Last Updated: 04/18/2025
SuperMoney User Recommendation Score +56
Strongly recommended9 total votes
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Highlights
Community Rating
Strongly recommended
APR (Variable APR)
4.05% - 10.56%(Verified 06/21/2024)
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Amount Range
$5,000 - $50,000
Loan Term (Months)
6 - 180
Number of Reviews
LendKey Home Improvement Loans Review
LendKey Home Improvement Loans is offered by LendKey, a marketplace lending platform founded in 2008 and based in New York, NY. LendKey are available in 45 states and Washington, DC.
Key Takeaways
- Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging. Personal loan interest rates typically range between 9% and 36%. The starting rates for LendKey Home Improvement Loans are on the lower end of the spectrum.
- Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
- Large loan amounts. You can apply for loan amounts of up to $50,000 with LendKey Home Improvement Loans .
- No origination fee. LendKey Home Improvement Loans does not charge a loan origination fee.
- Short loan terms. LendKey Home Improvement Loans have loan terms as short as 6 months.
- Super long loan terms. LendKey Home Improvement Loans offers loan terms of up to 180 months. Most personal loans have a maximum term of 60 months.
LendKey Pros & Cons
| Pros | Cons |
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LendKey FAQ
What interest rates and personal loan terms does LendKey offer?
LendKey has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does LendKey offer?
LendKey offers a variable APR personal loan product that ranges from 4.05% APR up to 10.56% APR.
How much can you borrow via LendKey?
Personal loan amounts start at $5,000 and go up to $50,000
What is the maximum loan term you can get with LendKey?
LendKey offers loans with terms of up to 180 months.
| Personal Loan Amount | $5000 - $50000 |
| Loan Term | 6 - 180 months |
| APR | 4.05% - 10.56% |
What fees does LendKey charge?
Does LendKey charge an origination fee?
LendKey does not charge a personal loan origination fee.
A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, consider lenders that don’t charge origination fees.
Does LendKey charge a late fee?
Yes, LendKey may charge a late payment fee if you miss one of the regularly scheduled payments of up to $15.
Does LendKey charge prepayment fees?
No, LendKey does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | No |
| Prepayment Fee | No |
| Late Payment Fee | $15 |
What do you need to qualify for LendKey Home Improvement Loans?
Applicants with a credit score of at least 660 and up to 850 may be eligible for LendKey Home Improvement Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher. LendKey Home Improvement Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by LendKey Home Improvement Loans.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Driver's license or other government photo ID
| Minimum Age | 18 |
| Bank Account Required? | No |
| Credit Score | 660 - 850 |
What is the estimated funding time for a personal loan via LendKey?
LendKey will typically fund loans within 1 to 7 business days of approval and clearing necessary verifications.
Does LendKey Home Improvement Loans report your account activity to credit bureaus?
Yes, LendKey Home Improvement Loans reports to the following credit bureaus:
- 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 build your credit.
Does LendKey perform a hard credit pull?
Yes, LendKey performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are LendKey Home Improvement Loans legit?
LendKey was founded in 2008, it is a well-established company that has been in business for 18 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
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