in Personal Loans from LendingPoint
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Where does LendingPoint do business?
LendingPoint is a direct lender based in Kennesaw, GA. Founded in 2014, LendingPoint offers access to personal loans in 40 states (and Washington, DC).
What rates and terms does LendingPoint offer?LendingPoint has higher interest rates than the average for lenders reviewed on SuperMoney.
What personal loan APRs does LendingPoint offer?LendingPoint offers a fixed APR personal loan product that ranges from 15.49% APR up to 34.99% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via LendingPoint?
Loan amounts start at $2,000 and go up to $25,000.
What can a personal loan from LendingPoint be used for?
Personal loans from LendingPoint are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.
What is the maximum loan term you can get with LendingPoint?
LendingPoint offers personal loans with terms ranging from 24 to 48 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
|Loan Amount||$2000 - $25000|
|Loan Term||24 - 48 months|
|APR||15.49% - 34.99%|
What fees does LendingPoint charge?
Does LendingPoint charge an origination fee?
LendingPoint charges a loan origination fee of 0% to 6% of the loan amount. LendingPoint deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does LendingPoint charge a late fee?
Yes, LendingPoint may charge borrowers a late payment fee
Does LendingPoint charge prepayment fees?
No, LendingPoint does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
|Origination Fee||0% - 6%|
|Late Payment Fee||N/A|
What do you need to qualify for a loan with LendingPoint?
Applicants with a credit score of at least 590 can apply for a loan via LendingPoint . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
To qualify for a LendingPoint loan, applicants need a minimum annual income of $20,000 or higher. LendingPoint will consider borrowers regardless of their employment status if they can prove their ability to repay the loan requested.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via LendingPoint. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Applicants must have an active and valid checking account
- Proof of citizenship or residence permit
- Recent pay stubs
- Proof of income
|Bank Account Required?||Yes|
|Joint Applications Accepted?||Yes|
|Credit Score||590 - 720|
What is the estimated funding time for a personal loan via LendingPoint?
LendingPoint will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.
Does LendingPoint report loan payments to credit bureaus?
LendingPoint may report credit data to the following credit reporting agencies:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
|No Prepayment Fee|
|Origination Fee||0% - 6%|
|Credit Score Range||
590 - 720
|Immigration Status Considered||
|Minimum Annual Income||$20,000|
|Bank Account Required|
|Employment Statuses Considered||
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$2K - $25K|
|Loan Term (Months)||24 - 48|
|APR (Fixed APR)||15.49% - 34.99%|