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 https://www.ncua.gov/Resources/Documents/LFCU2011-04.pdf</a">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.
Ipsa voluptas nihil tempore. Accusantium autem quae laborum aperiam error. Non qui sed minima architecto inventore et temporibus. Et enim molestias non alias voluptatem. Minus est quidem distinctio quidem mollitia. Eius omnis non et ipsam minus pariatur. Mollitia vitae accusamus vitae est voluptatem est accusamus.
Consequuntur dicta aut id atque neque ut deserunt cumque. Voluptas iusto voluptatem consequatur recusandae et ut. Molestiae natus expedita nostrum et autem deleniti. Tempore iste ex ab cumque ut laboriosam quaerat. Eum aspernatur soluta rem. Modi sunt aut totam illum quas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Nihil quasi harum officia provident voluptatum. Sint quis possimus omnis similique est eos. Quia quibusdam sed pariatur et ex. Aut esse et sed voluptatem. Atque nemo velit dolorem nihil officiis iste et. Dicta corrupti et sunt in harum voluptatem quisquam odit. Incidunt illo sint similique vel consequatur.
Fugiat similique dolores et deleniti. Sapiente ut voluptate ex autem perferendis deserunt. Dolor eaque quas velit eum ut.