Best Debt Consolidation Loans in Sacramento of 2024

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

  • LightStream

    • 7.49% to 25.49%APR Range
    • UndisclosedMinimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 144 monthsRepayment Terms
    • Same day funding possibleTime to Receive Funds

    LightStream allows borrowers to repay loans with flexible repayment terms and lower interest rates. Although it doesn’t offer the lowest APR range in the industry, those with the highest credit scores may qualify for the lender’s lowest APR rate. Through the lender’s Rate Beat Program, you may also be able to receive an interest rate that’s 0.10 percentage points lower than a competitor’s quoted rate.

    Borrowers may even receive their loan on the same day that their application is approved. This makes this lender a great option for those in need of funds quickly. Another advantage gained by opting with this lender is that you won’t pay any money in fees, like origination fees or early repayment fees. Loans can be calculated using the LightStream Rate Calculator to approximate your estimated payment amount.


    • High maximum loan amount of $100,000
    • Same-day funding
    • Rate Beat Program
    • No fees
    • No early repayment penalties


    • High minimum loan amount
    • High minimum credit score requirement
    • Potentially high APRs

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

  • SoFi

    • 8.99% to 29.99%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • 2 DaysTime to Receive Funds

    SoFi is our runner-up choice for the best debt consolidation lenders in Sacramento. Its direct payment to creditors streamlines debt repayment for eligible borrowers.

    Those with a minimum credit score of 680 can qualify for a loan ranging from $5,000 to $100,000. The lender’s high maximum loan amount and low APRs relative to its competitors make it a great option for those looking to consolidate a large amount of debt. With this lender, borrowers may receive an even lower APR by signing up for automatic payments.


    • No fees
    • Direct payment to creditors
    • Soft credit check
    • Quick prequalification process


    • High credit score requirement
    • High minimum loan amount range
    • Comparatively high APR rates

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

  • Upstart

    • 6.4% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 3 or 5 yearsRepayment Terms
    • 1 business dayTime to Receive Funds

    Upstart loans are a great option for borrowers that can’t qualify with a different provider due to their credit history. In addition to your credit score, the lender takes into account other factors, like your employment and education history.

    With this insurer, those with a minimum credit score of 300 may be approved for a debt consolidation loan in Sacramento. However, even though your application may be approved, it’s possible that you’ll receive an extremely high interest rate. Because of this, it’s best to compare rates with other providers to make sure you’re getting the best deal.

    The insurer’s maximum loan amount is capped at $50,000, which makes it less favorable for those who have a large amount of debt to consolidate. Additionally, the lender doesn’t offer a mobile application, so you won’t be able to manage your loan on the go.


    • No fees
    • Low minimum credit score requirement
    • Soft credit check
    • Fixed rates available


    • Same-day funding not available
    • High maximum APR
    • No mobile application available

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

  • Upgrade

    • 8.49% to 35.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Within a dayTime to Receive Funds

    Upgrade personal loans are best for borrowers who have less debt to consolidate. Borrowers can customize their repayment plan by selecting a fixed interest rate and term that fits their budget. Loan management is also made easier through its mobile application.

    The lender has a fair minimum credit score requirement of 560 so most applicants will be able to qualify. However, borrowers that simply meet the lender’s credit score requirement may receive a high interest rate.

    Although the lender doesn’t charge fees for early repayment of your loan, it does charge origination fees. Those obtaining a debt consolidation loan with this lender should be mindful of this additional expense.


    • Soft credit check
    • No prepayment fees
    • Fair minimum credit score requirement
    • Discounts available
    • Flexible payment dates


    • Relatively low maximum loan amount of $50,000
    • Charges origination fees

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.

What is the best debt consolidation loan lender in Sacramento?
Which lender in Sacramento has the lowest interest rates for debt consolidation?
What kind of debts can I not use my debt consolidation loan for in Sacramento?
How much debt can I consolidate in Sacramento?
How long does it take to get a debt consolidation loan in Sacramento?
Can I pay off my loan early in Sacramento?



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.

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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.