FreedomPlus Personal Loans

FreedomPlus Personal Loans Review

FreedomPlus Personal Loans is offered by Freedom Financial Network, a financial services company founded in 2002 and based in San Mateo, CA. FreedomPlus Personal Loans is available in 36 states (and Washington, DC).

• APRs starting at 7.99%. These are average starting rates for a personal loan. If you have good credit you may qualify for a loan with better rates.
• Fast access to funds. In some cases you can get your money within 1 business day.
• Origination fees of up to 5%. This is average for lenders that charge origination fees. However, plenty of lenders don't charge them. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
• Cosigner applications accepted. Applying for FreedomPlus Personal Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
• Short loan terms. FreedomPlus Personal Loans offers loan terms as short as 6 months. Most personal loans have a minimum term of 12 to 36 months.
• Minimum income of $40,000. You will need an annual income of at least $40,000 to apply for FreedomPlus Personal Loans, which is above average for the lenders in our database.

What interest rates and personal loan terms does FreedomPlus personal loan offer?

FreedomPlus personal loan has lower than average interest rates for lenders reviewed on SuperMoney.

What fees does FreedomPlus personal loan charge?

What do you need to qualify for FreedomPlus Personal Loans?

To qualify for personal loans with FreedomPlus Personal Loans, applicants need a minimum annual income of $40,000 or higher. FreedomPlus Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via FreedomPlus Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by FreedomPlus Personal Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Proof of income
• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for a personal loan via FreedomPlus personal loan?

FreedomPlus personal loan will typically approve (or deny) a loan application within 48 hours and fund loans within 7 business days of approval.

Does FreedomPlus Personal Loans report your account activity to credit bureaus?

Yes, FreedomPlus Personal Loans reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.