Best Personal Loans in Seattle, WA

In the overall category, MoneyGeek's best option for personal loans in Seattle, Washington, is LightStream. It is SunTrust Bank's online consumer lending division, which was formed in 2013.

For people in need of large quantities of money, LightStream is ideal. This is because it provides a $100,000 loan with interest rates as low as 4.49% and a payback duration of two to seven years. You can receive cash as soon as the same day of approval, which is ideal for individuals who require finances quickly. The Better Business Bureau has given it an A+ rating and there are no fines for late payments, prepayments or origination.

With that said, LightStream has its fair set of drawbacks as well, such as the fact that it makes a hard credit pull, which might harm your credit score. Additionally, you can't utilize the money you borrow for college or post-secondary education expenses, stock and bond purchases or business-related costs.

The Upstart AI finance platform was founded in 2012. If you need a personal loan in Seattle but are working on repairing your credit, Upstart could be a good fit. Only a credit score of 300 is required, which is among the lowest attainable. Upstart also gives you a grace period before charging you a late penalty fee, although paying on time is still the best option.

However, unlike some other lenders who allow you to borrow up to $100,000, Upstart only allows you to borrow up to $50,000. Origination fees are also imposed. While Upstart has a very low 3.22% minimum APR, its APR range goes all the way up to 35.99%, which is extremely high.

SoFi has been around since 2011 and offers a range of financial products such as personal loans. The company requires a high minimum credit score of 680. SoFi uses soft credit checks, so applying will have no impact on your credit score. When you take advantage of the auto-payment feature, you'll get a 0.25% discount and you won't have to worry about prepayment, origination or late fees because they're not included in your monthly charge.

But the problem is that, apart from having a strong credit score, SoFi also demands a minimum gross income of $50,000. It also does not readily disclose rates on its website, and it can take a few days to get your loan funded.

Upgrade is a fairly new business, having been founded in 2016. If you want to consolidate your debts, Upgrade pays the third-party lenders directly, which contributes to the firm's strong rating in this area. Soft credit checks are used by Upgrade to guarantee that your credit score is not damaged.

Furthermore, those who set up automatic payments receive a 1% reduction on their premiums. Buyers also will not be charged extra for prepaying. However, the lender has a number of limits on how the funds might be used. Their loans may have a high interest rate depending on your credit score, making them potentially inappropriate for consumers looking for a Seattle loan with a low APR.

Best Egg was founded in 2014 and has since built a reputation as a low-cost online loan provider. If you're searching for a local home repair loan, a Best Egg home renovation loan is an excellent option because it doesn't require appraisals and you might get your money in as little as one business day.

It does a soft credit check that will not harm your credit score, and using its automated payment feature will save you about 0.5%. Best Egg also has an A+ rating with the Better Business Bureau and provides borrowers with a mobile app to manage their loans online.

On the flip side, the lender charges up to 6% origination fees as well as roughly $15 if you make a late payment. Best Egg also requires borrowers to have at least a $50,000 gross annual income and to be employed at the time of application in order to be considered.