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Where does WeFinance do business?
WeFinance is a marketplace lender based in San Francisco, CA. It was founded in 2014 and offers student loans in 50 states (and Washington, DC).
What rates does WeFinance offer for in-school private student loan?
It offers a fixed APR that ranges from 0% up to 20%.
How much can you borrow from WeFinance?
Available loan amounts may vary by applicant but WeFinance has a minimum loan amount of $500.
Does WeFinance charge an origination fee?
No, WeFinance 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 WeFinance charge prepayment fees?
Yes, WeFinance charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.
What terms does WeFinance offer?
WeFinance provides repayment terms ranging from 1 to 3 years.
What type of borrowers will WeFinance consider?
WeFinance considers loans applications from:
- undergraduate students
- graduate students
- parents of students
What do you need to qualify for a loan with WeFinance?
WeFinance doesn’t disclose its credit score minimum. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
WeFinance only considers borrowers who are employed
U.S. citizens, permanent residents, and non-residents can all apply for a WeFinance loan.
Floor 1, 560 Brannan St.
San Francisco, CA 94107 USA
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- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time