No. Our pre-qualification form sends your information to our lending partners who will make a pre-qualification decision based on a soft-pull of your credit. When you continue to a lending partners website to finish and complete their application, in most cases the lending partner will use a hard-pull to make a final credit decision.
Yes. You are able to pay off your loan early and in most cases without any prepayment penalties.
Yes! That is one of the many benefits of taking out an unsecured loan. As an example, with an unsecured loan you have the ability to pay a landscape contractor and a swimming pool builder with your funds at your discretion.
Yes. Once you are approved for a certain loan amount, you and the lender will decide a day that the entire loan amount will be deposited into your bank account.
Our lending partners look at a range of criteria to come to their credit decision. Generally speaking, the factors that have the largest impact on the decision are income, current outstanding debt, and credit score / credit report information. Some lending partners may additionally look at an applicants education, job, or other factors to come to their loan decision.
Funding times vary by lender. In some cases you can have the funds deposited directly into your bank account as soon as the same day you are approved. In other cases it may take anywhere from 1-5 days. Once you have the funds, you are able to pay in cash or write a check to your contractor.
After filling out our pre-qualification form, you will receive a response in seconds with pre-qualified offers from our lending partners. Full approval times can vary between our lending partners. In some situations, our lending partners may request verification documents in order to make their decision (ex. pay stub to verify income). In those cases, approval times are dependent on the applicant providing the requested documents.