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Best Debt Consolidation Loan Lenders in New Hampshire

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Updated: September 20, 2024

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WHAT WE’RE GEEKING OUT ON

Best Debt Consolidation Loan Lenders in New Hampshire

MoneyGeek considered over 30 data points in finding the best debt consolidation loans in New Hampshire. Among these data points are APRs, credit score requirements, loan amounts, repayment terms and the number of days to release funds.

We recommend Upgrade as the best lender for debt consolidation loans in New Hampshire. LightStream comes second. Both companies can give you an interest rate below the state average of 9.76%. However, the best debt consolidation loan for you depends on your needs and preferences, existing debts, credit profile, overall financial situation and other factors.

Best Overall Debt Consolidation Loan in New Hampshire: 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 is MoneyGeek's top choice for debt consolidation loans in New Hampshire. It has been one of the leading lenders since 2017, when Fintech Finance established it.

    It offers borrowers a personal loan of $1,000 to $50,000. You can repay anywhere between 36 and 60 months. While the lowest APR is 5.94%, the maximum rate of 35.47% can be quite heavy on the budget.

    This lender is ideal for borrowers looking for fast funding since funds are released within the same day. Keep in mind that this only happens if the lender sends funds directly to a borrower. In contrast, it will take up to two weeks if you want funds to be deposited straight to your creditor.

    Upgrade’s flexible payment dates are great for those who want to have more control of their monthly budget since they can change the dates. If you're not able to pay within 15 days from the deadline, Upgrade will charge a $10 late fee.

    Pros

    • Low minimum credit score
    • No prepayment penalty
    • Receive funds within the same day
    • Adjustable payment dates
    • Funds sent directly to you or your creditor

    Cons

    • Potentially high APR
    • Charges an origination fee (up to 8%)
    • Late fee (up to $10)
    • APR range: 5.94%–35.47%
    • Minimum/maximum loan amount: $1,000–$50,000
    • Minimum credit requirements: 560
    • Repayment terms: 36–60 months
    • Time to receive funds: Same day
    Upgrade

Runner-Up for Best Debt Consolidation Loan in NH: 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 was founded in 2012 by Truist. It's the second-best debt consolidation lender in New Hampshire since it offers personal loans with no late or origination fees. Additionally, this lender has no prepayment penalty fees.

    You can borrow personal loans between $5,000 and $100,000 within an APR range of 4.49% to 20.49%. The repayment period is within 24 to 84 months. All these will depend on your credit history. Besides having a credit score of at least 660 to qualify, borrowers need an established credit history, good payment history, stable source of income and more proof of good or excellent credit.

    You may need to pay attention to this lender's payment dates and modes. Once the loan is approved, payment dates cannot change. Additionally, LightStream doesn't post online payments on the same day, so New Hampshire borrowers should use their account two days before the due date.

    Pros

    • Same-day funding
    • High maximum loan amount
    • Low minimum APR compared to other lenders
    • 0.50% autopay discount
    • No origination, late or prepayment penalty fees

    Cons

    • Borrowers need an established credit history
    • Borrowers cannot change payment dates
    • Doesn't post payments online within the same day
    • APR range: 4.49%–20.49%
    • Minimum/maximum loan amount: $5,000–$100,000
    • Minimum credit requirements: 660
    • Repayment terms: 24–84 months
    • Time to receive funds: Same day
    LightStream

Best Debt Consolidation Loan for Bad Credit in New Hampshire: 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

    Since 2012, Upstart has been innovative in performing its lending business by utilizing AI in its operations. Because of this, Upstart can provide a quick approval process where you receive your rate within minutes and then get approved instantly.

    However, if you plan to continue with the application, you will have to face a hard inquiry that affects your credit score. Once this lender approves your application, you can get the funds within the next day. Repayment terms can go from 36 to 60 months, but there are no prepayment penalties if you pay off your loan early.

    With Upstart, you only need a credit score of 300 to qualify for a personal loan, making it ideal for borrowers with bad credit. New Hampshire borrowers can take out a loan of $1,000 to $50,000 with rates of 3.22% to 35.99%. While the minimum APR is low compared to other lenders, the maximum possible rate is higher than Upstart's competitors.

    Pros

    • No prepayment penalty
    • Low minimum credit score
    • The low minimum loan amount allows for small loans
    • Fast approval process

    Cons

    • Hard inquiry on application may affect your credit score
    • High maximum APR
    • APR range: 3.22%–35.99%
    • Minimum/maximum loan amount: $1,000–$50,000
    • Minimum credit requirements: 300
    • Repayment terms: 36–60 months
    • Time to receive funds: Next day
    Upstart

Best Debt Consolidation Loan for Good Credit in New Hampshire: 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 has helped pay off billions of debts since its services began in 2011. It is MoneyGeek's best pick for borrowers with good credit because its personal loans have no fees. Furthermore, it offers unemployment protection to borrowers.

    You can borrow loans from $5,000 to $100,000 with this lender. SoFi’s APR rates start at 5.74% and go up to 20.28%. You can get the lowest rate if you qualify for discounts, for instance, the autopay discount of 0.25%. This lender's term length is anywhere from 12 to 60 months.

    SoFi releases funds the same day as it approves your application. However, this period can be longer for those asking for loans higher than $20,000. This is because such high loans need more underwriting time.

    In case you become unemployed while paying off your loan, SoFi can help adjust the monthly payments. New Hampshire borrowers can also save money since they don't incur origination, late or prepayment penalty fees.

    Pros

    • No origination, late, prepayment penalty fees or other hidden charges
    • Same-day funding
    • Offers unemployment protection
    • An autopay discount of 0.25%

    Cons

    • High minimum APR
    • Loans above $20,000 may take longer to process
    • APR range: 5.74%–20.28%
    • Minimum/maximum loan amount: $5,000–$100,000
    • Minimum credit requirements: 680
    • Repayment terms: 12–60 months
    • Time to receive funds: Two days
    SoFi

How to Choose the Best Debt Consolidation Loan in NH for You

Many people in New Hampshire take out personal loans. In fact, the average personal loan debt in this state is $19,189.

MoneyGeek's goal is to help you find the best consolidation loan in New Hampshire. It's essential to consider factors like your credit score and the amount you need when looking to consolidate debt. The following steps should help you guarantee that you're well prepared for the commitment that comes with debt consolidation loans in New Hampshire:

1
Ask Yourself the Important Questions

Debt consolidation is one way to manage debts and streamline your monthly payments. While you could save money through lower rates and fewer fees, taking out a personal loan is still an important financial decision. Therefore, you must be certain about your decision before applying for a loan.

Several factors go into making this decision. Besides financial aspects such as your credit score and income, you also need to assess personal factors. These include the amount of money that you need, your capability to pay every month and how much commitment you're willing to bear.

To help you understand this more, consider asking yourself the following questions to determine the best debt consolidation lender in New Hampshire for your needs:

  • How much funding do you need?
  • What’s your credit score?
  • Can you afford the monthly payments?
  • Do you have existing debts?
  • Is your debt manageable through other means?
2
Do Your Research

Through research, you can shop around for different lenders, compare them and make an informed decision. You'll also find information that can help you further understand the process.

Taking out a loan is a major commitment. It helps to take your time to ensure this is the best step forward. There will be monthly dues that you need to meet for two to four years. You'll face hard credit checks that can affect your credit score. Always remember that commitments exist from the moment you apply until you fully pay your loan.

The best lender is different for every person. While MoneyGeek considered many factors in choosing the best lender for each category, our recommendations may not be the right fit for you. We suggest exploring your options, as it's the best way to find the lender that checks off all the boxes.

3
Wait

Because a personal loan is a long-term financial commitment, you must be sure about your preferred lender. Eliminate doubts as much as possible so you can avoid regrets in the future.

If you think you've found the best lender, consider waiting for a day or two before finalizing your decision. A little more time to weigh the pros and cons and later revisit your decision will ensure you arrive at the right choice.

When you step back, you'll be able to see other factors you may have missed when selecting the desired lender. Once you've considered every aspect of the loan, you can proceed with the process.

4
Read the Fine Print

Sometimes, borrowers miss out on small yet important details on their loan terms. They end up paying more for the loan or encountering problems in the future. Whether the information is found in your research or on the loan agreement, you should take the time to know everything that comes with your loan.

It's always wise to catch crucial information like fees when applying for a debt consolidation loan in New Hampshire. These fees can either increase or decrease your monthly dues, giving you a chance to save money in the long run. For some borrowers, the presence or absence of fees is the make-it-or-break-it factor for their decision.

Fees worth noting include origination, late and prepayment penalties fees. Lenders can charge you other fees for specific services, so it's best to be aware of these. You should also know how much each fee costs compared to other lenders.

5
Apply

The application process varies for every lender. Some lenders have a fully online application process, while others may be over the phone or in person. What matters is that you're comfortable with the application mode of your selected lender.

During the application, lenders will ask you to provide documents for identification, address verification and proof of income. For a smoother and faster transaction, ensure that you have all these documents before you apply for the loan. It's also crucial to fill in the correct information in the application form to avoid delays or the risk of being rejected.

While this may be the final part of the decision-making process, it is only the start of your financial commitment — once your application has been approved. After a few years, you might thank yourself for investing all the time and effort in looking for the perfect lender for you.

What to Do if You Can’t Get a Debt Consolidation Loan in NH

If a lender rejects your loan application, know that you're not alone. Typically, denied applications are due to low credit scores, insufficient income, debts and other common reasons. Although it can be worrying, you're not at a dead end. There are still a few things you can do to get a loan.

The first thing is to call your lender and ask specifically why your application was denied. You should also ask if there are ways to modify the application to make the lender reconsider. Some lenders may allow you to change the terms, amount or other information in your application to increase the chances of being approved for the loan.

You can also apply to other lenders. However, if you haven't worked on the reason for the initial denial, there's a possibility that other lenders will deny your application as well. MoneyGeek advises that you work on what caused the rejection before going to other lenders.

Payday loans are not ideal. These loans have extremely high-interest rates, making it difficult for borrowers to repay them. As a result, you may end up in more debt than intended. The expensive monthly payments can also significantly affect your monthly budget.

Calculate Your Monthly Payment

Loans require monthly payments that are computed with interest. You need to know if your budget can accommodate these installments, especially if you must undergo pre-approval. Calculate below the amount you will have to cover every month.

years
months
%
Principal
+ $114.98
Interest
+ $8.33
Origination Fee Percentage
+
%
Origination Fee Fixed amount
+
Total monthly Payment
$123.31

FAQs About Debt Consolidation Loans in New Hampshire

Your personal needs, credit profile, income and other important factors determine the best debt consolidation loan lender in New Hampshire. MoneyGeek responds to the following commonly asked questions about debt consolidation loans in New Hampshire:

What is the best debt consolidation loan lender in New Hampshire?

In New Hampshire, MoneyGeek found that the best consolidation loan lender overall is Upgrade.

Which lender in New Hampshire has the lowest interest rates for debt consolidation?

The New Hampshire lender with the lowest interest rates for debt consolidation is Upstart. Its APR starts at 3.22% and can go up to 35.99%

What kind of debts can I not use my debt consolidation loan for in New Hampshire?

Restrictions on fund usage depend on your lender. Consider checking with your lender if they have any restrictions before you apply for a debt consolidation loan.

How much debt can I consolidate in New Hampshire?

Depending on your needs and credit profile, you can borrow up to $100,000 to consolidate debt in New Hampshire.

How long does it take to get a debt consolidation loan in New Hampshire?

It depends on your lender. Some lenders can approve your application instantly and then release the funds on the same day. Others can take up to one week. The length of time depends on the details of your application.

Can I pay off my loan early in New Hampshire?

Yes. However, you may incur a prepayment penalty fee. Read the fine print of your loan agreement or ask your lender if they charge this fee.

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METHODOLOGY

MoneyGeek reviewed over 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 amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we 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, our picks are chosen 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.

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

sources
Shield Insurance

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.

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