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Best Personal Loans in Fayetteville, NC

Personal loans can help you cover large purchases, consolidate debt or fund emergency expenses. According to MoneyGeek’s data, the average personal loan debt in North Carolina is $14,383, with interest at about 8.72%.

Your credit score is important to lenders. The average credit score across the state is 718, which is considered good. Other factors that lenders may look at include your income, employment history and debt-to-income ratio. Below we list lenders that cater to different financial profiles, but the best personal loan in Fayetteville for you depends on your unique situation.

Last Updated: 6/7/2022
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MoneyGeek’s Pick for Best Personal Loan Lender in Fayetteville: Truist

To find the top-rated lenders in Fayetteville, MoneyGeek examined more than 30 factors, including interest rates, origination fees, repayment terms, late fees, BBB rating, loan amount limits and more.

Overall, the best personal loan lender in Fayetteville is Truist. However, the lender you choose should be based on how it fits your personal needs and preferences.

Best Overall Personal Loan Lender in Fayetteville, NC: 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 Recieve Funds

    on Truist Website

Best Personal Loan Lender for Bad Credit in Fayetteville, NC: 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 Recieve Funds

    on Upstart Website

Best Personal Loan Lender for Good Credit in Fayetteville, NC: 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 Recieve Funds

    on SoFi Website

Best Personal Loan Lender for Debt Consolidation: 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 Recieve Funds

    on Upgrade Website

Best Personal Loan Lender for Home Improvement: 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 Recieve Funds

    on Best Egg Website

How to Choose the Best Personal Loan Lender In Fayetteville for You

In North Carolina, the average personal loan debt is $14,383. Unsecured personal loans can be handy for large expenses, whether planned or otherwise. The average personal loan interest rate is 8.72%, much lower than credit card or line of credit APRs. Before applying for a personal loan, it’s wise to consider factors like your current credit score, income, debt and other financial responsibilities.

MoneyGeek has listed the following steps so that you get a headstart when getting a personal loan in Fayetteville.

1

Ask Yourself the Important Questions

Before researching personal loan providers, assess your current situation. Remember that loans are a long-term commitment, so it’s important to make the best financial decision possible. Consider your other financial obligations to ensure that you can pay off your loan within the given term.

You also need to consider a lender’s qualifications or requirements. Before deciding on a lender, answering the following questions can help you save time and money:

  • How much funding do I need?
  • What is my credit score?
  • Can I afford the monthly payment?
  • How much debt do I already have?
2

Do Your Research

When it comes to personal loans, a common term ranges from 2 to 4 years. Before committing to making years of monthly payments, it’s in your best interest to shop around and compare rates and requirements between lenders.

Most personal loan lenders have specific requirements regarding employment, income and debt-to-income ratio. All will consider your credit score and history. Some lenders conduct hard credit checks that influence your credit score, while others perform soft credit inquiries.

MoneyGeek compiled key details about personal loans in Fayetteville to help in your search. Our findings are based on an average consumer, and you may have different needs and preferences. Performing your own research can lead you to the best lender for your financial profile.

3

Wait

After creating a list of your desired lenders, wait a day or two. Taking a step back and giving yourself time to think will lead to a more objective decision. While waiting, reassess your needs and financial commitments. It’s alright to take your time, especially since a personal loan is a big responsibility.

4

Read the Fine Print

MoneyGeek recommends taking a closer look at a lender’s fees and rates before you apply. With personal loans, the small details matter. Aside from thoroughly reading the fine print, you can ask your lender directly about origination and administration fees, prepayment penalties, late fees or any other charges. Doing so can help you save money in the long run.

5

Apply

Once you choose a lender you prefer, you can apply for your personal loan. Lenders usually need your identification, address verification and income details for your application. Depending on what is available, you can either apply online or visit the lender’s office to apply in person. You’re free to choose which option works best.

What To Do if You Can’t Get a Personal Loan in Fayetteville, NC

Your personal loan application may be denied for many reasons. The most common include an unsatisfactory credit score, income, debt-to-income ratio or employment history.

Ask the lender why your application was declined. You might be able to work with them and tweak your application by decreasing the loan amount, for example. If you’re in a position to do so, you might consider asking if a cosigner or joint loan application would make a difference. If that doesn’t work out, consider applying for a loan with another lender.

Even if it’s tempting to get a payday loan, we strongly advise against it. The two biggest disadvantages of payday loans are their extremely high interest rates and short repayment terms.

Frequently Asked Questions About Personal Loans in Fayetteville, NC

MoneyGeek compiled the most commonly asked questions about personal loans in Fayetteville. Keep in mind that the best personal loan provider for you will vary based on your credit score, income, financial history and more.

Our Personal Loan 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 determined 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.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’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, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings for our coverage of credit card products. MoneyGeek and CardRatings may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.