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

Our analysis of various lenders’ APR ranges, available loan amounts, funds disbursement time, credit score and income requirements and other essential factors will help you find the lender that offers the best personal loans in Palmdale.

Our research shows that LightStream is the best personal loan lender in Palmdale. If you have a strong credit history, it would be best to get a loan from SoFi. However, Upstart will suit borrowers with bad credit scores. You can opt for Upgrade to get a loan to consolidate high-interest debt, while Best Egg is ideal if you want to renovate your home.

Best Overall Personal Loan Lender in Palmdale: 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
    LightStream

Best Personal Loan Lender for Bad Credit in Palmdale: 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
    Upstart

Best Personal Loan Lender for Good Credit in Palmdale: 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
    SoFi

Best Personal Loan Lender for Debt Consolidation in Palmdale: 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
    Upgrade

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

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

MoneyGeek found that the average personal loan debt in California is $16,790. A personal loan can help you in many ways, like funding vacations, weddings or other significant expenses. Although you can meet your financial needs using a loan, you must ensure that you can repay it easily by considering your financial situation when you apply for a loan.

We recommend taking these steps when looking for the right lenders for your situation.

1

Ask Yourself the Important Questions

To analyze your financial situation, you must consider your current income and previous debts. It’s also smart to understand how much of your income goes towards making monthly loan payments. This will give you an idea of whether you can afford a new loan. Since each lender differs in terms of their requirements, you should assess if your credit history is sufficient to qualify for a loan easily.

You can ask yourself the following questions before looking for the best lender in Palmdale:

  • 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

After knowing your current financial situation, you can start researching the perfect lender based on your funding needs. To do sufficient research, you should consider each lender’s credit score and income requirements, minimum and maximum loan amounts and other important factors.

Shopping around and comparing each lender before making the final decision is essential. You should know that getting a loan is a significant commitment and it can take a few years to pay it off. You might find MoneyGeek’s guides on personal loans helpful when researching. However, you should also do your research as our guides do not offer personalized recommendations.

3

Wait

You might have done sufficient research and chosen the best lender for your needs. However, it would help if you did not rush into making the final decision and applying since a loan is a long-term commitment. MoneyGeek recommends waiting a few days to consider your decision and ensuring that your chosen lender offers suitable loans for your funding needs. You can also review the lender’s terms during this period.

4

Read the Fine Print

It’s also important to consider the fine print of the lender’s loan agreement to save money in the long run. When reviewing the terms, some essential fees to note are application, origination, prepayment and late payment fees. Taking the time to read the fine print will ensure you aren’t caught off guard by any unexpected terms or conditions.

5

Apply

It is best to apply for a loan once you understand the necessary details and review the important information. During the application process, the lender might ask for information to verify your address, income and other financial details.

You can submit an application with online-only lenders. However, many lenders permit in-person applications. This can be beneficial if you have questions that you need answered before submitting your application.

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

If the lender rejects your loan application, you can take a few steps to improve your chances of getting approval. However, you should understand that a lender will reject an application if they consider you a risky borrower. The factors that cause rejections are bad credit scores, unstable employment, a high debt-to-income ratio, low income and incomplete applications.

In the event you are rejected, you should email or call the lender to ask about the factors that may have caused the loan denial. If the lender rejected your loan due to a bad credit score, you could apply again after improving your credit history by getting a credit-rebuilding credit card. It’s generally not the right choice to immediately apply with a different lender without first improving the factor that caused your initial loan rejection in the first place.

MoneyGeek recommends staying away from payday loans as these loans have high APRs and short repayment terms. You could accumulate much more debt if you fail to repay a payday loan in accordance with the terms.

Frequently Asked Questions About Personal Loans in Palmdale

To choose the ideal lender for your situation, consider your needs first and then opt for the lender that fits those needs. MoneyGeek researched the following frequently asked questions to help you choose the ideal lender.

Our Personal Loan Methodology

MoneyGeek produced this guide after reviewing many personal loan lenders using various individual data points based on these categories, including loan affordability, consumer friendliness, lender transparency, customer service, accessibility and flexibility.

We assessed many data points that have the most significance when choosing a lender. These factors include funds disbursement time, APR ranges, available loan amount, minimum income amount, minimum credit score and application fees.

We value you, the consumer, which is why we also analyzed each lender’s business ratings, customer support and additional features that could make your experience easier and more accessible, like prequalification, mobile apps and payment options.

MoneyGeek chose the best lenders after careful consideration and keeping your interests in mind. Our loan recommendations can help you make the best decision when choosing a lender that fits your needs.

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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.