Sometimes our dreams in life require a certain extra hand to finally come out. That usually means a little more money than we currently have in savings.
A personal loan can certainly help, whether it’s to consolidate credit card debt or even to make a big purchase. They offer the opportunity to get some much needed extra cash at low interest rates. In this case, the best option is Laurel Road Personal for those looking for attractive personal loan options with up to 5 years and good limits to put in their pocket.
What’s more, Laurel Road personal loans come with fairly low interest rates and no upfront fees, plus a 0.25% discount on the auto pay application fee – with the ability to change the payment date if needed.
Another interesting point to note is that the minimum APR is 7.00%, and can reach the 23.25% mark. Laurel Road’s annual percentage rates are competitive with other good credit lenders, and there is a rate discount for borrowers who use automatic payment.
Pros and Cons for Laurel Road Personal Loans
Laurel Road Personal is available all over the USA and offers great interest rates for most users. But there is a little more to this line of credit that may convince you to take out a loan and make your financial dreams come true.
Some advantages include:
- Guarantors allowed
- Guarantor option
- No origination fee
- Automatic payment discount
- Pre-qualification check available
- Automatic payment discount of 0.25%
- Co-signature and joint lending options
- Direct payment to lenders with debt consolidation loans
Cons for Laurel Road Personal
Certainly Laurel Road Personal is not perfect. For starters, funding approval is lengthy, up to seven business days, which can be bad for someone who needs the loan immediately, not to mention that other lenders offer shorter times.
Also, another issue is the limited loan payment term, where you can only change the payment date once after signing, unlike other servicers that allow you to change multiple times.
Finally, this point may weigh on your choice as it relates to the payment term which in this option is short – ranging from three, four or five years – again unlike competitors who offer loans with longer terms.
How to Qualify for Laurel Road Personal
According to Laurel Road Personal the company makes its decisions based on each unique credit profile, analyzing many details. This means that even if you have a good credit score, it is not guaranteed that you will get an approval at the desired rates.
However, we have brought some details that can help you have the best chance of getting the perfect loan:
- Detail disposable income
- Show debt-to-income ratio
- Have credit history credentials
- Provide verification of employment
- Be a US citizen or permanent resident
How to Qualify
To get this application, the best way to apply is online through the application form provided on the official Laurel Road Personal website.
Before applying for a loan, make sure you have evaluated your credit report and read all the details in the fine print to avoid confusion when the monthly payment due arrives. Laurel Road Personal will probably do an affordability assessment before providing access to funds.
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