Best Personal Loans in Irving, TX: Top Lenders & Best Picks for You
Updated: December 28, 2023
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- The Best Overall Personal Loan Lender in Irving
- The Best Personal Loan Lender for Bad Credit in Irving
- The Best Personal Loan Lender for Good Credit in Irving
- The Best Personal Loan Lender for Debt Consolidation in Irving
- The Best Personal Loan Lender for Home Improvements in Irving
- How to Choose the Right Personal Loan for You
- Frequently Asked Questions About Personal Loans in Irving
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
Best Personal Loan Lender for Bad Credit in Irving: Upstart
Best Personal Loan Lender for Good Credit in Irving: SoFi
Best Personal Loan Lender for Debt Consolidation in Irving: Upgrade
Best Personal Loan Lender for Home Improvement in Irving: 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.
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.
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.
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.
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.
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.
MoneyGeek researched and compared top lenders and found that Truist offers the best personal loans in Irving overall. Keep in mind that your unique needs and profile needs may determine which lender is appropriate for you.
Upstart is notable for having the lowest interest rate in Irving.
You can use your personal loan in Irving for different things, including travel expenses or vacations. However, look out for any limitations the lenders might have.
Yes. Most lenders in Irving typically allow you to use a personal loan for home improvement. MoneyGeek found that Best Egg is the best choice for house renovations.
The limitations on how you can use your personal loan vary among lenders. For instance, some may restrict you from using funds to pay for college tuition, make investments, gamble or engage in other unlawful activities. MoneyGeek advises requesting a comprehensive list of restrictions from your lender.
In Irving, your lender sets the maximum loan amount. Some will let you borrow up to $100,000, whereas others will only allow you to borrow $50,000 or even less.
Your lender in Irving will determine how quickly you receive your personal loan. It can be long as two days or as quick as the same day.
You can choose to pay your loan early but check with your lender if there are any fees associated with it.
Our Personal Loan 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
- Marlette Funding, LLC. "About Best Egg." Accessed September 12, 2022.
- Marlette Funding, LLC. "Hassle-Free Personal Loans." Accessed September 12, 2022.
- Social Finance, Inc. "Low Rates. No Fees. Personal Loans Made Easy." Accessed September 12, 2022.
- Truist. "Personal Loans." Accessed September 12, 2022.
- Truist. "Who We Are." Accessed September 12, 2022.
- Upgrade, Inc. "Personal Loans up to $50,000." Accessed September 12, 2022.
- Upstart Network, Inc. "This Is Upstart." Accessed September 12, 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
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