Best Debt Consolidation Loans in Sacramento of 2024

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Edited byMorgan Hull

Updated: December 28, 2023

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Best Debt Consolidation Loan Lenders in Sacramento, CA

To help you find a lender that offers competitive interest rates and flexible repayment terms, MoneyGeek analyzed over 30 data points. We evaluated lender loan amounts, annual percentage rate (APR) ranges, repayment terms, origination fees as well as other terms and conditions, like late fees and funding restrictions.

Our in-depth analysis showed that LightStream offers the best solution for debt consolidation in Sacramento. With fixed APRs and no annual or origination fees, LightStream can help you save hundreds in interest over time.


Best Overall Debt Consolidation Loan in Sacramento, CA: LightStream


Runner-Up for Best Debt Consolidation Loan in Sacramento, CA: SoFi


Best Debt Consolidation Loan for Bad Credit in Sacramento, CA: Upstart


Best Debt Consolidation Loan for Good Credit in Sacramento, CA: Upgrade


How to Choose the Best Debt Consolidation Loan in Sacramento, CA, for You

On average, borrowers in California have a combined total of $22,425 in credit card and personal loan debt and a 10.21% interest rate. A debt consolidation loan offers the opportunity to repay this debt faster and at a lower interest rate.

If you’re thinking about getting a debt consolidation loan in Sacramento, you can follow our step-by-step guide to make the process easier for you.


Ask Yourself the Important Questions

Before applying for a debt consolidation loan, you should ask yourself the following questions:

  • How much funding do you need? It’s important to take out only what you need to consolidate your debt in order to avoid paying additional money in interest or taking out a second debt consolidation loan.
  • What’s your credit score? Your credit score will impact your eligibility for a loan, as well as the loan terms that you’ll receive. If you don’t need to start consolidating your debt immediately, you may benefit from taking the time to improve your credit score before applying for a debt consolidation loan.
  • Can you afford the monthly payments? Although repaying your loan as quickly as possible will reduce the amount you’ll pay in interest, you should make sure that it works with your budget. Choosing a payment that’s too high may deprive you of your present but opting for a payment that’s too low will accrue a significant amount in interest.
  • Do you have existing debts? Evaluate the types of debt that you currently have. It’s important to be aware that only certain types of debt are repayable with a debt consolidation loan. Loans for post-secondary education are not eligible.
  • Is your debt manageable through other means? The interest rate you have on your individual loans may be less than the one offered through a debt consolidation loan. In this case, it makes more sense to repay your loans individually at the lower interest rate.

Do Your Research

A debt consolidation loan is a commitment that can take between two and four years to repay. Before you apply for a consolidation loan, research the different terms and conditions offered by each lender so you can choose the one that best meets your needs. Note that some lenders do hard credit pulls that may negatively impact your credit score.

MoneyGeek’s list of the top debt consolidation lenders in Sacramento may be a great fit for some people, but don’t hesitate to explore alternatives that are designed specifically with your needs in mind.



After you’ve done your research and selected a lender that meets your needs, you should wait a few days. During this time, you can evaluate your other potential options and decide if a debt consolidation lender is the best financial decision for you.


Read the Fine Print

It may be tempting to skim through your loan agreement, but you should take the additional time to read the fine print. This will include any hidden fees, like those for prepayment, loan origination and late payment. To avoid unexpected costs down the road, it’s wise to clarify details you don’t understand with a financial expert before you sign.



Once you're sure about your decision, it's time to apply. To expedite the application process, you can gather all your documents ahead of time. You’ll likely need to provide proof of income and identification, as well as information about your address.

Applying for a Sacramento debt consolidation loan is easier than you’d think. In fact, you can do it online from the comfort of your home with a lender's mobile app or website. You can also apply with your chosen provider over the phone.

What to Do if You Can’t Get a Debt Consolidation Loan in Sacramento, CA

Lenders may reject your application for a debt consolidation loan for several reasons. A low credit score, insufficient income and high debt-to-income ratio may all cause your application to be denied.

If your application is denied, you should contact the lender directly to find out why you weren’t approved. You may be able to reduce your loan amount or shorten your repayment terms to have your application accepted. However, if a low credit score caused your application to be denied, you may want to improve it first before reapplying for a debt consolidation loan.

Even if you aren’t approved for a debt consolidation loan, MoneyGeek strongly advises against payday loans. These types of loans charge incredibly high interest rates and offer short repayment terms, which often end up costing borrowers more money.

Calculate Your Monthly Payment

Interest is charged on debt consolidation loans, which are usually paid off in monthly installments. MoneyGeek offers a debt consolidation loan calculator below to help you determine if you're financially ready to take out a loan.


Frequently Asked Questions About Debt Consolidation Loans in Sacramento, CA

When choosing a debt consolidation loan in Sacramento, it’s important to understand your financial history and current needs. MoneyGeek answered some commonly asked questions to help you make a well-informed decision.

MoneyGeek’s top pick for debt consolidation in Sacramento is LightStream. That said, this could change depending on your specific circumstances. For example, our research shows that people with bad credit may find better terms at Upstart.

Borrowers in Sacramento will find the lowest debt consolidation interest rates with Upstart.

Lenders have different restrictions on the usage of their loans. For instance, some will not allow their personal loans to be used for financing business or investment ventures.

In Sacramento, consolidation loans up to $100,000 are available. However, the maximum loan amount varies by lender.

Some lenders may disburse your funds the same day that you’re approved; others may take up to 48 hours or more.

Early repayment is possible, but you may be subject to a fee. You should contact your lender directly to see if they charge a fee for early repayment.



MoneyGeek reviewed more than 30 personal loan lenders using at least 35 individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amounts, minimum credit scores, minimum income amounts, application fees and disbursement times.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible — like prequalification, payment options and mobile apps.

After careful consideration and calculation, we make our picks with your best interests in mind. Our personal loan recommendations and expert tips are meant to help you make smart financial decisions when choosing a lender that meets your needs.


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.