Best Personal Loans in Alexandria, VA: Top Lenders & Best Picks for You

Established in 2019, Truist offers multiple lending options to its consumers. It offers personal loans of $3,500 to $50,000.

Truist provides personal loans with low APRs. It can be excellent if you need emergency cash because funds are released promptly. Plus, there are no origination fees or early payment penalties.

That said, Truist has its limitations. For instance, the $50,000 loan limit may not work if you need a lot of money. You can't use your funds for postsecondary education, stocks, bonds or refinancing.

Pros

• Low APR
• Flexible payment terms
• No prepayment penalty
• No origination fee

Upstart was launched in 2012. It uses artificial intelligence to determine eligibility.

Unlike most other companies, you don't need a credit history to qualify for an Upstart loan. This is one of the biggest reasons we ranked this as number one for individuals with bad credit.

However, having fair-to-good credit can help you earn better rates.

Upstart offers $1,000 to $50,000 in personal loans, payable within three to five years. Check rates before applying with Upstart's convenient online prequalification service.

The lender has a comparatively low income threshold of $12,000 for approval.

If you're looking for a low-cost personal loan, this lender might not be the best choice. It charges late and origination fees, and the maximum APR is high.

Pros

• 300 minimum credit score
• Potentially low APR
• Fast funding
• Can lend at least $1,000
• Soft credit check

When it was founded in 2011, Social Finance offered student loans. Since then, it has expanded its range of goods and services. Our study shows SoFi is the top lender for people with good credit.

It can be hard to qualify for SoFi personal loans. However, those who do enjoy flexible limits, competitive rates, few fees and more.

SoFi offers a bigger loan limit than most other lenders: up to $100,000. Additionally, it provides borrowers who lose their jobs with jobless insurance.

This lender doesn't impose origination, late or prepayment fees, saving borrowers money. Borrowers need a minimum credit score of 680, an income of $50,000 and a debt-to-income ratio of 43% to qualify.

Pros

• $100,000 lending capacity
• Flexible payment terms
• 0.25% autopay discount
• No origination and late fees

Upgrade, founded in 2017, provides personal loans in all 50 states. It's MoneyGeek's recommendation for those seeking a debt consolidation personal loan in Alexandria.

Upgrade offers personal loans of $1,000 to $50,000. It settles debts with third parties, simplifying debt consolidation. Additionally, the lender provides loans rapidly, which could be helpful during emergencies.

But Upgrade doesn't hold back on fees. Origination fees can be as high as 8.99%. Additionally, a $10 late fee applies once the 15-day grace period has passed without a payment.

Pros

• Direct payment to creditors
• Quick fund disbursement
• No prepayment penalty
• Low APR
• Allows joint loans

We found that Best Egg is Alexandria's best personal loan provider for home improvement.

The lender makes soft credit checks while evaluating your initial application. There are no fees associated with paying off your loan early, and the APR can be low.

Best Egg can be good for people needing fast funding because it typically pays out the following day. Additionally, Best Egg offers secured personal loans to homeowners.

On the flip side, you might not be eligible for a Best Egg personal loan if your credit score is under 700 or your annual income is less than $50,000. Further, your loan may cost more because the lender has several fees, like origination and late payment.

Pros

• Soft credit check
• No prepayment penalties
• Potentially low APR
• $2,000 minimum loan amount