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LendingPoint may be your best option for borrowers with dismal credit but decent earnings

LendingPoint may be your best option for borrowers with dismal credit but decent earnings

LendingPoint

As this loan provider is more worried about financial obligation to earnings ratio than credit rating. That said, the minimal credit history to have a LendingPoint loan is 585, which rules away many borrowers with bad credit. LendingPoint loans are not obtainable in western Virginia.

LendingPoint provides personal loans all the way to $25,000, as well as the cash can be available when the next working day after finishing the application that is online. As of this writing, APRs are priced between 9.99 per cent to 35.99 %, and loan payment terms typically operate between 2 to 4 years. Borrowers could be charged that loan origination charge as much as 6 per cent.

LendingPoint has some nice features that aren’t typically available on bad credit. For instance, you may be eligible to refinance the loan to get more money, a lower interest rate, and/or a smaller monthly payment if you make at least six months of consistently on-time payments.