Would you recommend LendKey to your friends?
Thanks for your vote!
You voted: May or may not recommend
Where does LendKey do business?
LendKey is a marketplace lender based in New York, NY. It was founded in 2008 and offers student loan refinancing in 46 states (and Washington, DC).
What APRs does LendKey offer on its student refinancing loans?
The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate.
LendKey offers variable rate APRs that range from 2.58% to 7.96%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 3.15% to 8.12% APR.
How much can you borrow via LendKey?
Loan amounts start at $5,000 and go up to $300,000
Does LendKey charge an origination fee?
No, LendKey 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 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 loan off early.
What terms does LendKey offer?
LendKey provides refinancing loans of 5 to 20 years.
It also offers borrowers unemployment protection. This means that if you lose your job your loan payments may qualify for a temporary hold.
What type of borrowers will LendKey consider?
LendKey considers loans applications from:
- undergraduate students
- graduate students
- parents of students
- undergraduate degree holders
- graduate degree holders
- parents of graduates
What do you need to qualify for a LendKey student loan refinance?
Applicants with a credit score of at least 680 can apply for a loan via LendKey.
Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants must provide the following documentation:
- Proof of income
- Proof of graduation
- Loan payoff statements
What is the estimated funding time for a student loan refinance via LendKey?
LendKey will typically fund loans within 1 and 7 days of approval.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Dakota
- South Carolina
- South Dakota
- Active Duty Military
- Military Dependent
- Employed Full-Time
- Employed Part-Time
- U.S. Citizen
- U.S. Permanent Resident
- Loan Payoff Statements
- Proof of Graduation
- Proof of Identity
- Proof of Income
- Automatic Payments
- Check by mail
- Credit/Debit Card