What is the best personal loan lender in Idaho?

LightStream is the top overall personal loan provider in Idaho. While people with good credit have SoFi as the best lender, Upstart is the perfect choice for those with bad credit scores. The best debt consolidation and home improvement loan lenders, respectively, are Upgrade and Best Egg .

Which lender in Idaho has the lowest interest rate?

Dave is the personal loan lender with the overall lowest interest rate according to MoneyGeek's analysis. However, Upstart provides the lowest interest rates in Idaho, with a minimum rate of 3.22%.

Can I use a personal loan for vacations in Idaho?

Many people take out personal loans in order to pay for vacations. There may be lenders, though, that do not allow their loans to be used for this purpose in Idaho. It’s best to call your lender to find out whether you can fund your vacation using the personal loan obtained from them.

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

The majority of personal loans can be used to renovate or repair one's home, and most lenders do not impose restrictions on their use for home renovations. If you are unsure, inquire with the lender about any limits on how the loan may be utilized.

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

Personal loans can be utilized for practically any purpose. However, depending on the lender, the loan may be restricted in its application. Some lenders do not allow their loans to be used for purposes like refinancing mortgages or other loans, funding post-secondary education, acquiring bonds or stocks or engaging in gambling activities. If there are any limits in place, your lender will notify you.

How much can I borrow in Idaho?

A personal loan's maximum amount can vary depending on the lender you choose in the state. Regardless, the lending institutions in Idaho generally offer a loan of $500 or as much as $100,000.

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

Depending on the company you choose, the time it takes for your Idaho personal loan to be funded will differ. Generally, processing a personal loan could take anywhere from one day to a week.

Can I pay off my loan early in Idaho?

If you pay off a personal loan before the term is over, the lender may charge you a prepayment penalty. However, some lenders allow you to pay off your debt earlier without paying a penalty. You can obtain additional information about this by calling the lender or reading the loan agreement's fine print.

Top Lenders & Best Picks for You

Best Personal Loans in Idaho

MoneyGeek determined that LightStream offers the best personal loans in Idaho since it has a high maximum loan amount and flexible repayment options.

Other lenders worth considering for particular financing needs are Upgrade for debt consolidation and Best Egg for home improvement. In addition, SoFi is an ideal lender for borrowers with good credit scores. For those with bad credit, Upstart is the best lender.

WHAT WE’RE GEEKING OUT ON

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

MoneyGeek’s Pick for Best Personal Loan Lender in Idaho: LightStream

MoneyGeek evaluated the performance of Idaho's loan providers based on more than 30 different variables. Some of the factors we considered while making our selection of the lenders offering the best personal loans in Idaho include APR, term ranges, fees, credit score, income requirements, customer service and BBB ratings

If you live in Idaho, you might want to look into LightStream for personal loans because they are the best overall lender in the state. MoneyGeek also found the best lenders for those with bad credit versus good credit, as well as those who are seeking a loan for debt consolidation or for a home renovation.

Best Overall Personal Loan Lender in Idaho: 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
Truist Financial Corporation's LightStream is a wholly online site that offers personal loans for nearly any reason. With its high maximum loan amount and longer terms, you can effectively meet a variety of major expenses. Aside from the A+ rating from the Better Business Bureau, the company has other characteristics that make it the best overall personal loan provider. It has a no-fee structure and offers autopay discounts and joint loans, without a minimum income requirement. In addition, the majority of approved loans are processed the same day.
On the contrary, those with credit scores below 660 are not eligible to apply. Additionally, it is not suitable for someone who wants to borrow money with the assistance of a co-signer. Moreover, you cannot use the loan to refinance an existing LightStream loan, pay college tuition or post-secondary educational expenditures or to make investments or business purchases.
Pros
No origination fee, late fee and prepayment penalty
No minimum income requirement
Loans of up to $100,000 offered
Same day loan processing
Auto repayment discount of 0.5%

Cons
Hard credit check that lowers credit score
Restrictions on usage of funds
Cannot cosign loans
Debt consolidation loans will not be paid directly to the third-party lender
APR range: 4.49%–20.49%
Minimum/maximum loan amount: $5,000 to $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 Idaho: 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
Upstart is a 2012-founded lending platform with an A+ rating from the Better Business Bureau. Its personal loans are offered with no restrictions regarding the usage of funds. The fact that Upstart gives loans to individuals with credit scores as low as 300 speaks to its reputability as the best lender for those with poor credit. Its low minimum income requirement also makes it accessible to a wide range of customers. Additionally, the company does a soft inquiry credit check to ensure that the applicant’s credit score isn’t affected. An important distinction is that the lender is willing to lend money to borrowers with debt-to-income ratios up to 45%.
However, if you do not want to pay high interest rates or want a large loan amount, the lender is not for you. As a personal loan lender, the firm may only provide a maximum of $50,000. In addition, those who apply for a loan with a co-signer will be let down.
Pros
Low credit score requirement
Soft credit inquiry that doesn’t affect your credit score
No prepayment penalty
Low minimum income requirement of $12,000
Those with up to 45% Debt-to-Income (DTI) limits are eligible

Cons
Potentially high interest rates
Delinquencies or bankruptcy on credit report can affect the acceptance of an application
Origination fee of up to 8% and late fee of $15
Maximum loan amount of $50,000
APR range: 3.22%–35.99%
Minimum/maximum loan amount: $1,000 to $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 Idaho: 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
Since its inception as Social Finance in 2011, SoFi has aimed to provide a wide range of loans and other financial products. The Better Business Bureau rated the company highly, but MoneyGeek also ranked it as the best due to its standout features. SoFi's Unemployment Protection Program is its standout feature. If you are suddenly laid off, the program allows forbearance of your monthly loan payments. It offers same-day loans up to $100,000 with no origination, late or prepayment fees, while its soft credit inquiry doesn’t affect your credit score. If you want to save even more on your monthly premiums, you can do so by enrolling in auto payments and receiving reductions of up to 0.3%.
Regardless of your good credit score, SoFi may not be the best fit for you if you are considering a personal loan with a co-signer or don't make $50,000 a year.
Pros
No origination fee, late fee or prepayment penalty
Loan amount of up to $100,000
Autopay discount of 0.25%
Offers unemployment protection
Same day funding

Cons
High credit score requirement of 680
Minimum income requirement of $50,000
APR range: 4.99% to 19.53%
Minimum/maximum loan amount: $5,000 to $100,000
Minimum credit requirements: 680
Repayment terms: 24 to 84 months
Time to receive funds: One to seven days
on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Idaho: 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 a younger lender, having opened its doors in 2016. It also has a high rating from the Better Business Bureau. When you get a personal loan to consolidate your debts, Upgrade will pay the third-party lender directly, which is one reason why MoneyGeek rated it high in this area. The lender also processes its loans swiftly and with a soft credit check that doesn't impact your credit score. And by automating your payments, you get a 1% reduction on your monthly payments.
Regardless, the loan is subject to some usage restrictions. That makes the lender unsuitable for those seeking a loan to fund post-secondary education, gamble or invest. The loans may also have a higher annual percentage rate (APR) based on your credit score, making the lender inappropriate for those looking for low-interest rate loans.
Pros
Soft credit check that has no impact on credit scores
Same day funding
Pays third-party creditors directly for debt consolidation loans
No prepayment penalty
Autopay discount

Cons
Use of funds is subject to restrictions
Late fee of $10 and origination fee of 2.9% to 8%
Potentially high APR
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 Idaho: 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
In 2014, Marlette Funding, a financial services firm, launched Best Egg, an online lending platform. Its loans are underwritten by Cross River Bank and Blue Ridge Bank. The Better Business Bureau gave it an A+ rating, while MoneyGeek listed it as the best for home renovation loans. There's no need to be apprehensive about your credit score being affected by the lender's soft credit checks. Those who choose to pay their premiums automatically receive a 0.5% reduction. Paying back loans early does not incur any additional fees.
However, if you're looking for a joint loan or a loan with a co-signer, this lender is not for you. Additionally, there is a $50,000 annual income requirement, which inhibits those with low income from applying.
Pros
Auto payment discount
Soft credit check
Debt consolidation loans paid directly to third-party lenders
No usage restriction on loans
Reports to all the three major credit agencies

Cons
Lafe fee of $15 and origination fee of between 1% and 6%
Minimum income requirement of $50,000
Potentially high APR
Minimum credit score requirement of 700
APR range: 4.99%–35.99%
Minimum/maximum loan amount: $2,000 to $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 Idaho for You

Chamber of Commerce’s personal loan statistics estimate that over 21.1 million American residents owe a combined $143 billion in personal loans. The average amount of personal loan debt in Idaho is $12,562. This is, of course, a generalization that may vary from person to person. Your income, employment record, debt-to-income ratio and credit score are all considered when applying for personal loans in Idaho. However, you must take the following measures to identify the best lender in your state:

Ask Yourself the Important Questions

It is necessary to assess your financial situation and determine how much funds you need as a first step before proceeding. Before you choose a lender and apply for a personal loan, you must think about the following:

How much funds will I need?
How much debt do I currently owe?
What is my credit score?
How much of a monthly payment can I make?
How long do I need the loan?
How soon do I need the funds?
Should I go with a secured or unsecured loan?

Do Your Research

Because each lender has its own set of terms and conditions, it's crucial to understand them. You must compare the features of all the lenders you’re considering to identify the one that best meets what you’re looking for. However, do not go with a lender who readily offers you more than you need. Always assess how the loan's term affects your entire financial health in the long run. Long-term loans will ultimately be more expensive. The duration of your loan should not conflict with any long-term financial goals you may have.

In some cases, lenders may do a hard credit inquiry, which can reduce your credit score. In the event that you can't afford to have your credit score decrease any more, find a lender that only performs soft credit inquiries. You must note that the recommendations we make are general, and we encourage that you do considerable research into your options.

Wait

With so many features, fees, rates and offers to compare from each lender, you could be at a loss on who to choose. It's prudent to wait a day or two before choosing a lender. A personal loan is a major financial commitment. You want to be assured that you have made the right decision.

Read the Fine Print

People often forget about small things when they do research on personal loans and lenders. Also, some lenders may charge extra fees that you don't know about until after you apply for a loan. Consider all fees and charges, including prepayment penalties and late fees, before making a final decision on the lender. Apart from that, be aware of any collateral requirements or restrictions on the loan's use. A closer look at the fine print may reveal something you didn't know. These seemingly little details might end up saving you a significant amount of money over the long term.

Apply

It's time to apply once you've done your research, read the tiny print and waited to decide. You should be confident in your lender's selection at this time, and you should be prepared to apply with the necessary details handy. The loan application process will request that you to submit proof of identity, address, income-related details and more. It is prudent to contact or personally visit the lender if they are accessible, so you can gain a better understanding of the loan and to clear up any questions you may have.

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

Your loan application may be turned down for reasons like having a bad credit score, not meeting the lender’s minimum income requirements, exceeding the maximum debt-to-income ratio or for inaccurate information in the application. Call the lender and find out why they rejected you and what you can do to improve your chances of getting a loan. For instance, you may increase your chances of getting a loan by reducing your loan term or cutting the loan amount. Getting a loan with a co-signer or going for a collateral-based loan might also be helpful in this case. The best thing to do is to wait until you've fixed the problem that caused your rejection before reapplying for a personal loan.

After a rejection, some people turn to a payday loan, which is a modest loan of up to $500 with high rate of interest, and it must be repaid on the following payday. Paying on time, however, will not boost your credit score. If you don't make your payment by the due date, you may be liable for the outstanding balance and any interest. For one thing, your credit will be greatly affected if a collection agency becomes involved due to non-payment.

Frequently Asked Questions About Personal Loans in Idaho

Your particular circumstances, as well as various credit and income considerations, will decide the best personal loan lender in Idaho for you. We've gathered a list of some of the most frequently asked questions about personal loans in Idaho 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

LightStream. "Loans for Practically Anything." Accessed March 7, 2022.
Upstart. "Personal Loans." Accessed March 7, 2022.
Upgrade. "Personal Loans." Accessed March 7, 2022.
Best Egg. "Personal Loans." Accessed March 7, 2022.
Best Egg. "Frequently Asked Questions." Accessed March 7, 2022.
Forbes. "What Is A Payday Loan?." Accessed March 7, 2022.
Chamber of Commerce. "Personal Loan Statistics." Accessed June 8, 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.