LoanMart Personal LoansClaimed
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LoanMart Personal Loans Review
LoanMart Personal Loans is a personal loan offering by LoanMart, a direct lender based in Van Nuys, CA. Founded in 2002, LoanMart offers access to personal loans in 9 states across the USA.
What rates and terms does LoanMart Personal Loans offer?LoanMart Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.
What personal loan APRs does LoanMart Personal Loans offer?LoanMart Personal Loans offers a fixed APR personal loan product that ranges from 60% APR up to 165% APR. Interest rates vary by state.
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 LoanMart Personal Loans?
Loan amounts start at $1,500 and go up to $3,100.
What can a personal loan from LoanMart Personal Loans be used for?
Personal loans from LoanMart Personal Loans are typically used for special purchases, weddings, unexpected expenses or similar purposes.
What is the maximum loan term you can get with LoanMart Personal Loans?
LoanMart Personal Loans offers personal loans with terms ranging from 18 to 30 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||$1500 - $3100|
|Loan Term||18 - 30 months|
|APR||60% - 165%|
What fees does LoanMart Personal Loans charge?
Does LoanMart Personal Loans charge an origination fee?
LoanMart Personal Loans charges a loan origination fee.
Does LoanMart Personal Loans charge a late fee?
Yes, LoanMart Personal Loans may charge borrowers a late payment fee
Does LoanMart Personal Loans charge prepayment fees?
No, LoanMart 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.
|Late Payment Fee||N/A|
What do you need to qualify for a loan with LoanMart Personal Loans?
Applicants with a credit score of at least 300 can apply for a loan via LoanMart Personal Loans . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
LoanMart Personal Loans 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 cannot apply for a loan via LoanMart Personal Loans. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.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
|Bank Account Required?||Yes|
|Joint Applications Accepted?||Yes|
|Credit Score||300 - 700|
What is the estimated funding time for a personal loan via LoanMart Personal Loans?
LoanMart Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 1 business day of approval.
- New Mexico
- South Carolina
|No Prepayment Fee|
|Credit Score Range||
300 - 700
|Immigration Status Considered||
|Bank Account Required|
|Employment Statuses Considered||
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$1.5K - $3.1K|
|Loan Term||18 - 30 months|
|APR (Fixed APR)||60% - 165%|