Best Personal Loans in Irving, TX: Top Lenders & Best Picks for You

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Edited byLilian Mironga
Edited byLilian Mironga

Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Irving, TX

To determine the best personal loan in Irving, MoneyGeek took into account several variables. We looked at each lender's features like the loan amount, the conditions of repayment and the interest rate. The study also included criteria for minimum credit scores, gross income and age that could influence your likelihood of approval.

MoneyGeek also considered companies that provide customer convenience, especially with the application procedure. Some lenders demand that you do it in person, whereas others allow it online. We also identified which companies have mobile apps that customers can use.

Best Overall Personal Loan Lender in Irving: 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

    Truist has been in business since 1872. It is the 10th-largest bank as of June 2021, providing numerous benefits for prospective customers.

    You can borrow between $3,500 and $50,000 and pay it for up to 60 months. MoneyGeek recognized Truist for having the overall best personal loan in Irving.

    Our research shows that the average credit score in Texas is 688. Texan residents — even those with low credit scores — shouldn't have trouble getting their loan applications approved because Truist doesn't require a minimum credit score. Moreover, Truist does not charge origination fees, so you don't have to worry about processing costs if you obtain a loan from this lender.

    Pros

    • No minimum credit score requirement
    • Doesn't charge origination fees
    • Provides 0.5% autopay discount
    • No late and prepayment penalty fees

    Cons

    • Unavailable for new borrowers
    • Hard credit pull
    • Low maximum loan amount
    • Co-signers not allowed
    • Cannot use it to fund postsecondary education
    Truist

Best Personal Loan Lender for Bad Credit in Irving: 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

    Launched in 2012, Upstart is an artificial intelligence lending platform that can be ideal for you if you're looking to apply for a personal loan in Irving but have bad credit. With Upstart, you only need a credit score of 300 to receive a loan — one of the lowest credit score requirements of any lender.

    This lender does have some relatively modest loan amount limits, though. Upstart will only permit a maximum loan amount of $50,000, unlike other lenders that allow you to borrow up to $100,000. It's wise to pay your bills on time each month, even though Upstart may provide you with a grace period. That's because the lender adds a late fee if you are unable to do so.

    Pros

    • Soft credit check
    • Low credit score requirement of 300
    • Low interest rates
    • Grace period before charging late fees

    Cons

    • Personal loans of up to $50,000 only
    • Potentially high interest rates
    • Up to 8% origination fee
    • Website doesn't fully disclose rates
    • Late penalty fees
    Upstart

Best Personal Loan Lender for Good Credit in Irving: 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 2011, SoFi has provided a range of financial products, with personal loans among them. It is MoneyGeek's top pick for the best personal loan in Irving if you have good credit.

    SoFi's credit score requirement is less than other lenders, considering that you can borrow up to $100,000 in loans.

    SoFi, however, requires you to have a gross income of at least $50,000 to qualify for a loan. Borrowers can utilize the funds for different expenses; they are typically granted a few days after applying for a loan.

    Pros

    • No origination, prepayment or late fees
    • Conducts soft credit pull
    • Loans only up to $100,000
    • Autopay discount of 0.3%
    • Offers mobile app for loan management

    Cons

    • High credit score requirement
    • Co-signers not allowed
    • Gross income requirement of $50,000
    • Restrictive usage of funds
    SoFi

Best Personal Loan Lender for Debt Consolidation in Irving: 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

    Founded in 2016, Upgrade is a neobank that conducts all of its business only online. The lender is a relatively recent competitor to the personal loan industry in Texas. MoneyGeek named Upgrade as the best personal loan in Irving for debt consolidation.

    Although you won't be able to use your loan with Upgrade for things like investments and paying for postsecondary education costs, it is still a great choice if you want to use your personal loan to consolidate debt.

    With Upgrade, you can only borrow up to $50,000, but you just need to have a credit score of 560 to be considered.

    Pros

    • Conducts soft credit checks
    • Offers discounts for automatic repayment
    • In-person and online application
    • Doesn't charge prepayment or late fees
    • Smartphone app for loan management

    Cons

    • Moderate credit score requirement
    • Maximum loan amount of only $50,000
    • Restricts usage of funds
    • Exclusive to employed applicants
    Upgrade

Best Personal Loan Lender for Home Improvement in Irving: 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, Best Egg was established in San Antonio, Texas. The company has gained widespread recognition as an affordable online lender ever since. Best Egg is a reliable option if you are in good financial standing and want a personal loan in Irving for home upgrades.

    With Best Egg, an automatic payment system can earn you a 0.5% discount on the interest rate. However, you could incur late fees in addition to origination fees of up to 6%.

    It's important to note that Best Egg needs applicants to have a minimum annual gross income of $50,000 and to be in the workforce.

    Pros

    • Soft credit pull
    • Provides autopay discount
    • Loan disbursement within a day
    • In-person and online loan applications
    • Accessible rates disclosed online

    Cons

    • High credit score requirement
    • High maximum APR
    • High origination fees
    • Maximum loan amount of $50,000
    • Minimum income requirement of $50,000
    Best Egg

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

You have more financial freedom with a personal loan because you can use it for different purposes. Texas has an average personal loan debt of $15,505. Before you finalize your loan, verifying loan restrictions with your lender is vital since some have limitations on how you can use the funds.

Before proceeding any further, you must consider certain factors like your monthly income, outstanding obligations and credit score. MoneyGeek outlines actions to take before choosing to apply for a personal loan in Irving.

1
Ask Yourself the Important Questions

To make better financial decisions, take a step back and ask yourself some important questions:

  • What do you need the money for and how much do you need? A personal loan is a smart solution to help pay for unexpected costs, complete home improvements or buy an appliance.
  • What is your credit score? Before approving your application, all lenders look at your credit score. Your credit standing may limit your alternatives.
  • With your current income, can you afford the monthly payment? It's best to have a long-term perspective. Failure to make payments will result in late penalties and affect your credit rating.
  • Do you currently owe any money? Adding another loan to your list might not be the best idea if you're already paying off other debts.
2
Do Your Research

Never undervalue the importance of gathering data. Make sure you consider issues that will impact you in the long run. For an accurate estimate of your monthly payments, compare lender rates and get estimates. Keep in mind that you must maintain this for two to four years. Make sure you are free to utilize the money for what it is intended for, as some lenders have limits regarding how you spend the funds.

Although MoneyGeek's guide offers insightful advice and lists the top lenders for various situations, you might be looking for something we haven't addressed. You can find lenders who best suit your needs by conducting your own research.

3
Wait

Once you have all the data you need, give it a day or two before reviewing it. It's more likely that you'll see the prospect of obtaining a loan more objectively. Although choosing a lender right away can be tempting, you risk falling prey to confirmation or recency bias.

A personal loan, regardless of its size, is a commitment. If you're unsure that you can fulfill all of the obligations that come with it, don't become involved. You ought to be able to reduce your list of potential lenders to one or two after revisiting it.

4
Read the Fine Print

You ought to be able to narrow down potential lenders to one or two after revisiting the offers.

It's time to read the fine print on your provider's agreement. Pay attention to details like origination or early payback fees since they could add to your expenses. Some lenders may impose fees if you decide to pay off your loan early.

5
Apply

The next step is to apply for your loan once you are confident in your choice of lender and know the requirements. Most lenders typically ask for proof of identification, income documentation and address confirmation. You can choose to apply for your loan online if that is an option. It shouldn't stop you from calling or going to a provider's office if that's how you feel more at ease.

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

It is not the end of the story if a lender declines your loan application. This occasionally has to do with your low credit rating or income.

MoneyGeek advises contacting your lender to find out why they denied your loan. Ask whether there is anything you can change about the terms of your loan. Perhaps lowering the loan amount or cutting the repayment period can give you a different result.

You may opt to apply for a loan elsewhere if you can't persuade the lender to change its decision. But it's generally preferable to concentrate on raising your profile. Determine what you need to do before your next application using the information your lender provided.

A payday loan could sound appealing if you need money right away, but it's usually not a wise option. Such loans frequently have outrageously high-interest rates and short payback terms.

Frequently Asked Questions About Personal Loans in Irving

The best personal loan company in Irving for you will depend on your credit, income and unique needs. To help make an informed choice, here are some of the most frequently asked questions about personal loans in Irving.

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

Our Personal Loan Methodology

METHODOLOGY

Using more than 35 individual data sets, MoneyGeek evaluated over 30 personal loan providers across six key areas: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

We considered various factors under each ranking criterion that we believe are essential when selecting a personal loan lender. These include APR ranges, maximum loan amount, minimum credit score, minimum income amount, application costs and disbursement time.

MoneyGeek values you as our client, so we also factor in services provided by each lender — like prequalification, alternate payment options, availability of mobile apps, customer service reputation, convenience and business ratings.

After careful analysis and computation, we make our selections with your best interest in mind. MoneyGeek's professional advice on personal loans aims to help you choose the lender that best meets your financial objectives.

sources
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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.