I read all of these reviews when I was contemplating getting a loan with Earnest and I had mixed feelings just like any other reasonable person would. I didn't like putting my personal data online but I promise it was well worth the initial trouble of uploading all of the required documents, accounts, etc... I am used to going to a bank giving my social and signing a consent form to pull credit and then having an answer within a few moments. It is not that type of experience at ...
all. They really do take the time to review all aspects of your personal data. But enough with the experience (which was very good overall) when I was reading these reviews I found plenty of "numbers" from people who were denied but not so much from those who were approved. So here is one that was... I am mid 30s, married , and have a child. Bought a house 2 years ago. I have always paid my bills on time and most of the time I pay my debt off early. I wanted to finance about $19k in student loans which were a combination of Federal and private. I did not put my wife on the loan. So it was based on my income only but both of our bills were considered, ex: house, cars, credit card. I have an associates in healthcare and my income is roughly 55k a year and been employed full time since graduation (7years). My credit score was 729. My overall payments per month excluding prior student loans was almost 1700. That is including my house and my cars. So that's the numbers. 2 year degree, 55k income, roughly 1700 in monthly payments from debt (not utilities,cell,cable,... Just debt), a very average 729 credit score, Several months (3) of living expenses in savings, and about 50k worth of other assets(retirement, investments, etc). I got approved for a loan with a fixed rate of 7.3% which cut my student loans in half, reduced my total interest by a ton, and reduced the life of the loan. Just be honest on the application and let them know what you are looking for. I was looking to cut my total monthly payments by cutting my interest rate on existing loans, getting rid of cable, switching phone services, etc... due to rising expenses that come with a child and owning a home and living on a modest income. My goal was to put more in savings, pay off my consumer debt faster, save for child's education, and invest more for retirement. Earnest takes all these things into account when deciding if your loan is approved so just be honest.