Best Personal Loans in Garden Grove (CA)
We have found 122 personal loans to apply for in Garden Grove, CA. Add more criteria to compare personal loans and find the best one for you.
- Minimum credit:Fair (580-669)
- Autopay discount:0.5%
- Origination fee:No origination fee.
- Funds available in:1 business day.
- Loan Purpose:Personal Loan
- Pros:
- Low rates
- No fees
- Fast approval and funding
- Rate discount for autopay
- Digital experience
- Cons:
- Minimum loan amount is a bit high
- Requires a long credit history
LightStream is the online lending division of Truist (formerly SunTrust Bank).
The key feature of LightStream's online personal loans is that they can be up to $100,000 and used for nearly any reason.
LightStream charges no fees on its personal loans. Plus, it offers to send you $100 if you’re unsatisfied with the loan process.
- Minimum credit:Fair (580-669)
- Autopay discount:0.25%
- Origination fee:No origination fee.
- Funds available in:5 business days.
- Loan Purpose:Personal Loan
- Pros:
- No fees
- Autopay discount
- Cons:
- Long time to receive funds
- No Cosigner Option
Marcus offers unsecured personal loans up to $40,000 with rates from 6.99% to 24.99%.
Marcus does not charge origination, late payment and check processing fees.
- Minimum credit:Poor (300-579)
- Origination fee:10%
- Funds available in:1 business day.
- Loan Purpose:Personal Loan
- Pros:
- No prepayment penalty
- Next day funding
- Cons:
- Origination Fee
- Extra Fees
Upstart loans range from $1,000 to $50,000. Not all applicants will qualify for the full amount.
The minimum loan amount: $7,000 (MA), $6,000 (Ohio), $5,100 (NM), $3,100 (GA), $2,100 (HI).
Borrowers need credit scores of 580 or higher.
Upstart offers fixed-rate APRs that vary from 5.60% to 35.99%. Loan terms are available for 3 or 5 years.
The origination fee ranges from 0% to 8%.
- Minimum credit:Good (670-739)
- Origination fee:5%
- Funds available in:3-6 business days.
- Loan Purpose:Personal Loan
- Pros:
- No prepayment or late fees
- Free monthly FICO score updates
- Cons:
- Co-signers are not accepted
- Origination Fee
- Slow funding
- Not available in all states
The Payoff Loan™ is an unsecured personal loan designed to consolidate your credit cards into one monthly payment. Payoff requires a minimum FICO credit score of 640 or higher. It provides loans of up to $40,000.
The Payoff platform provides loans with rates between 8.99% and 29.99% APR. Minimum loan amount and APR may vary in certain states.
- Minimum credit:Poor (300-579)
- Origination fee:3 - 6%
- Funds available in:1 business day.
- Loan Purpose:Personal Loan
- Pros:
- Quick, easy online application
- Fast funding
- Cons:
- Origination fee
LendingClub offers loans of $1,000 to $40,000.
The APR range is from 8.30% to 36.00%. Loan terms are available for 3 or 5 years.
LendingClub charges an origination fee of 3% to 6% on personal loans.
- Minimum credit:Good (670-739)
- Autopay discount:0.25%
- Origination fee:No origination fee.
- Funds available in:1 business day.
- Loan Purpose:Personal Loan
- Pros:
- Fast approval and funding
- Rate discount for autopay
- No Fees
- Cons:
- Not available to residents of Mississippi
- No secured loan option
SoFi loans range between $5,000 to $100,000.
The APR range is from 7.99% to 23.43% (with discounts). Loan terms are available for 2 or 7 years.
The loan is not available in Mississippi.
SoFi personal loans have no fees: no origination fees, no late fees, no prepayment penalties.
- Minimum credit:Poor (300-579)
- Origination fee:4.75%
- Funds available in:1 business day.
- Loan Purpose:Personal Loan
- Pros:
- Fast approval and funding
- Low minimum credit score requirements
- No prepayment fees
- Cons:
- Fees
- No Autopay discount
- No Cosigner Option
Avant offers unsecured loans of $2,000 to $35,000. Rates range from 9.95% to 35.95%.
Avant charges an origination fee up to 4.75%.
Avant personal loans are not available in Colorado, Iowa, West Virginia, New York, Vermont, Hawaii, and Nevada.
- Minimum credit:Fair (580-669)
- Origination fee:2.41 - 5%
- Funds available in:1 business day.
- Loan Purpose:Personal Loan
- Pros:
- Fast approval and funding
- Simple application process
- Cons:
- Origination fee
- Extra Fees
- No Autopay Discount
- Not available in all states
Prosper offers fixed-rate APRs that vary from 7.95% to 35.99%. Loan terms are available for 3 or 5 years.
The origination fee ranges from 2.41% to 5%. Prosper charges $15 for failed payments or returned checks. Payments that are 15 or more days late are assessed a late fee.
If you don't qualify for a personal loan with Prosper, consider applying with a co-applicant.
- Minimum credit:Good (670-739)
- Origination fee:0.99 - 8.99%
- Funds available in:1-3 business days.
- Loan Purpose:Personal Loan
- Pros:
- Fast approval
- Low fixed rates
- Fast funding
- Cons:
- Fee charged
Best Egg is a national online lending platform offering personal loans starting at $2,000 for a variety of purposes.
Best Egg’s personal loans are ideal for consolidating debt or funding major expenses. Borrowers cannot use loans toward securities or postsecondary educational expenses.
There are no prepayment penalties, so you can pay off the loan ahead of schedule without extra fees.
Best Egg origination fees vary from 0.99% to 8.99%.
The quote you receive is based on multiple factors, including: Credit score and history, Income, Debt obligations, Loan amount, Repayment term (36 vs. 60 months).
- Minimum credit:Poor (300-579)
- Origination fee:$25 - $500
- Funds available in:1 business day.
- Loan Purpose:Personal Loan
- Pros:
- Secured and unsecured options
- Poor-credit applicants considered
- Cons:
- Origination fee
- Extra Fees
- High Rates
OneMain Financial offers loans that range from $1,500 to $20,000. The annual percentage rate ranges from 18.00% to 35.99%.
You may be approved for an unsecured or a secured loan. A secured loan requires you to provide collateral, such as a motor vehicle, while an unsecured loan doesn’t require any collateral at all.
OneMain charges late payment fees. These fees may range from a flat amount of $5 to $30 per late payment, or they may be a percentage of your entire monthly payment amount or a percentage of the delinquent portion of your monthly payment amount, ranging from 1.5% to 15%.
The lender charges an origination fee. Flat fees vary by state and range from $25 to $500. Percentage fees range from 1% to 10% of the loan.
TOP 5 banks offering personal loans in Garden Grove
- Bank name
- Total Assets
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How to choose the best personal loan in Garden Grove, California?
When it comes to choosing the best personal loan in Garden Grove, California, it's crucial to consider factors such as APR, loan amount, monthly payments, credit requirements, collateral, and origination fees.
Annual Percentage Rates (APR)
The APR is a vital aspect to consider when evaluating loans. It provides a more comprehensive view of the total cost, including interest rates and fees. Comparing APRs, rather than just simple interest rates, allows you to determine the loan that may cost you more in the long run. In Garden Grove, the APR for personal loans ranges from 4.49% to 36%.
Loan Amount
Since you may not have an exact sum in mind, it is helpful to research loan amount options and find a lender that offers a substantial range. In Garden Grove, personal loans are available from $100 to $500,000. Some lenders provide the flexibility to withdraw the loan in parts, enabling you to pay interest only on the amount utilized. Such flexible loans are particularly useful for projects with varying financial requirements, such as home renovations or car repairs.
Monthly Payments
Ensure that the monthly payment comfortably fits within your budget. It is crucial to strike a balance between loan repayment and meeting your other financial obligations.
Credit Requirements
While most lenders prefer borrowers with good to excellent credit (670 or higher), some lenders may accept individuals with poor to fair credit. Having a high credit score does not guarantee a lower interest rate, but it increases your chances of approval. In Garden Grove, the minimum acceptable credit score is Poor (300 - 579). Tailor your search to lenders offering suitable loan terms based on your credit score.
Collateral
Personal loans are typically unsecured, meaning they do not require collateral. However, some loans may require collateral, which often results in lower interest rates due to reduced risk for the lender. On the other hand, unsecured loans usually carry higher interest rates. If you wish to avoid high interest rates (up to 36% in Garden Grove), a secured personal loan might be a viable option.
Origination Fee
Many lenders charge origination fees in addition to interest charges. The origination fee, typically a percentage of the total loan amount, can vary among lenders. Opting for a personal loan with low processing fees can lead to long-term savings. The usual origination fee ranges from 0.5% to 1% of the loan amount.
Compare and Choose the Best Personal Loan in Garden Grove, California
Conducting a side-by-side comparison of available loan offers in Garden Grove will facilitate your research and help you choose a personal loan with optimal terms for your financial situation. By considering factors such as APR, loan amount, monthly payments, credit requirements, collateral, and origination fees, you can make an informed decision and find the best personal loan option.
| Lender | APR | Loan Amount | Loan term | Origination Fee | Score Required | Apply |
|---|---|---|---|---|---|---|
LightStream | 6.49 - 21.99% | $5,000 - $100,000 | 2 - 6 years | No origination fee. | From Fair (580-669) to Fair (580-669) | Check rates On partner's site |
Marcus by Goldman Sachs | 7.24 - 25.24% | $3,500 - $40,000 | 3 - 6 years | No origination fee. | From Fair (580-669) to Excellent (740-799) | Check rates On partner's site |
Upstart | 5.6 - 35.99% | $1,000 - $50,000 | 3 - 5 years | 10% | From Poor (300-579) to Excellent (740-799) | Check rates On partner's site |
Payoff® | 8.99 - 29.99% | $5,000 - $40,000 | 2 - 5 years | 5% | From Good (670-739) to Excellent (740-799) | Check rates On partner's site |
LendingClub | 8.3 - 36% | $1,000 - $40,000 | 3 - 5 years | 3 - 6% | From Poor (300-579) to Excellent (740-799) | Check rates On partner's site |
SoFi | 8.24 - 23.68% | $5,000 - $100,000 | 2 - 7 years | No origination fee. | From Good (670-739) to Excellent (740-799) | Check rates On partner's site |
Avant | 9.95 - 35.95% | $2,000 - $35,000 | 1 - 5 years | 4.75% | From Poor (300-579) to Excellent (740-799) | Check rates On partner's site |
Prosper | 7.95 - 35.99% | $2,000 - $40,000 | 3 - 5 years | 2.41 - 5% | From Fair (580-669) to Excellent (740-799) | Check rates On partner's site |
Best Egg | 7.99 - 35.99% | $2,000 - $50,000 | 3 - 5 years | 0.99 - 8.99% | From Good (670-739) to Good (670-739) | Check rates On partner's site |
OneMain Financial | 18 - 35.99% | $1,500 - $20,000 | 2 - 5 years | $25 - $500 | From Poor (300-579) to Excellent (740-799) | Check rates On partner's site |
Tips to Increase Personal Loan Approval Odds in Garden Grove, California
When applying for a personal loan, nobody wants to go through the process only to be refused. Taking the time to maximize your chances of loan approval will benefit you in the long run. If you are considering a loan in Garden Grove, here are five simple tips to increase your personal loan approval odds:
- Improve Your Credit. One of the most effective ways to enhance your loan approval odds is by increasing your credit score. While the minimum credit score requirement in Garden Grove is Poor (300 - 579), having a higher credit score improves your likelihood of approval. To improve your credit score:
- Pay your debts on time, as your payment history significantly affects your credit score.
- Keep your credit utilization low by using a smaller portion of your total credit limit.
- Avoid applying for new credit frequently, as it can negatively impact your credit score due to hard inquiries.
- Dispute any errors on your credit report, as they can be common. Removing errors can boost your credit score.
- Boost Your Income. Lenders consider your debt-to-income ratio when evaluating loan applications. Increasing your income can improve your chances of approval. While it may be challenging, there are options to increase your income, such as asking for a raise at your current job or taking on a part-time job. Any increase in income lowers your debt-to-income ratio and enhances your odds of approval.
- Minimize Debt. Avoid taking on additional debt while applying for a personal loan. Lenders perceive debt as a risk factor, so reducing your existing debt load improves your chances of approval. Focus on paying off existing debts and refrain from acquiring new debt. Having less debt makes it easier to manage loan repayment.
- Be Realistic About Loan Amounts. Requesting a larger loan amount increases the risk for lenders. While the maximum loan amount available in Garden Grove is $500,000, obtaining such a large loan can be challenging. Lenders are more likely to approve smaller loan amounts that pose less risk. Determine the exact amount of money you need and request the minimum required. The minimum loan amount offered by lenders in Garden Grove is $100.
- Consider a Joint Applicant. Exploring the option of a joint applicant or co-signer can increase your approval odds. When you apply with a joint applicant, lenders take into account both credit scores and incomes. Alternatively, a co-signer agrees to pay off the loan if you default. However, ensure that you trust your joint applicant or co-signer since your finances will be interconnected.
Conclusion:
To maximize your chances of personal loan approval in Garden Grove, focus on improving your credit score and maintaining a healthy credit profile. Increasing your income, avoiding new debt, being realistic about loan amounts, and considering a joint applicant or co-signer can also enhance your approval odds.
Taking the time to research and follow these steps will help you make an informed decision and increase your chances of securing a personal loan in Garden Grove. By utilizing personal loans wisely, you can bridge financial gaps, improve your financial situation, and achieve your goals.