Based on the information provided in the video, here are the four best personal loans in the United States:
1. **SoFi (Social Finance, Inc.)**:
– Loan Amount: Up to $100,000
– Credit Check: Minimum credit score of 650 required
– Refund Time: Payment terms from 24 to 84 months
– Pros: No fees for personal loans, flexible payment terms, same-day financing, available in 49 states
– Cons: Loans under $5,000 not offered, high minimum credit score requirement
2. **Discover Personal Loans**:
– Loan Amount: $2,500 to $35,000
– Credit Check: Good credit history required (at least 600 points)
– Refund Time: Payment terms from 36 to 84 months
– Pros: Competitive rates, can be used for debt consolidation, no restrictions on loan usage
– Cons: Minimum annual income requirement of $25,000, $39 fee for late payments
3. **Upgrade**:
– Loan Amount: $1,000 to $50,000
– Credit Check: Eligible borrowers with credit scores as low as 550 can be approved
– Refund Time: Payment terms from 24 to 60 months
– Pros: Suitable for small loans or those with no credit history, next day financing available, low minimum credit score requirement
– Cons: Origination fees (2.90% to 8%), no option to refinance personal loans
4. **Rocket Loans**:
– Loan Amount: $2,000 to $45,000
– Credit Check: Good and bad credit applicants accepted
– Refund Time: Payment terms of 36 or 60 months
– Pros: Fast financing available, same-day funds, available to U.S. citizens or permanent residents
– Cons: Origination fees (1% to 6%), limited to payment term options of 36 or 60 months
It’s important to note that interest rates on personal loans can vary depending on factors such as credit score, income, and debt-to-income ratio. Borrowers with higher credit scores typically receive lower rates.