
Payoff Personal Loans
in Personal Loans from Payoff Inc.
Would you recommend Payoff Personal Loans to your friends?
Community Rating | Strongly not recommended |
APR (Fixed APR) | 5.99% - 24.99% |
Loan Amount | $5,000 - $40,000 |
Loan Term (Months) | 24 - 60 months |
Number of Reviews | 16 |
Payoff Personal Loans Review
Payoff Personal Loans is offered by Payoff Inc., a financial services company founded in 2009 and based in Torrance, CA. Payoff Personal Loans is available in 48 states (and Washington, DC).
- APRs starting at 5.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Payoff Personal Loans are on the lower end of the spectrum.
- Prequalified rate. You can check your prequalified rate at Payoff Inc. with a soft pull that will not affect your credit score.
- Origination fees of up to 5%. This is average for lenders that charge origination fees. However, plenty of lenders don't charge them. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
- No late fees. Missing a payment can seriously damage your credit, but Payoff Personal Loans will not charge additional fees if you miss the due date on a payment.
- Minimum income of $25,000. You will need an annual income of at least $25,000 to apply for Payoff Personal Loans, which is above average for the lenders in our database.
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What interest rates and personal loan terms does Payoff loan offer?
Payoff loan has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Payoff loan offer?
Payoff loan offers a fixed APR personal loan product that ranges from 5.99% APR up to 24.99% APR.
How much can you borrow via Payoff loan?
Business loan amounts start at $5,000 and go up to $40,000.
What is the maximum loan term you can get with Payoff loan?
Payoff loan offers loans with terms of up to 60 months.
Personal Loan Amount | $5000 - $40000 |
Loan Term | 24 - 60 months |
APR | 5.99% - 24.99% |
What fees does Payoff loan charge?
Does Payoff loan charge an origination fee?
Payoff loan may charge a personal loan origination fee of 0% to 5% of the personal loan amount. Payoff loan deducts the origination fee directly from your personal 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 loan charge a late fee?
Yes, Payoff loan may charge borrowers a late payment fee if you miss one of the monthly payments.
Does Payoff loan charge prepayment fees?
No, Payoff loan 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 | 0% - 5% |
Prepayment Fee | No |
Late Payment Fee | $0 |
What do you need to qualify for Payoff Personal Loans?
Applicants with a credit score of at least 640 and up to 850 may be eligible for Payoff Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.To qualify for personal loans with Payoff Personal Loans, applicants need a minimum annual income of $25,000 or higher. Payoff Personal Loans only considers borrowers who are employed and meet the minimum income requirement.
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 Payoff 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 Payoff Personal Loans. Permanent resident / green card holders are also eligible to apply. Not all companies will work with visa holders. Payoff Inc. does offer its services to temporary resident visa holders such as F1 or H1B holders.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking account
- Recent pay stubs
- Proof of income
- Driver's license
- Proof of citizenship or residence permit
Minimum Age | 18 |
Bank Account Required? | Yes |
Application Types Accepted |
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Credit Score | 640 - 850 |
What is the estimated funding time for a personal loan via Payoff loan?
Payoff loan will typically approve (or deny) a loan application within 3 hours and fund loans within 7 business days of approval.
Does Payoff Personal Loans report your account activity to credit bureaus?
Yes, Payoff Personal 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.
Message From Payoff Personal Loans
Message From Our Editor
Contact
- Headquarters
-
21515 Hawthorne Blvd
Torrance, CA 90503 - (800) 878-0901
- Visit Site
- Email Support
About Payoff Personal Loans
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
Late Fee Amount | $0 |
No Prepayment Fee | |
No Late Fees | |
Origination Fee (%) | 0% - 5% |
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