Best Personal Loans in Garden Grove, CA: Top Lenders & Best Picks for You

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Edited byAliha Strange

Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Garden Grove, CA

MoneyGeek analyzed the top personal loan lenders in Garden Grove using 35+ data points, including disbursement time, BBB ratings, fees, income, credit score and APR ranges. Note that these differ greatly based on the lender you choose.

From our findings, LightStream is the best overall lender in the city, although a different lender may offer better terms depending on your profile. For example, Upstart may be more suitable if you have bad credit. SoFi is the best if you have good credit. Upgrade is recommended for those who wish to consolidate their debt, and Best Egg is for those looking to make home improvements.

Best Overall Personal Loan Lender in Garden Grove: LightStream

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Best Personal Loan Lender for Bad Credit in Garden Grove: Upstart

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Best Personal Loan Lender for Good Credit in Garden Grove: SoFi

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Best Personal Loan Lender for Debt Consolidation in Garden Grove: Upgrade

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Best Personal Loan Lender for Home Improvement in Garden Grove: Best Egg

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Where to Start: How to Choose the Best Personal Loan Lender in Garden Grove for You

Garden Grove residents may get a personal loan to finance large purchases, such as buying a car, consolidating debt, covering medical costs and meeting moving expenses. Before selecting a personal loan lender, ensure your monthly income, credit score and debt-to-income (DTI) ratio meets lender requirements. The average personal loan debt in Garden Grove is $16,790.

MoneyGeek suggests using the following steps to secure the best personal loan in the city.

1

Ask Yourself the Important Questions

Assessing your financial goals against personal loan terms can help you establish whether this type of loan is ideal for your needs. Repaying your loan may be an uphill task if you do not determine beforehand that you can realistically make the monthly installments. To get started on this journey, please ask yourself the following questions:

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

Do Your Research

Besides standard terms and conditions that may apply to all personal loans in the city, lenders may quote different fees and rates for your profile. Although MoneyGeek’s study makes the selection process easier by outlining the top lenders and their features, comparing multiple lenders and reviewing other alternatives not included in this study can help you find the best loan for your situation. Repaying a personal loan involves monthly payments for two to four years or more. That said, you need to be sure that the option you select is the best on the market.

3

Wait

While comparing offers from different companies, wisely evaluate all features. Waiting a few days before choosing a final lender and personal loan product will allow you time to review all features, including interest rates and fees, before moving forward. A personal loan is a huge commitment, and you want to be sure of your decision before completing the application process.

4

Read the Fine Print

Details of your loan, such as interest rates and application fees, determine the total repayment cost. Some lenders may have hidden fees, and without paying close attention to detail, you may discover these after signing the loan agreement. After settling on a lender, take the time to research the associated costs, including penalties, origination fees and late fees.

5

Apply

After completing your research and reading through your fine print, you can submit your application. At this point, you should put together the details and documents as requested by the lender. These include personal identification documents, proof of residence and income. Some lenders may allow you to complete the entire process online, although you may also decide to submit your details in person.

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

Even if the lender rejects your application, you can submit again elsewhere or with the same lender, depending on the rejection reason. We suggest you reach out to the lender to determine why and find out what changes you can make to your application details to get approval. For instance, you may shorten the repayment term or add a co-signer to meet the lender's terms.

However, if the lender rejects your application due to issues related to your credit score or monthly income, avoid submitting another application until you rectify the cause of the rejection.

If necessary, approach other lenders with more favorable personal loan requirements in Garden Grove. At this stage, some borrowers often opt for short-term loans, like payday loans, which feature very high-interest rates. While these loans may offer a short term solution, you may be liable for high repayment amounts, especially if you fail to make timely payments.

Frequently Asked Questions About Personal Loans in Garden Grove

Your credit score, monthly income and financial goals determine the best personal loan in Garden Grove for your needs. MoneyGeek answered the following questions about personal loans in the city.

The best overall personal loan provider for most Garden Grove residents is LightStream. However, borrowers with good credit may find the best offer at SoFi, and those with poor credit scores can consider Upstart. Best Egg and Upgrade, respectively, are the top lenders for home improvement and debt consolidation loans.

In Garden Grove, the company offering the lowest minimum interest rate is Upgrade.

You can use your personal loan for various reasons, such as covering vacation costs. However, not all lenders will accept an application to fund any purpose. Before applying, find out from the lender if any restrictions apply to your offer.

Most personal loans in Garden Grove can fund home improvement projects. However, if you need clarification, consider checking with your lender. Best Egg is the top lender in the city for this purpose.

Personal loans cover any purpose in Garden Grove, although some lenders may limit how you use the funds. For instance, some lenders do not offer funding for postsecondary education costs, business investments, gambling, illegal activities and the purchase of stocks and bonds.

According to our research, the minimum you can borrow from personal loan lenders in Garden Grove is $1,000 and the maximum is $100,000. Your exact amount will depend on the lender.

Every lender in Garden Grove has a unique disbursement period, ranging from a few hours to several days.

Paying off your loan early in Garden Grove may or may not attract a prepayment penalty. Get in touch with your lender to establish prepayment terms before making payments.

Our Personal Loan Methodology

To determine scores for this study, MoneyGeek reviewed 35+ data points for more than 30 personal loan providers. The data points were categorized using six primary scales - accessibility, flexibility, lender transparency, customer service, flexibility and customer friendliness.

Each scale comprised an array of data points that carry the most weight while selecting the best lender in Garden Grove. Some of these include the loan range, minimum income and credit score, APR range, disbursement duration and application fees.

To ensure the consumer remains at the center of our research process, we also considered factors that contribute to exceptional customer experience and support, including the application process, payment options and availability of mobile apps.

We utilized the outcome of this review to select our top lenders in Garden Grove and provide recommendations and tips to help you choose the best offers for your financial goals.

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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. Learn more about our editorial policies and expert editorial team.