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Best Personal Loans in Tucson, AZ

Banks, financial institutions, loan lenders and credit unions offer personal loans in Tucson, Arizona, for debt consolidation, home remodeling, hospital bills, vacations, weddings and much more. The lending company will determine whether you qualify for a personal loan based on your income, credit score, debt-to-income ratio and other considerations. MoneyGeek determined that Arizona residents have an average credit score of 714, an average credit card balance of $5,414 and an average personal loan debt of $20,113. The average personal loan interest rate in Arizona is 8.93%.

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Last Updated: 7/29/2022
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MoneyGeek's Picks for Best Personal Loan Lenders in Tucson, AZ

To assist you in finding the best personal loan lenders in Tucson, MoneyGeek analyzed 30 data points to discover which lenders are better suited to various financial needs. Our research examined a lender’s affordability and availability, loan terms, origination and late fees, minimum credit score requirements, APR ranges, disbursement time, income requirements, customer service and some factors.

This study indicates that LightStream is the best lender for personal loans in Tucson overall. However, given your specific needs and circumstances, you may be better off with a different lender. For instance, Upstart is the ideal choice for people with poor credit, SoFi is best for persons with good credit, Upgrade is the best alternative for debt consolidation, and Best Egg is the top choice for those planning a home improvement.

Best Overall Personal Loan Lender in Tucson: Lightstream


  • LightStream

    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    on LightStream Website

Best Personal Loan Lender for Bad Credit in Tucson: Upstart


  • Upstart

    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    on Upstart Website

Best Personal Loan Lender for Good Credit in Tucson: SoFi


  • SoFi

    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds

    on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Tucson: Upgrade


  • Upgrade

    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds

    on Upgrade Website

Best Personal Loan Lender for Home Improvement in Tucson: Best Egg


  • Best Egg

    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    on Best Egg Website

How to Choose the Best Personal Loan Lender in Tucson for You

The average personal loan debt in Arizona is $20,113. You can use a personal loan for a variety of financial needs, such as medical expenses, moving expenditures, home improvement, debt consolidation, education costs and emergency expenses.

But before applying for a personal loan in Tucson, Arizona, you must consider several variables to determine whether or not a personal loan is appropriate for your requirements. MoneyGeek has defined the steps below to assist you in making an informed decision.

1

Ask Yourself the Important Questions

Answering the following questions will assist you in making a sound financial decision.

  1. How much funding do I need?
  2. What is my credit score?
  3. Can I afford the monthly payment?
  4. How much debt do I already have?
2

Do Your Research

While a personal loan might help you meet your financial obligations, it can be an expensive financing option. Typically, you make monthly payments for two to four years. Conducting your own research can help you avoid potential problems.

Examine all the elements that could impact your loan eligibility. These variables may include your income, credit score and debt-to-income ratio. You must also check rates from various lenders to verify you are receiving the best deal. Ensure that your loan can be used for its intended purpose, as some lenders set restrictions on how funds are utilized.

While MoneyGeek prepared this guide to assist you in selecting the best personal loan lender, our suggestions may not apply to your specific circumstances. Therefore, undertaking your own research will help you find the most suitable lender for your financial requirements.

3

Wait

A personal loan is a substantial obligation; you must ensure you can repay it. Therefore, examine every feasible possibility and then take a break. Reconsider your decision after two days of reflection. A clearer mind can result in better financial choices.

4

Read the Fine Print

Check for details you may have overlooked during your analysis. These may include origination costs, minimum income criteria and prepayment penalties. Getting acquainted with this important information can save you money in the long run.

5

Apply

Once you are confident in your lender choice, submit your application. Ensure you have the information and documentation your lender may need, such as identification, proof of address and income verification. Most lenders allow you to apply online, by phone or in person.

What to Do if You Can’t Get a Personal Loan in Tucson

It is normal to experience disappointment if your personal loan application is declined. First, contact your lender to ask why you were denied. A low credit score, limited income or a high debt-to-income ratio could be the cause. Then, inquire whether there’s anything you can change about your loan application to make it more acceptable. For example, you can reduce the loan's term or principal amount.

You can also seek out a different lender. However, it is more important to address the issue that caused your loan application to be denied in the first place. Restore your credit or increase your income so you won't be rejected the next time you apply.

Additionally, avoid payday loans. They may be an enticing borrowing option, but they have significant downsides. Typically, these loans are repaid within two to four weeks at a steep interest rate.

Frequently Asked Questions About Personal Loans in Tucson

The ideal personal loan provider can differ based on your needs, credit score and income. MoneyGeek responded to some frequently asked questions regarding personal loans in Tucson to assist you in determining which lender is most suited to your needs.

Our Personal Loan Methodology

At MoneyGeek, we examined over 30 personal loan companies based on more than 35 data points in six primary categories: consumer-friendliness, loan affordability, accessibility, customer service, flexibility and lender transparency.

Within each category, we studied several data aspects that, in our view, carry the most weight when choosing a personal loan lender. These factors include APR ranges, minimum income requirements, available loan amounts, minimum credit score requirements, disbursement time and application fees.

MoneyGeek values you, the client, so we also analyze each lender's customer support, business ratings and added features that may make your experience easier and more efficient, such as prequalification, mobile applications and alternative payment methods.

Our suggestions are created with your best interest at heart, having followed deliberation and analysis. Our personal loan suggestions and expert guidance are meant to aid you in picking the most suitable lender for your needs.

sources

The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity.