What is the best personal loan lender in Delaware?

LightStream is the best personal lender in Delaware for the average borrower. LightStream is low on fees and offers flexible repayment periods and loan amounts. However, if you have bad credit, Upstart is the best lender while SoFi is the best option for borrowers with good credit. Upgrade is the best lender for debt consolidation while Best Egg may be best for you if you want a home improvement loan.

Which lender in Delaware has the lowest interest rate?

Upstart has the lowest interest rates in Delaware with APR rates starting at 3.22%.

Can I use a personal loan for vacations in Delaware?

You can use a personal loan to fund a vacation in Delaware. However, some lenders impose limitations on the usage of funds and may not allow you to use funds for investments, gambling or funding college. Always check with your specific lender if there are any limitations on usage of funds before you borrow.

Can I use a personal loan for home improvement in Delaware?

Yes, you can use a personal loan for home improvement in Delaware but this will depend on the lender. For example, Best Egg gives personal loans for various uses including home improvement.

What can I not use my personal loan for in Delaware?

You cannot use your personal loan in Delaware for illegal activities and gambling. Some lenders will also restrict usage of personal loans for investment and funding college expenses. Since restrictions on funds usage vary depending on the lender, always check with your lender for their usage terms before you apply for a personal loan in Delaware.

How much can I borrow in Delaware?

You can borrow personal loans ranging from $1,000 to $100,000 in Delaware. However, the loan limit you qualify for will depend on your creditworthiness based on factors such as your credit score, income level and debt-to-income ratio. You will also find that some lenders in Delaware have maximum loan amounts so it is important to compare lenders and find out their loan limits and other terms.

How long does it take to get a personal loan in Delaware?

It takes between a day and seven days to get a personal loan in Delaware. In some cases, you will find that higher loan amounts take longer to be disbursed compared to smaller amounts depending on the lender.

Can I pay off my loan early in Delaware?

Yes, you can pay off your loan early in Delaware. Most lenders in Delaware do not charge early payment fees if you pay off your loan early. However, since this can vary depending on the lender, always check beforehand to avoid incurring any penalties for early payment.

Top Lenders & Best Picks for You

Best Personal Loans in Delaware

MoneyGeek's research indicates that LightStream offers the best personal loans in Delaware. The lender provides loans up to $100,000 with fast funding and no origination fees.

However, the best personal loan lender depends on the borrower. For instance, Upstart is recommended for those with bad credit, SoFi for those with good credit, Upgrade for debt consolidation and Best Egg for home improvements.

WHAT WE’RE GEEKING OUT ON

The Best Overall Personal Loan Lender in Delaware
The Best Personal Loan Lender for Bad Credit in Delaware
The Best Personal Loan Lender for Good Credit in Delaware
The Best Personal Loan Lender for Debt Consolidation in Delaware
The Best Personal Loan Lender for Home Improvements in Delaware
How to Choose the Right Personal Loan for You
Frequently Asked Questions About Personal Loans in Delaware

MoneyGeek’s Pick on Best Personal Loan Lender in Delaware: Lightstream

MoneyGeek broke down the best lenders for personal loans in Delaware using multiple rating factors. We ranked lenders based on their loan repayment lengths, loan amounts, interest rates, minimum requirements, fees, BBB rating and other factors. MoneyGeek also analyzed lenders' approval policies including minimum credit scores, minimum income level and minimum age requirements.

Our analysis also looked at the user experience offered by lenders including the availability of online application options and mobile apps for borrowers.

Best Overall Personal Loan Lender in Delaware: 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
MoneyGeek found that LightStream is the best lender overall for personal loans in Delaware. LightStream was founded in 2012 and is available in all 50 states.
LightStream offers low fees and does not charge borrowers any origination, penalty or late fees. This lender also does not have a minimum gross income requirement so you can qualify even if you are not employed provided you have a credit score of at least 660.
Borrowers can receive funds on the same day and the convenient online application process makes it easy to apply and get your personal loan. However, this lender requires years of credit history so if you have no credit or limited credit history, you will not be approved.
Pros
No origination fees
Low interest rates starting at 4.49%
No prepayment penalties
No employment or minimum gross income requirement
Loans are funded immediately

Cons
No prequalification option
Conducts hard credit checks
Requires several years of credit history
APR range: 2.49%–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
on LightStream Website

Best Personal Loan Lender for Bad Credit in Delaware: 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
If you have a bad credit score, Upstart is the best lender for personal loans in Delaware. Upstart requires a minimum credit score of at least 300 and is one of the first companies to use artificial intelligence to qualify borrowers. This means that even if you do not have a lengthy credit history you could still be approved based on factors like employment status.
Upstart gives loans for either three- or five-year terms with an interest rate ranging from 3.22% to 35.99%. This lender offers rate checks with a soft inquiry meaning you can check if you pre qualify without affecting your credit score. However, depending on your credit score you may pay origination fees of up to 8%.
Upstart’s online application process is fast and easy. Borrowers can also manage their accounts online including changing their payment due date and making payments. Upstart was founded in 2012 and is available in 48 states, including Delaware.
Pros
Low credit score requirement
Offers prequalification
Flexible payment options
Soft credit inquiry
Quick disbursement period of one to two days

Cons
Only three- or five-year terms available
Does not allow co-signers
Debt-to-income ratio requirement of 45% or less
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
on Upstart Website

Best Personal Loan Lender for Good Credit in Delaware: 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 is the best lender in Delaware if you have a good credit score. This lender was founded in 2011 and is available in 49 states.
SoFi offers high loan limits of up to 100,000 and borrowers do not need to pay any origination fees. SoFi also does not have prepayment or penalty fees and you can get an auto payment discount.
SoFi offers rate quotes without a hard credit pull and a convenient online application process. However, this lender has a minimum loan limit of $5,000 so if you want to borrow smaller amounts you should choose a different lender. SoFi offers unemployment protection for up to 12 months so if you lose your job you can modify your monthly payments.
While SoFi is ideal if you have a good to excellent credit score of at least 680, it is not a good fit if you do not have a minimum gross income of at least $50,000. You may also find it inconvenient if you need a personal loan quickly because it may take up to two days for your loan to be funded.
Pros
No origination fees
No prepayment penalty
High loan limits
No late fees
Discounts for auto payment

Cons
Disbursement can take up to one week
Requires employment and a minimum gross income of $50,000
Minimum loan amount of at least $5,000
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
on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Delaware: 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
If you are looking for the best personal loans in Delaware for debt consolidation, Upgrade is the best lender. Upgrade was founded in 2017 and is available in 50 states, with headquarters in San Francisco.
Upgrade has flexible loan limits and terms where you can borrow amounts of up to $50,000 and repay over a period of three to five years. Your funds can be paid directly to creditors if your loan is for debt consolidation.
You can check whether you prequalify for an Upgrade loan by filling out a pre-qualification form. This will trigger a soft credit inquiry that will not affect your credit score. Upgrade loans can be disbursed in as little as one day so this lender is a good option if you need funds urgently. You also do not need to have a specified gross income to qualify but you do need to be employed. Upgrade loans cannot be used for investing, or college expenses or gambling. Upgrade allows joint applications but you need a minimum credit score of at least 560 to qualify.
Pros Pre-qualification with soft credit inquiry No minimum gross income requirement Quick loan disbursement No prepayment fees Offers direct payment to creditors on debt consolidation loans

Cons Charges origination fees High APR Charges late fees
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
on Upgrade Website

Best Personal Loan Lender for Home Improvement in Delaware: 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
If you want a personal loan for home improvement in Delaware, MoneyGeek found that Best Egg is the best option. Best Egg was founded in 2014 and is available in 47 states, including Delaware.
Best Egg offers flexible loan amounts and repayment periods and their loans can be used for home improvement, debt consolidation, relocation, large purposes and other expenses. However, you need a high credit score of at least 700 to qualify for a Best Egg personal loan.
If you are a homeowner, you can get a secured loan with interest rates ranging from 4.99% to 35.99% depending on your creditworthiness. You can apply for a Best Egg loan online and use the online platform to manage your account. To qualify for an unsecured personal loan from Best Egg you will need to have a minimum gross income of at least $50,000. This lender does not allow co-applicants.
Pros
No prepayment penalties
Auto payment discounts
Pre-qualification with soft credit inquiry
Quick disbursement
Secured loan option for homeowners

Cons
Charges origination fees
Charges late fees
Does not offer joint loans
APR range: 4.99%–35.99%
Minimum/maximum loan amount: $2,000–$50,000
Minimum credit requirements: 700
Repayment terms: 36–60 months
Time to receive funds: Next day
on Best Egg Website

How to Choose the Best Personal Loan Lender in Delaware for You

The average personal loan debt in Delaware is $16,674. People use personal loans for a variety of reasons ranging from consolidating debt to financing large purchases. However, before you apply for a personal loan it is important to consider factors such as your gross income, credit score and current debts. These factors will be important in determining the best lender for your profile and needs.

The below actions steps can help you find the best personal loans in Delaware.

Ask Yourself the Important Questions

How much funding do you need?
What is your credit score?
Can you afford the monthly payment?
How much debt do you already have?

Do Your Research

Fees, interest rates, minimum requirements and application processes vary depending on the lender. This means that doing adequate research, including comparing rates and fees, is important if you want to find the best lender for your needs. Consider that you will need to make monthly payments for two to four years. Find out a lender’s limitations on usage to help you determine whether they are right for you. MoneyGeek’s recommendations are for particular borrower profiles but you may have other needs that do not fit these scenarios. Doing your own research will help you find the best lenders for your specific needs and profile.

Wait

It is important to take some time before making a decision on your personal loan. Waiting a day or two and weighing your options will give you time to make sure that you are making the right choice since personal loans are a long-term commitment.

After doing your research, take time to think through your options and the commitment involved. If you find that the financial obligations may be overwhelming, consider getting the loan at a later time or looking for alternative methods of financing.

Read the Fine Print

Prepayment penalties, late payment fees and other fees can stack up over time. This is why reading the fine print on your personal loan is crucial before signing up. Some lenders will be high on fees and charges which may increase your debt burden even more. Reading the fine print can help you avoid unnecessary charges and help you save significant amounts.

Apply

Once you are confident that you have selected the right lender, loan amount and are aware of the commitment involved you can apply for your personal loan. Lenders will require your personal information such as addresses as well as income and financial status.

Most lenders have convenient online application processes which make application easier but some require an in-person application. However, you may want to consult the lender in person or over the phone if you need clarification on terms and fees to make sure you understand what your loan entails.

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

In some cases, a personal loan application may be declined. The reason for a declined application may include your credit score, gross income or debt-to-income ratio. However, since these are factors that can be improved over time, you can always improve them over time to increase your eligibility for a personal loan.

If you are declined, always confirm the reason with the lender. This will help you understand if you may be able to qualify for a loan with a different lender or what you need to improve. For instance, some lenders have a high credit score requirement while others will accept borrowers with average credit scores. Avoid applying for another loan until you have verified why you were declined and improved on it if possible.

Payday loans may seem like a viable alternative if you are declined for a personal loan, but they tend to have high-interest rates and short repayment periods so it is best to avoid them.

Frequently Asked Questions About Personal Loans in Delaware

Applying for personal loans in Delaware can help you get the funds you need for emergency expenses or other uses. However, the best lender for you will depend on a variety of factors. You can learn more in the frequently asked questions below.

METHODOLOGY

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

Within each ranking criteria 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 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, our picks are decided and chosen with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

sources

Best Egg. "Personal Loans." Accessed March 6, 2022.
SoFi. "Compare Rates and Terms." Accessed March 6, 2022.
LightStream. "Personal Loans." Accessed March 6, 2022.
Upstart. "Personal Loans." Accessed March 6, 2022.
Upgrade. "Personal loans." Accessed March 6, 2022.

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.