Best Personal Loans in Pembroke Pines, FL: Top Lenders & Best Picks for You

Updated: December 28, 2023

Advertising & Editorial Disclosure

WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Pembroke Pines, FL

To identify the best personal loans in Pembroke Pines, MoneyGeek evaluated lenders for over 30 data points. Our analysis considered factors like loan limits, average annual percentage rates (APRs), repayment terms, minimum income, credit score requirements and fees. We also found the best lenders for borrowers based on factors like their credit score and loan purpose.

Overall, Truist offers the best personal loans in Pembroke Pines. Borrowers with bad credit may get the best personal loan from Upstart, while SoFi is ideal for those with good credit. Furthermore, those looking to consolidate debt or finance home improvements may find the best terms and rates from Upgrade and Best Egg, respectively.

Best Overall Personal Loan Lender in Pembroke Pines: Truist


  • Truist
    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    MoneyGeek found that Truist offers the best personal loans in Pembroke Pines. Truist was formed in 2019 from the merger of BB&T and SunTrust Banks and offers personal loans for emergency expenses, home renovations, debt consolidation and more.

    Truist’s loan products range from $3,500 to $50,000 with flexible repayment terms between six and 60 months. Compared to other lenders, Truist offers competitively low APRs. However, it should be noted that only those with the highest credit scores will receive the lender’s lowest APR.

    Truist loans do not incur any origination fees or early payment fees. However, there is no pre-approval option and you cannot check your rate before applying. For borrowers who need funds urgently, Truist is a good option since most loans are disbursed within a day.

    Pros

    • No origination fees
    • Relatively low APRs
    • Quick funding available
    • A+ BBB rating
    • Autopay discount

    Cons

    • No prequalification option
    • Relatively low maximum loan limit of $50,000
    • Co-signers not permitted
    • Hard credit check
    Truist

Best Personal Loan Lender for Bad Credit in Pembroke Pines: 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

    For borrowers with bad credit, Upstart is the best option for personal loans in Pembroke Pines. Upstart was founded in 2012 and offers loans to borrowers with credit scores as low as 300.

    Though you can qualify for an Upstart loan with poor credit, you may receive an extremely high interest rate. Its loan products, which vary from $1,000 to $50,000, feature extremely high interest rates. Though its minimum advertised APR is low, only those with the best credit scores are likely to receive it.

    Furthermore, borrowers are limited to two repayment term options: 36 or 60 months. This can be a downside for those looking to customize their loan repayment plan based on their budget and financial goals.The lender’s origination fees, which vary from 0% to 10% of the loan amount, can also significantly increase the cost of your original loan.

    Pros

    • Low minimum credit score requirement
    • No fees for early payment
    • Quick disbursement of funds
    • Initial soft credit check
    • Funds can be used to pay for college or graduate school in most states

    Cons

    • Only two repayment term options
    • Relatively high APRs
    • Origination fees
    • Co-signers not permitted
    • Low maximum loan limit of $50,000
    Upstart

Best Personal Loan Lender for Good Credit in Pembroke Pines: 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

    MoneyGeek’s analysis found that SoFi offers the best personal loans in Pembroke Pines for those with good credit. SoFi is headquartered in San Francisco, California, and accepts borrowers with credit scores of 680 or higher.

    Compared to other lenders, SoFi offers competitive APRs depending on a borrower’s credit score. Because you can borrow up to $100,000, this lender is a good option for those who need to fund large purchases or pay for significant expenses. Loans are repayable in terms of up to 60 months, but you can also pay off your loan early without incurring extra charges.

    In case you lose your job while repaying your loan, SoFi’s unemployment protection will temporarily pause or modify your payment schedule. You can also check your rate online before applying without impacting your credit score.

    Pros

    • No origination fees
    • No prepayment fees
    • Soft credit inquiry
    • High maximum loan limit of $100,000
    • Unemployment protection

    Cons

    • High minimum credit score requirement
    • High minimum loan limit of $5,000
    • Minimum income requirements
    • Restrictions on the usage of funds
    • Co-signers not permitted
    SoFi

Best Personal Loan Lender for Debt Consolidation in Pembroke Pines: 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

    MoneyGeek found that Upgrade offers the best personal loans in Pembroke Pines for those looking to consolidate debt. This lender was established in 2016 and provides direct payment to creditors for debt consolidation loans.

    To qualify for a loan from Upgrade, you need a fair credit score of at least 560. Borrowers can receive loan amounts ranging from $1,000 to $50,000, making it a suitable option for those that need a low-to-moderate amount of funds. In most cases, loans are funded the next day, so this lender is a good option if you need funds urgently.

    It’s possible that you may receive a high interest rate with this lender; Upstart’s advertised maximum APR exceeds 35%. Before you apply, however, you can check your rate on Upstart’s website without negatively impacting your credit score.

    Pros

    • Pre-approval with soft credit check
    • Quick funding
    • No prepayment fees
    • Flexible repayment terms
    • Direct payment to creditors on debt consolidation loans

    Cons

    • Relatively high APRs
    • Origination fees
    • Late fees
    • Relatively low maximum loan limit of $50,000
    • Co-signers not permitted
    Upgrade

Best Personal Loan Lender for Home Improvement in Pembroke Pines: 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 need a personal loan for home improvement in Pembroke Pines, MoneyGeek found that Best Egg is the best option. Best Egg was founded in 2014 and offers personal loans for various uses, most notably home improvement.

    Best Egg’s loan products range from $2,000 to $50,000. To obtain a low APR with this lender, you’ll need an excellent credit score. Though there are no fees for early loan repayment, the lender charges a fee of 0.99% to 8.99% for loan origination.

    Because the lender has a high minimum credit score requirement of 700, those with average or poor credit won’t be eligible. Borrowers that want to gauge their eligibility and calculate their approximate rate can receive a quote on Best Egg’s website prior to submitting an application.

    Pros

    • Quick funding
    • No prepayment fees
    • Soft credit check
    • Autopay discount
    • Flexible repayment terms

    Cons

    • High APRs
    • Origination fees
    • Late fees
    • Co-signers not permitted
    • High minimum credit score requirement
    Best Egg

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

Personal loans can be a convenient source of funding if you need to renovate your home, consolidate debt or fund large purchases. On average, borrowers in Florida carry a personal loan debt of $10,400, so you aren’t alone if you need a loan.

It’s important to consider your income, debt-to-income ratio and credit score when applying for a personal loan. MoneyGeek recommends taking the following steps to find the best personal loan for your needs:

1
Ask Yourself the Important Questions

Before you apply for a personal loan, it’s important that you’ve considered alternative funding options and assessed your finances. A personal loan is a long-term commitment that typically takes between two and four years to repay, so you want to ensure it’s contributing to your financial goals rather than hindering them. To make the best decision, you should reflect on the following questions:

  • How much funding do I need? It’s important to know how much funding you need to avoid taking out too much or too little money. This will help you pay less in interest or prevent you from having to apply for a second loan.
  • What is my credit score? Your credit score will impact the lenders and loan terms available to you. If you have a low credit score, and don’t need funds urgently, consider improving your credit score first before applying for a personal loan. With a higher credit score, you’ll likely receive a lower APR, which will reduce the amount you’ll pay in interest.
  • Can I afford the monthly payment? It’s important to consider whether your current sources of income are sufficient to make your monthly payment and cover general expenses.
  • How much debt do I already have? If you already have a considerable amount of debt, and you aren’t planning to use your personal loan for debt consolidation, you may want to consider an alternative option.
2
Do Your Research

Loan terms, like APRs, loan amounts and repayment periods, vary widely between lenders. To find the best lender for your situation, you should research and compare their borrower requirements and loan products. MoneyGeek’s guide is a great place to start, but our recommendations are based on generic borrower profiles, not your unique situation. Because of this, it’s important you complete your own research to identify the best lender for your needs.

3
Wait

Applying with a lender before thoroughly vetting all your prospects could negatively impact your long-term finances. MoneyGeek recommends waiting a day or two before applying for a loan to ensure that you’re making the best decision. During this time, you can explore alternative options to decide if a personal loan is the best decision for you.

4
Read the Fine Print

Many borrowers fail to read important details included in the fine print of their loan agreement. MoneyGeek emphasizes only accepting your loan agreement after you’ve searched the document for late, origination and early repayment fees. That way, you can factor these costs into your expenses and avoid unexpected surprises later on.

You should ask your lender to clarify any terms that you don’t understand. This will help you avoid incurring hidden charges, which can add up over the life of your loan.

5
Apply

After you choose a lender and understand their terms, you can submit your application. Although most personal loan applications are completed online, you will still need to provide documents that offer proof of identification, income and address. Be careful to fill out your application completely and correctly to avoid delays in loan processing.

Some lenders allow in-person applications, so you can visit them if you need assistance with the application. Most vendors also provide support online or over the phone if you need help.

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

If your personal loan application is declined, don’t be discouraged. Lenders reject applications for various reasons, including failure to meet the minimum credit score or income requirements. After your application is rejected, you should ask your lender specifically why it was declined. This will provide valuable insight into what you need to do to increase the chances that your application will be approved in the future.

Factors like your credit score and income can change over time, so you can always reapply after you’ve improved these. You may also consider applying with a different lender who has more flexible requirements. MoneyGeek recommends only applying after you’ve improved the factors that caused your initial application to be rejected.

Payday loans may seem like a viable alternative, but Moneygeek advises against these types of loans. Aside from high interest rates, payday loans tend to have short repayment periods which make them difficult to repay on time.

Frequently Asked Questions About Personal Loans in Pembroke Pines

If you’re looking for the best lender for personal loans in Pembroke Pines, your borrower profile and needs will be the main determining factors. MoneyGeek answered frequently asked questions below to help you learn more.

What is the best personal loan lender in Pembroke Pines?
Which lender in Pembroke Pines has the lowest interest rate?
Can I use a personal loan for vacations in Pembroke Pines?
Can I use a personal loan for home improvement in Pembroke Pines?
What can I not use my personal loan for in Pembroke Pines?
How much can I borrow in Pembroke Pines?
How long does it take to get a personal loan in Pembroke Pines?
Can I pay off my loan early in Pembroke Pines?

Our Personal Loan Methodology

MoneyGeek analyzed more than 30 personal loan lenders in Pembroke Pines to identify the best personal loans in the city. Our analysis used over 35 data points across six main categories to rank the best lenders. We factored in loan accessibility, affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Several data points within each ranking category were assessed, focusing on factors that carry the most weight when selecting a personal loan lender. These factors include APRs, loan limits, minimum requirements, funding time and application fees.

At MoneyGeek, we value you, the consumer. As such, we also consider customer support business ratings and other features that enhance the user experience. Our analysis also considers additional features that help to make your experience easier like prequalification, payment options and mobile apps.

Our top picks and recommendations are made with your best interests in mind to ensure that you make smart financial decisions when choosing the right lender for your profile and needs.

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.

Insurance
Mortgage
Credit Cards
Loans
About MoneyGeekPressPrivacy PolicySitemap
Copyright © 2024 MoneyGeek.com. All Rights Reserved Terms of Use