Earnest Personal Loan Reviews 2019 - Make Lemonade

Earnest Personal Loan Review

Earnest Personal Loan Reviews

Company Overview: Earnest

Earnest is a leading, innovative student loan and personal loan lender based in San Francisco. Earnest differentiates itself by allowing you to choose your own student loan interest rate matched to your loan term. Earnest also offers industry-leading repayment flexibility on its student loans – you can choose your exact minimum monthly payment and increase your payment anytime to pay off your loan faster. Earnest also looks beyond your credit score and incorporates savings, education and earnings potential.

Earnest Personal Loan Overview

Earnest offers attractive rates and terms compared with other top lenders in the personal loan industry:

Overview

Minimum Loan Amount:$5,000
Maximum Loan Amount:$75,000
Loan Terms:3, 4, 5 years
Minimum Income:None

Details

Origination Fees:No
Late Fees:No
Prepayment Penalty:No
Soft Credit Check:Yes

How Earnest Compares: Key Benefits Of Earnest’s Personal Loan

Here are some of the reasons that Earnest borrowers love Earnest personal loans:

  • Customization: You can choose your exact minimum monthly payment.
  • Optional Bi-weekly Payments: You can choose to make bi-weekly payments to save money on interest.
  • Ability To Increase Payment: You can increase your payment anytime to pay off your student loans faster.
  • Ability To Skip Payment: You can skip a payment and make it up later.
  • In-House Servicer: Your personal loan will be serviced in-house by Earnest (so, no third party servicers)

Eligibility Criteria

To apply for an Earnest personal loan, you need to meet the following eligibility criteria:

Requirements To Apply For Earnest Personal loan

Minimum Age: At least age of majority in your state

Citizenship/Residency: U.S. citizen or permanent resident (applies to co-signer too, if any)

Employment: You are currently employed or have an offer of employment

Eligible States: All states, except KY, AL, NV, DE and RI

Loan eligibility depends on a number of additional factors, which may include your credit profile, income and total debt payments.

Bottom Line: Is Earnest right for you?

Earnest has a top reputation for personal loans.

Remember, Earnest caters to borrowers with good credit. For personal loans, Earnest has no minimum credit score, but many borrowers have a credit score of at least 700. Earnest does not have a minimum income requirement for personal loans, but the average Earnest borrower is a high-income earner.

Earnest also makes the online application easy because you upload a photo or screenshot directly, which saves the hassle of mailing or faxing documents.

If you have a good credit score, stable employment and want funds fast, then an Earnest personal loan may be right for you. You can use an Earnest personal loan for any purpose such as to pay off credit card debt, medical expenses, home improvement, engagement ring, wedding, honeymoon or new baby expenses.

Next Steps: How To Apply To Earnest

You can apply for an Earnest personal loan in 3 easy steps.

Step 1: Check your personalized personal loan rate in just 2 minutes.

Step 2: Complete application and upload documents.

Step 3: Accept loan terms and get funded.

The good news is that you can check your new personal loan rate online with Earnest before you complete the full application. This way, you’ll know whether you can be approved for Earnest personal loan. Therefore, Earnest will provide you with an estimated personal loan rate. The pre-approval is only a soft credit pull so there is no impact to your credit.

If you have been pre-approved, you’ll need at least the following documents to complete the online application (which takes about 10-15 minutes):

  • Your most recent pay stubs
  • Driver’s license or passport (or other form of government-issued identification)

Funding for your personal loan is quick and can occur within several days.

Applying is super easy – get your personalized rate in 2 minutes

*Checking your rate does not affect your credit score.


The Best Personal Loans For 2019

Lender
Rates (APR)
Minimum Credit Score

Overview

Minimum Loan Amount:$5,000
Maximum Loan Amount:$100,000
Loan Terms:2 - 7 years
Minimum Income:None

Details

Origination Fees:No
Late Fees:No
Prepayment Penalty:No
Soft Credit Check:Yes

Overview

Minimum Loan Amount:$2,000
Maximum Loan Amount:$35,000
Loan Terms:3, 5 years
Minimum Income:None

Details

Origination Fees:0.99% - 5.99%
Late Fees:$15 (3 day grace period)
Prepayment Penalty:No
Soft Credit Check:Yes

Overview

Minimum Loan Amount:$1,000
Maximum Loan Amount:$45,000
Loan Terms:3, 4, 5 years
Minimum Income:No

Details

Origination Fees:No
Late Fees:No
Prepayment Penalty:No
Soft Credit Check:Yes

Overview

Minimum Loan Amount:$1,000
Maximum Loan Amount:$50,000
Loan Terms:3, 5 years
Minimum Income:None, but must have at least $1,000 per month of free cash flow

Details

Origination Fees:1% - 6%
Late Fees:$10 after 15-day grace period
Prepayment Penalty:No
Soft Credit Check:Yes

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