Where does Payoff do business?
Payoff is a lending platform based in Costa Mesa, CA. It was founded in 2009 and offers access to personal loans in 36 states across the USA.
What range of rates does Payoff offer?
Payoff offers personal loans with APRs starting at 8% and up to 25%.
Does Payoff charge an origination fee?
Yes, Payoff charges a loan origination fee of 2% to 5% of the loan amount. Payoff 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 Payoff charge a late fee?
No, Payoff will not charge you a late fee. of up to .
Does Payoff charge prepayment fees?
No, Payoff does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow from Payoff?
Loan amounts start at $5,000 and go up to $35,000.
What is the maximum loan term for a Payoff personal loan?
Payoff offers personal loans with a maximum term of 60 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.
What do you need to qualify for a loan with Payoff?
Applicants with a credit score of at least 640 can apply for a loan via Payoff. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via Payoff. 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
What is the estimated funding time for a personal loan via Payoff?
Payoff will typically approve (or deny) a loan application within 3 hours and fund personal loans as soon as 1 business day of approval.
Does Payoff report loan payments to credit bureaus?
Payoff reports credit data to the following credit reporting agencies:
Max Loan Term (Months)
Bank Account Required?
Credit Score Range
640 - 740
Employment Statuses Considered
- Employed Full-Time
- Employed Part-Time
Immigration Status Considered
- U.S. Citizen
- U.S. Permanent Resident
Joint Loan Applications Accepted
Only Individual Applications
- Active Duty Military
- Military Dependent
Minimum Annual Income
Supported Income Types
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
Verification Documents Required?
- Proof of Income
- Recent Pay Stubs
- Driver License (or other photo ID)
- Proof of citizenship/residence
No Late Fees
No Prepayment Fee
2% - 5%
Approval Speed (Hours)
Customizable Payment Dates
Funding Time Range (in days)
1 - 7
- Automatic Payments
- Check by mail
Pre-Approved Soft Credit Inquiry
Credit Bureau Reporting
$5000 - $35000
8% - 25%
Payoff works with lending partners to ultimately originate loans. Information about our Lending Partners, including their address, financial institution type and charter, as well as links to their websites and privacy policies can be found on our Lending Partners page. Individual borrowers must be at least 18 years old and have valid social security and a valid checking account. All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage and history. Currently loans are not offered in: DC, DE, MA, MI, MN, MS, NE, NV, OH, OK, VA, VT, WA, WI, and WV. Our mailing address is: Payoff, Inc., 3200 Park Center Drive, STE 800, Costa Mesa, CA 92626.
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