Best source for a personal loan?
WSO, need your advice: due to health reasons I need a short term loan in the $3k-$5k range, what is the best source?
Planning to research prosper.com and other similar lending sites this evening, also plan on applying for a loan via my credit union.
-Family/friends not an option
-Mom will co-sign (she has perfect credit), my FICO is about ~650 (89% debt to available credit ratio, bad I know)
-I need the money within 2 weeks if possible
-Credit card only an option if they accept co-signers
-Money is for living and moving expenses
-Would prefer a payment term of 24-36 months
Really appreciate your ideas.
-MM
ps if the honorable @thebrofessor" were to chime in, it would make my day
pss lendingclub sent me a promo in the mail and just out of curiosity I asked for $7k and the apr they offered me made me laugh/cringe/cry, something like 36%! yikes
Credit union, all the way. If it hasn't changed, the highest they can usually charge is 18%.
Used to work at a credit union a while ago.
thanks for the input. if you have the time i have a few questions about credit union loans: -fine to apply online or should I speak to someone in person? -any tips I should know when applying? any info to make sure to include, or to not disclose? -dumb question maybe but do they prefer shorter or longer loan terms? -what is the typical turnaround time on a loan from a credit union? -i had a car loan with this credit union in the past and paid it off perfectly. i didnt see a place on their online application to mention this but I assume it will show up to them on my credit history? or should I go out of my way to make sure they are aware of this?
I agree completely. I was in a similar situation to OP a number of years ago and got great rate and terms from a credit union.
Goldman Sachs might be a good option. Try marcus.com
thought you were joking at first but marcus.com looks really interesting, will give it a try, thanks
Yeah sorry I could have given a bit more explanation there. Goldman bought up General Electric's bank and basically has a consumer division now. Their stuff is pretty competitive because they're trying to build it up and keep costs low by being online only.
I'll give you a loan - PM me.
i'll pay you 15% apr, have a co-signer, 24 months, incredible credit history except for my current debt to available credit ratio, let's do it
Lending club?
"lendingclub sent me a promo in the mail and just out of curiosity I asked for $7k and the apr they offered me made me laugh/cringe/cry, something like 36%"
LightStream
SoFi does personal loans now for what looks like some pretty low interest rates. I refinanced my student loans with them and have nothing but a positive experience with them.
I've heard good things about SoFi as well. Looking into using them to pay off the wife's student loans with a lower rate loan.
Sofi caters to the HENRYs and or high fico borrowers. Op has a 650, which near prime/non prime levels..most likely stick to a credit union or guys like OneMain.
Yep. 650 FICO will never get you prime rates on anything for sure.
Upstart- I see ads for them all the time
what health reason forces you to pay $5K out of pocket? I'm just wondering
Get a loan from your 401k, you pay yourself interest.
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