Community Rating |
Rating not yet determined |
APR (Variable APR) | 4.05% - 10.56% |
Loan Amount | $5,000 - $50,000 |
Loan Term (Months) | 6 - 180 months |
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 Home Improvement Loans is available in 45 states (and Washington, DC).
- 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 5% and 36%. The starting rates for LendKey Home Improvement Loans are on the lower end of the spectrum.
- Fast access to funds. In some cases you can 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.
- Hard credit pull required. You can't check your rates or see if you prequalify for LendKey Home Improvement Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
- No origination fee. LendKey Home Improvement Loans does not charge a loan origination fee.
- Cosigner applications accepted. Applying for LendKey Home Improvement Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
- Short loan terms. LendKey Home Improvement Loans offers loan terms as short as 6 months. Most personal loans have a minimum term of 12 to 36 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.
- Minimum income of $50,000. You will need an annual income of at least $50,000 to apply for LendKey Home Improvement Loans, which is above average for the lenders in our database.
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What rates and terms does LendKey Home Improvement Loans offer?
LendKey Home Improvement Loans has lower interest rates than the average for lenders reviewed on SuperMoney.
What APR rate does LendKey Home Improvement Loans offer?
LendKey Home Improvement Loans 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 Home Improvement Loans?
Loan amounts start at $5,000 and go up to $50,000
What is the maximum loan term you can get with LendKey Home Improvement Loans?
LendKey Home Improvement Loans offers personal loans with terms ranging from 6 to 180 months.
Loan Amount | $5000 - $50000 |
Loan Term | 6 - 180 months |
APR | 4.05% - 10.56% |
What fees does LendKey Home Improvement Loans charge?
Does LendKey Home Improvement Loans charge an origination fee?
LendKey Home Improvement Loans does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does LendKey Home Improvement Loans charge a late fee?
Yes, LendKey Home Improvement Loans may charge borrowers a late payment fee of up to $15.
Does LendKey Home Improvement Loans charge prepayment fees?
No, LendKey Home Improvement 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 | N/A |
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.To qualify for personal loans with LendKey Home Improvement Loans, applicants need a minimum annual income of $50,000 or higher. LendKey Home Improvement Loans only considers borrowers who are employed and meet the minimum income requirement. 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 LendKey Home Improvement Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by LendKey Home Improvement Loans. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Driver's license
Minimum Age | 18 |
Bank Account Required? | No |
Application Types Accepted |
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Credit Score | 660 - 850 |
What is the estimated funding time for a personal loan via LendKey Home Improvement Loans?
LendKey Home Improvement Loans will typically provide a credit approval decision in less than an hour and fund the loan within 7 business days.
Does LendKey Home Improvement Loans report your account activity to credit bureaus?
Yes, LendKey Home Improvement 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.
Contact
- Headquarters
-
104 West 27th Street, 4th Floor
New York, NY 10001 - Visit Site
Other Services by LendKey
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Wisconsin
- Wyoming
Feature Breakdown
No Origination Fee | |
No Prepayment Fee | |
Late Fee Amount | $15 |
LendKey Home Improvement Loans Community Reviews
Would you recommend LendKey Home Improvement Loans to your friends?
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