Learn How to Apply for LendingPoint Personal Loans

What do I need to know before applying for a loan with LendingPoint Personal Loans?

LendingPoint offers personal loan plans ranging from $2,000 to $36,500, with fixed APR rates starting at 7.99% to provide the best possible conditions for the public!

Although certain states might impose an origination fee, all expenses are revealed prior to signing the contract, guaranteeing clarity regarding monthly payments.

LendingPoint provides a cost-free application process, allowing clients to review rates, monitor credit scores, and manage expenses, income, and debts.

Regarding interest rates, LendingPoint offers choices varying from 7.99% to 35.99% APR, which depend on factors such as the loan amount, duration, and the annual income of the borrowers.

The applicant’s credit score plays a significant role in determining the conditions for interest rates during repayment, granting more favorable terms to individuals with higher credit scores.

The application procedure is entirely web-based, with the alternative of receiving telephone assistance from financial specialists.

Upon loan approval, the customer will receive communication containing all pertinent details regarding payment dates and amounts.

The repayment plans, in fact, range from 24 to 72 months, allowing for a period of up to 6 years to settle the amounts.

After approval and contract signing, you can receive the funds in your account within one business day.

So, if you believe that LendingPoint can assist your finances, continue reading the article with all the information.

Who can Apply?

LendingPoint has clearly outlined eligibility requirements on its platform, reflecting current trends in the U.S. market.

In this context, it’s crucial that the applicant is either a U.S. citizen or a foreign national with proper documentation and a valid permanent residency visa.

Consequently, proof of active identification documents and a social security number are necessary.

Additionally, applicants must demonstrate a minimum annual income of $35,000 from reliable sources such as employment, retirement, or government-provided benefits.

To receive the funds, prospective clients must possess a personal bank account in their own name.

Another essential criterion for securing a personal loan is the individual’s credit history and score; those with lower scores may encounter difficulties in approval.

Lastly, LendingPoint loans are not available in Nevada and West Virginia. Apart from this restriction, there are no other significant barriers to applying with LendingPoint.

How do I Apply for a loan with LendingPoint Personal Loans?

LendingPoint offers a user-friendly link to access the application form conveniently on its platform.

Once on the form, applicants are required to input their full name, desired loan amount, and the purpose of the funds, selecting from a range of options such as debt consolidation, medical expenses, weddings, and travel, among others.

Following this, details such as a phone number, email address, complete physical address, and social security number will be requested.

Furthermore, banking information and particulars about monthly income and general expenses need to be provided.

Throughout the process, applicants may be asked to furnish documents such as proof of identity and social security, recent pay stubs, and bank statements.

Apart from the online form, customers can reach out to the company via phone at (888) 969-0959.

More Details

Should the application be declined, applicants will receive an explanation via email, enabling them to resolve any issues before reapplying directly with the company.

Furthermore, customers have the opportunity to opt for Autopay, which allows for automatic deductions directly from their account, thus avoiding any issues stemming from forgetting to make timely repayments.

Another notable aspect of the brand is that, after six months of consistent payments, LendingPoint may reassess rates and potentially lower monthly loan interest payments.

However, it remains crucial to carefully review and comprehend all loan terms, adjusting to individual circumstances and financial capabilities in each instance.

Want to learn about another option?

Rocket Personal Loans offers plans with even higher values, reaching up to $45,000 for the American audience.

And if you want to learn more about Rocket, you can check out the dedicated article to understand how to apply.

Written by

Gabriel Gonçalves