Honest Loans Review: Personal Loans

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  2. Honest Loans Review: Personal Loans

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honest loans review

Honest Loans is a fast online personal lending connection service. The personal loans they offer can vary widely, meaning they are suited for a wide variety of borrowers. In this Honest Loans review, we will go over the personal loans they offer and assess any use they may have for you.

Honest Loans is not a lender, strictly speaking. What Honest Loans does is assess your finances and pre-qualify you for the lenders they work with. In this way, they simply provide a faster and simpler process for finding a personal loan. If you are having trouble deciding on the ideal lender, Honest Loans’ services were created with you in mind.

Special Qualities & Features

Lender Matching

Honest Loans matches borrowers with personal loans. This simple service is very useful if you have any difficulties finding the best lender on your own. After a few simple steps, Honest Loans will do most of the hard work involved in finding a loan for you. You just need to provide some simple information, then you will be shown all of Honest Loans’ partners that are willing to give you a loan.

Because of the nature of the Honest Loans platform, you can find the best rates you can qualify for. If your credit score is high and your income is stable, you can get a fast personal loan with an APR of just 6%. If your credit score is very low, you should still be able to get a loan. The only downside is that the bad credit loans available from Honest Loans can rise as high as 35.99%. In any case, the trusted lenders that Honest Loans works with will have some good rates to offer you, relative to the rates you can get with your credit score and income. There are just too many specific loans to go over for one Honest Loans review. The platform doesn’t offer guaranteed approval, but it can match you with a bad credit loan quickly.

Small Minimum Loan Size

If you need a fast personal loan for a short financial hiccup, Honest Loans can match you with a small loan. You can often get loans of just a few hundred dollars. Honest Loans partners’ terms vary by state due to the differences in lending laws. In most states, you can get loans of under $400.

Very Large Maximum Loan Size

Likewise, you can get a loan for tens of thousands of dollars through Honest Loans. While maximum personal loan sums vary, you should be able to find personal loans of up to $50,000.

Same Day Personal Loans

Honest Loans offers very fast service. The application process should only take you a few minutes. Once you set up an account, you will have access to funding within one business day. Most of the lenders you will find on the platform can send you money within 24 hours.

Fewer Requirements for Personal Loans

Honest Loans is meant for almost everyone. The minimum requirements for a loan are very lenient and you need little more than a small income to apply. At the same time, Honest Loans can connect borrowers with loans appropriate for high earners with good credit scores.

Honest Loans Review: Pricing & Terms

Because Honest Loans is a matching service, the rates you will find vary widely. APRs on their personal loans range from 5.99% to 35.99%. A high credit score and a stable income will grant you access to their single-digit APR loans.

Loan terms and repayment schedules will also vary. Repayment terms can range from a month to several years.

Do I Qualify?

You probably qualify for at least one of the loans available through Honest Loans. The requirements for Honest Loans are that you are an American citizen that is at least 18 years old. You need to be employed and earning at least $800 per month. If you meet these requirements, you will be able to get a loan on the Honest Loans platform.

There are no minimum credit score requirements for an Honest Loans personal loan. However, you will have your credit score assessed so they can determine your rates.

Factors To Keep In Mind

Partner Lenders

Honest Loans is not a lender. That means that the terms of any loan are determined by the lender you choose through Honest Loans. Honest Loans cannot give you the exact terms of a loan you are matched with. So, make sure to check the terms of any loan you accept. While all lenders on Honest Loans are vetted, each lender will charge their own fees and offer their own repayment terms.

The Last Word : Honest Loans Review

Honest Loans is a trusted and secure matchmaking platform for borrowers and lenders. If you need a fast personal loan, they will do most of your homework for you. However, it’s impossible to assess all the options they offer in one Honest Loans review. So, keep in mind that assessing and accepting the terms of a loan is your responsibility.

If you are having trouble finding the right personal loan, Honest Loans can help. Regardless of your credit score, they should have a loan to match you with as long as you’re employed.

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