provide proper care and cover unexpected expenses, it is advisable to reconsider owning a pet.

Personal Loan Alternatives

Considering alternatives to obtaining a personal loan is important. Before committing to a personal loan, it’s important to explore other options for obtaining the funds you need.

Making a payment arrangement with the medical provider is a recommended solution to address unpaid medical expenses and avoid the need for a personal loan.

It is important to explore other types of loans, such as a home equity loan or an auto loan, if they align better with your specific needs and offer more favorable terms.

If you qualify, using a credit card with a lower interest rate may be a viable option for certain expenses. Additionally, borrowing from a family member who is willing and able to provide financial assistance could be an alternative to consider, although it’s important to carefully consider the implications and ensure timely repayment.

For further understanding, let me simplify this explanation

Make a payment arrangement

It’s important to understand that unpaid medical expenses can have a negative impact on your credit score. Before considering a personal loan, I would recommend trying to work out a payment arrangement with the medical provider.

This means reaching out to them and discussing a plan to repay the expenses over time. By doing this, you may be able to avoid taking on additional debt and find a more manageable solution for covering the medical costs.

Look at other types of loans

When it comes to financing home repairs, you may want to consider a home equity loan or a home equity line of credit. These options allow you to use the equity you have built up in your home as collateral for the loan. This can often result in lower interest rates compared to a personal loan.

If you’re planning to buy a car and can afford to make the payments in a few months, an auto loan might be a more suitable choice. Auto loans are specifically designed for purchasing new or used cars. Just like with home equity loans, it’s important to compare different types of loans and their terms to ensure you’re getting the best interest rate available to you.

You can Consider using a credit card

If you’re a credit cardholder who meets the qualifications, using a credit card to cover your expenses or purchases could be a viable option. Before considering a personal loan, it’s worth exploring whether your credit card can serve as a convenient and cost-effective solution.

Even if you can’t pay off the full balance right away, using a credit card may offer certain advantages. For instance, the interest rate on your credit card might be lower compared to the interest rate on a personal loan. This can potentially save you money in the long run.

However, it’s important to note that credit cards often come with high-interest rates, especially if you carry a balance over an extended period. It’s crucial to have a repayment plan in place to avoid accumulating excessive interest charges. Evaluating your financial situation and considering the terms and interest rates of both credit cards and personal loans will help you make an informed decision about the most suitable option for your specific needs.

Borrow from a family member who can give you

Asking for financial assistance from friends or family members can indeed be a sensitive matter, but it can also be a viable alternative to taking out a personal loan. If someone close to you is in a position to lend you money and is willing to help, it could have certain advantages over a traditional loan from a financial institution.

One significant benefit of borrowing from friends or family is that they might not charge interest or apply strict repayment terms, making it a more flexible and potentially cost-effective option. Additionally, the process may be more straightforward and less time-consuming compared to dealing with a formal loan application.

Personal Loans From Search Terms

  • personal loans in nigeria
  • personal loan with bad credit
  • personal loan calculator
  • small personal loans
  • best personal loan
  • personal loans online
  • apply for a personal loan
  • personal loan rates

Guide to Personal Loans Methodology

At, we determine the Best Loan Companies by carefully assessing affordability, borrower eligibility criteria, and customer service. Our evaluation process involves analyzing data on the lender and their loan offerings, with a focus on factors that are most important to borrowers. We consider customer service ratings, interest rates, maximum loan term, minimum and maximum loan amounts, minimum FICO score, online features, and origination fees. Each scoring factor is weighted based on a nationwide survey that identifies what borrowers value in a lender.

To be rated, lenders must offer qualifying loans across the country and have a positive reputation in the industry. For more information and updates, we recommend referring to the related guides below.

Similar Guides

- Advertisement -

Related Stories