Best Personal Loans in Denver (CO)
We have found 111 personal loans to apply for in Denver, CO. 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: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.
- Minimum credit:Good (670-739)
- Origination fee:Depends on the lender
- Funds available in:24 hours
- Loan Purpose:Personal Loan
- Pros:
- Checking rates will not affect your credit score
- Personal information is not sold to lenders
- Available rates and lenders will appear based on preferred settings, with no bias
- Receive actual rates based on your credit profile, not estimates
- Cons:
- Not a direct lender
Credible.com is a financial marketplace that helps thousands of Americans to get personal loans at the best rates they qualify for.
On Credible.com you can apply for a personal loan of up to $100,000. Then it will match your application with offers on the market and help you to find the lowest rate, based on your credit profile.
Credible.com is free to use and doesn't have any hidden fees.
TOP 5 banks offering personal loans in Denver
- Bank name
- Total Assets
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How to choose the best personal loan in Denver, Colorado?
When it comes to selecting the ideal personal loan in Denver, there are several strategies to consider. Personal loans can be a valuable resource for managing budgetary gaps and improving financial well-being.
Here are some tips for comparing and choosing the best personal loan in Denver, Colorado:
- Annual Percentage Rates (APR). Pay close attention to the Annual Percentage Rate (APR) as it offers a more accurate representation of the total cost of the loan, including fees. Comparing APRs will help you identify the loan with the most cost-effective terms in the long run. In Denver, APRs typically range from 4.49% to 36%.
- Loan Amount. Research the loan amount options available from different lenders to find one that aligns with your financial requirements. Denver offers loans ranging from $100 to $500,000. Consider lenders that provide the flexibility to withdraw funds in parts and only pay interest on the amount utilized. This feature is particularly useful for projects where the funding needs may vary over time, such as home renovations or car repairs.
- Monthly Payments. Ensure that the monthly payment amount comfortably fits within your budget. It is crucial to be able to meet your existing financial obligations while also repaying the loan and covering the associated interest.
- Credit Requirements. Most lenders prefer borrowers with good to excellent credit scores (670 or higher). However, some lenders may accept individuals with poor to fair credit. While a high credit score does not guarantee a lower interest rate, it improves the likelihood of loan approval. The minimum acceptable credit score in Denver is Poor (300 - 579). Tailor your search to lenders that consider your credit score to secure the best loan terms possible.
- Collateral. While most personal loans are unsecured and do not require collateral, there are instances where collateral may be necessary. Secured loans often come with lower interest rates as the lender has reduced risk with the presence of collateral. Conversely, unsecured loans generally have higher interest rates. If you wish to avoid high interest rates (which can reach up to 36% in Denver), consider exploring secured personal loan options.
- Origination Fee. Many lenders charge processing fees, often referred to as loan origination fees, in addition to interest charges. These fees are typically a percentage of the total loan amount and can vary among lenders. Opt for a personal loan with low origination fees to save money in the long run.
Compare and choose the best personal loan in Denver, Colorado
| 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 |
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 |
Credible | 5.4 - 35.99% | $600 - $100,000 | 1 - 7 years | Depends on the lender | From Good (670-739) to Excellent (740-799) | Check rates On Credible.com |
5 simple tips for increasing personal loan approval odds in Denver, Colorado
Additionally, here are five simple tips to increase your odds of personal loan approval in Denver, Colorado:
- Improve Your Credit. Enhancing your credit score is the most effective way to improve your loan approval chances. Focus on making timely debt payments, maintaining low credit utilization, avoiding excessive new credit applications, and disputing any errors on your credit report.
- Increase Your Income. Lenders consider your debt-to-income ratio when assessing your application. Increasing your income, whether through negotiation for a raise at your current job or taking up a part-time job, reduces your debt-to-income ratio and enhances your chances of loan approval.
- Minimize Debt. Avoid taking on new debt while applying for a personal loan. Lenders view existing debt as a risk factor, so paying off current debts and minimizing new borrowing will improve your loan approval odds.
- Realistic Loan Amounts. Requesting a larger loan amount increases the risk for lenders. In Denver, the maximum loan amount available is $500,000, but obtaining this amount may prove challenging. Lenders are more likely to approve smaller loan amounts that align with your income and repayment capacity. Determine the exact funds you require and request the minimum amount necessary. The minimum loan amount offered in Denver is typically $100.
- Consider a Joint Applicant. Exploring the option of a joint applicant allows lenders to consider both credit scores and incomes, improving your overall loan application. Alternatively, you can seek a co-signer who agrees to pay.
Conclusion
In conclusion, selecting the best personal loan in Denver, Colorado, requires careful consideration of various factors. To increase your chances of loan approval, focus on improving your credit score, increasing your income, minimizing debt, requesting realistic loan amounts, and considering a joint applicant or co-signer. By implementing these strategies and starting the loan application process early, you can enhance your chances of securing a personal loan that meets your financial needs in Denver.