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

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Edited byAliha Strange
Edited byAliha Strange

Updated: December 28, 2023

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

Getting a personal loan is a smart move if you require more money. MoneyGeek has compared loan amounts, payback terms and interest rates from more than 30 lenders to determine which personal loan in Pasadena is the best.

Additionally, other criteria can affect your loan eligibility, like your income status, work experience and credit score. MoneyGeek has also looked into the user-friendly features that these lenders offer to make the loan process more accessible.

Best Overall Personal Loan Lender in Pasadena: 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

    Since 1872, Truist has been providing prospective consumers a wide range of perks. MoneyGeek named Truist as the overall best personal loan in Pasadena. Borrowing amounts range from $3,500 to $50,000, with up to 60-month repayment terms available.

    Truist has a zero-point minimum credit score requirement, so Pasadena residents with bad credit should have no trouble being approved. The personal loans offered by the lender are unsecured. Thus, no security is required to obtain the funds. Since Truist doesn't charge origination fees, you won't have to worry about processing costs if approved for a loan.

    Pros

    • A+ BBB rating
    • No late, origination or prepayment fees
    • Quick funding
    • 0.5% autopay discount
    • Provides smartphone app

    Cons

    • Runs hard credit inquiry
    • Restrictive fund usage
    • Low maximum loanable amount
    • Not offered to new borrowers
    • Co-signers not allowed
    Truist

Best Personal Loan Lender for Bad Credit in Pasadena: 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, founded in 2012, finances loans using artificial intelligence. Its personal loans are available for various purposes, including debt consolidation, home improvements and medical costs. It is MoneyGeek’s best personal loan for those with bad credit in Pasadena.

    While many lenders place a strong emphasis on credit ratings, Upstart also takes into account your income and employment status. The credit score requirement is exceptionally low at 300.

    On the other hand, Upstart has some relatively modest loan amount caps. Upstart will only permit a maximum loan amount of $50,000, unlike some other lenders that permit borrowing amounts of up to $100,000.

    Pros

    • A+ rating from the BBB
    • Runs soft credit inquiry
    • Fixed interest rates
    • Low credit score requirement
    • 15-day grace period before a late penalty

    Cons

    • Loans are limited to $50,000
    • 1% to 5% origination fee
    • Doesn’t disclose rates online
    • No autopay discount
    • DTI limit of 45% to 50% depending on the state
    Upstart

Best Personal Loan Lender for Good Credit in Pasadena: 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

    SoFi, a 2011 startup, is a reliable option for anyone seeking personal loans with high to excellent credit and a yearly income of at least $45,000. For those with good credit, MoneyGeek recommends SoFi as the best personal loan lender in Pasadena.

    SoFi's credit score requirement isn't much higher than other lenders. SoFi carries out soft credit checks, so your credit score is unaffected. SoFi offers extended payment periods of up to 60 months, personal loans of up to $100,000 and a fixed APR (with all discounts). Fortunately, origination, prepayment and late fees are not a concern for SoFi borrowers.

    Pros

    • A+ BBB rating
    • 0.25% autopay discount
    • No origination fees
    • Loan amounts of up to $100,000
    • Runs soft credit checks

    Cons

    • Funding may take days
    • Gross income requirement of $45,000
    • Good-to-excellent credit score requirement
    • Co-signers not allowed
    • Doesn’t disclose rates on the website
    SoFi

Best Personal Loan Lender for Debt Consolidation in Pasadena: 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

    As a neobank, Upgrade conducts all of its business online. The company joined the Texas personal loan market in 2016, making it a relatively new competitor. The best personal loan in Pasadena for consolidating debt is Upgrade, according to MoneyGeek’s analysis.

    This lender accepts candidates with credit scores of at least 560 and has no minimum income criteria. It provides loans of up to $50,000 with customizable repayment plans of 36 to 60 months. People who opt to pay off their loans early are not subject to fines from Upgrade. Additionally, Upgrade provides a discount if you set up autopay. A 15-day grace period is also offered by Upgrade before late fees of up to $10 are assessed.

    Pros

    • A+ BBB rating
    • Runs soft credit checks
    • No prepayment charges
    • 0.5% autopay discount
    • Offers joint loans

    Cons

    • Restrictions on fund usage
    • Doesn’t allow co-signers
    • Charges origination fee
    • Not offered to new or no credit borrowers
    • Imposes a $10 late fee (after a 15-day grace period)
    Upgrade

Best Personal Loan Lender for Home Improvement in Pasadena: 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

    As the best personal loan in Pasadena for home improvement, Best Egg allows consumers to obtain loans between $2,000 and $50,000. Some of Best Egg's borrowers receive their money within a day, although the release of funds may take up to three days.

    A borrower must have a credit score of at least 700, verifiable income, identity, address and DTI under 30% approved for a Best Egg personal loan. Therefore, folks without long credit history or steady work may be able to discover better terms with alternative lenders.

    Pros

    • A+ rating from the BBB
    • Runs soft credit checks
    • Quick online application
    • 0.5% autopay discount
    • Easily accessible rates on the website

    Cons

    • Low loan amounts
    • High maximum APR
    • Requires a minimum credit score of 700
    • New or no credit borrowers cannot qualify
    • DTI under 30%
    Best Egg

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

Texas has an average personal loan debt of $15,505. Given that you can use this loan for various purposes, it affords you financial flexibility. Some lenders do, however, limit how you can utilize the borrowed money.

Before moving further, consider your monthly income and any outstanding obligations in addition to your credit score. The analysis by MoneyGeek outlines actions to follow before getting a personal loan in Pasadena.

1
Ask Yourself the Important Questions

Making better financial decisions can be facilitated by taking a moment and asking yourself some important questions.

  • What is your credit standing? Before approving your application, all lenders look at your credit score. Your credit standing may limit your alternatives.
  • What do you need the money for and how much do you require? A personal loan is a smart solution for paying unexpected costs, buying an appliance or completing home improvements.
  • With your current income, can you afford the monthly payment? Making on-time payments will help avoid late penalties and a decline in your credit rating.
  • Do you currently owe any money? Adding another loan to your responsibilities can become unmanageable if you're already paying off other debts.
2
Do Your Research

Never undervalue the importance of obtaining data. Make sure you consider issues that will impact you in the long run. To accurately estimate your monthly payments, compare rates and get estimates. Ensure your lender has no funds usage restrictions preventing you from using the money as intended.

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 suit your needs by conducting personal research.

3
Wait

Assuming you have all the data required, take a moment. It can be tempting to choose a lender right away. A personal loan is a long-term commitment.

Allowing some time to pass also enables you to evaluate your choices objectively. You ought to be able to reduce your list of potential lenders to one or two after reviewing your options.

4
Read the Fine Print

It's time to read the fine print when you're nearing the finish of your search. Pay attention to the minute details, including origination and early payback fees, since your awareness of these terms could help you save money in the long run. Specific lenders will impose fees if you choose to pay off your loan early. So make sure to understand the fine print fully.

5
Apply

You have done your due diligence once you’ve reached this step. Once you're confident in your chosen lender and understand the criteria for submission, apply for your loan.

Most lenders want income documentation, proof of identification and address confirmation during the application procedure. You can apply for your loan online if that is an option. Alternatively, you can contact them or apply in person at one of their branches.

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

Don't be discouraged if your application for a personal loan is rejected. For various reasons, Pasadena lenders reject personal loan applications. Typically, it has to do with your credit rating, your income or having too much debt already.

MoneyGeek advises contacting your lender to find out the precise reason they denied your loan. Ask whether there is anything you can change about the terms of your loan. Lowering the loan amount or cutting the repayment period can produce different results.

You always have the choice to apply for a loan elsewhere if it’s not the right fit. But it's generally preferable to concentrate on raising your profile. Determine what you need to do before applying for another loan using the information your lender provided.

Getting a payday loan could sound appealing if you need money immediately, but it's usually not a wise option. It has several drawbacks. These loans frequently feature outrageous interest rates and short payback terms.

Frequently Asked Questions About Personal Loans in Pasadena

The ideal personal loan in Pasadena will depend on your income, credit and unique needs. To make an informed decision, take a look at some of the most frequently asked questions concerning personal loans in the area.

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

Our Personal Loan Methodology

MoneyGeek determined the best personal loan in the state by evaluating over 30 lenders using 35+ separate data points in six crucial categories: accessibility, lender transparency, customer service, consumer friendliness, loan affordability and flexibility.

Some of the individual data elements we looked at for each rating category included the APR ranges, loan amounts, income requirements, application costs, credit score requirements and disbursement periods.

MoneyGeek considered each lender's track record for offering outstanding service and any supplementary tools that can speed up the process for you because we value you as a consumer.

Finally, we offer recommendations that, in our expert opinion, will work best for you. You can use our loan recommendations and professional guidance to help you choose a lender so that you can make wise financial decisions.

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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.