LendingPoint Personal Loans
in Personal Loans from LendingPoint LLCClaimed
LendingPoint Personal LoansClaimed
in Personal Loans from LendingPoint LLC
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LendingPoint Personal Loans Review
LendingPoint Personal Loans is offered by LendingPoint LLC, a direct lender founded in 2014 and based in Kennesaw, GA. LendingPoint Personal Loans is available in 41 states (and Washington, DC).
- Fast access to cash. In some cases you can get your money within 1 business day.
- Fair credit accepted. The credit score needed for LendingPoint Personal Loans is relatively low. Borrowers with a credit score as low as 590 may qualify for LendingPoint Personal Loans.
- Origination fees of up to 6%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
- Minimum income of $20,000. You will need an annual income of at least $20,000 to apply for LendingPoint Personal Loans, which is below average for the lenders in our database
LendingPoint Personal Loans Pros and Cons:
What rates and terms does LendingPoint Personal Loans offer?
LendingPoint Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.
What APR rate does LendingPoint Personal Loans offer?
LendingPoint Personal Loans 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 Personal Loans?
Loan amounts start at $2,000 and go up to $25,000.
What can a personal loan from LendingPoint Personal Loans be used for?
Personal loans from LendingPoint Personal Loans 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 Personal Loans?
LendingPoint Personal Loans 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 Personal Loans charge?
Does LendingPoint Personal Loans charge an origination fee?
LendingPoint Personal Loans may charge a loan origination fee of 0% to 6% of the loan amount. LendingPoint Personal Loans 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 Personal Loans charge a late fee?
Yes, LendingPoint Personal Loans may charge borrowers a late payment fee.
Does LendingPoint Personal Loans charge prepayment fees?
No, LendingPoint Personal Loans 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 LendingPoint Personal Loans?Applicants with a credit score of at least 590 and up to 720 are eligible for LendingPoint Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
To qualify for personal loans with LendingPoint Personal Loans, applicants need a minimum annual income of $20,000 or higher. LendingPoint Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
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 LendingPoint 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 LendingPoint Personal Loans. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Recent pay stubs
- Proof of income
- Driver's license
- Proof of citizenship or residence permit
|Bank Account Required?||Yes|
|Application Types Accepted||
|Credit Score||590 - 720|
What is the estimated funding time for a personal loan via LendingPoint Personal Loans?
LendingPoint Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.
Does LendingPoint Personal Loans report your account activity to credit bureaus?
LendingPoint Personal Loans reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
|No Prepayment Fee|
|Origination Fee (%)||0% - 6%|
|Checking Account Required|
|Employment Statuses Considered||
|Immigration Status Considered||
|Joint Loan Applications Accepted||Individual Applications|
|Minimum Annual Income||$20,000|
|Supported Income Types||
|Verification Documents Required||
|Credit Score Range||
590 - 720
|Approval Speed||24 hours|
|Credit Bureau Reporting||
|Customizable Payment Dates|
|Funding Time Range||1 - 7 days|
|Pre-Approved Soft Credit Inquiry|
|Loan Amount||$2,000 - $25,000|
|APR (Fixed APR)||15.49% - 34.99%|
|Loan Term||24 - 48 months|