Personal Loan Pro Is It Legit

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With good reason, personal loans have grown in popularity as a means of borrowing money. A personal loan can be used for anything you like, including debt consolidation, home improvements, and wedding expenses. Furthermore, the best personal loans frequently have interest rates that are lower than those charged by credit cards or other high-interest consumer debt, such as payday loans.

However, even though taking out a personal loan to borrow money makes sense in many circumstances, you’re still dealing with a creditor and will have to pay interest. In order to avoid paying more than necessary, it is crucial to shop around for the best personal loan at a competitive rate.

Fortunately, there are resources like Personal Loan Pro that can assist you in learning how to apply for a loan from a lender that deserves your business. You can apply once through Personal Loan Pro to be matched with a lender who offers the kind of financing you need. If you are satisfied with the terms proposed, you can proceed with the borrowing process after receiving loan quotes without having your credit affected.

Here is everything you need to know if you want to use Personal Loan Pro to help you compare financing options.

Request quotes from several loan companies without letting your credit score suffer or having to go through a lot of trouble.

What is Personal Loan Pro?

When you’re interested in borrowing, Personal Loan Pro is a loan comparison website that enables you to find funding quickly. You won’t pay anything to use the website because lenders, not borrowers, are its source of income. Additionally, it works with a broad network of various installment loan providers, giving you a variety of options for where to get your money.

It is important for borrowers to understand that Personal Loan Pro is not a lender and does not determine loan eligibility or interest rates. Additionally, there is no assurance that if you apply for a personal loan, the lender will approve it. But the good news is that the website does reveal its network of partners, so when you submit your financial information, you’ll at least know where your loan is being shopped around.

Shopping for a loan can be made simpler and less time-consuming by using Personal Loan Pro because you can access loan quotes from all of the lenders in its network without having to visit numerous companies’ websites separately to apply.

What Personal Loan Pro can offer you

You can obtain quotes from several loan providers using Personal Loan Pro without having your credit affected and without having to deal with a lot of hassle. To be matched with loan providers who the website’s algorithm believes would be a good fit, you can simply go to the website, choose the purpose of your loan, and answer a few straightforward questions.

Your credit rating, the amount you want to borrow, and the timeframe for repayment are just a few of the many variables that will affect the loan terms you are offered. The following are some typical characteristics of loans obtained through Personal Loan Pro:

Loan type(s)	Personal loans
Typical loan amounts	$1,000 to $50,000
Typical APR	2.49% to 35.99% (as of July 6, 2022)
Length of repayment period	Two to 180 months
Credit score required	Varies

What we like about Personal Loan Pro

There are many things to appreciate about Personal Loan Pro, but the following are some of its greatest benefits:

You can quickly compare offers from multiple lenders: This is the key feature of Personal Loan Pro and the main reason to use the site. When you submit your details, Personal Loan Pro matches you to different loan providers that you could potentially qualify for funding from. Youre able to get quotes and compare terms from multiple lenders all in one place instead of having to directly visit the websites of dozens of providers to find the best rates and terms.

Personal Loan Pro makes the list of lenders in its network available: You can visit its Network Partners page to see the different partners the website works with. The site also clarifies that it does not give you quotes from every lender available, so it’s upfront about its limitations. That said, some of the companies that Personal Loan Pro works with include SoFi, LendingClub, and Prosper.

Your credit wont be affected when you submit an application: Some lenders start with a hard credit check, which means an inquiry goes on your credit report and stays for two years. Too many hard credit checks can have an adverse impact on your credit score. You dont have to worry about this happening when you submit your initial information to Personal Loan Pro, since it begins with performing a soft credit check — although your credit will still be affected by a hard credit check if you decide to go through with getting the loan.

You have lots of flexibility in how much you can borrow: With Personal Loan Pro, you could borrow as little as $1,000 or as much as $50,000. It’s not uncommon for lenders to have higher minimum or lower maximum loan limits, which means you may not be able to borrow the total amount that you need. In that light, Personal Loan Pro gives you much more flexibility than a typical service.

What Personal Loan Pro could improve

However, there are some areas where Personal Loan Pro can be improved.

Theres no guarantee that youll get approved for a loan at the offered rate: When you submit an initial application with Personal Loan Pro, you get access to loan offers. But if you want to move forward on a particular offer, you still have to complete the full application process with that lender. Depending on the lenders process and your financial situation, theres a chance you could end up being denied for the loan or offered different terms than you initially received.

Limited information is available on Personal Loan Pro’s website: Personal Loan Pro doesnt provide details about how it chooses which lender quotes to display or how many different loan options it may offer you. It also provides only limited information about who is likely to qualify for financing. It does not, for example, specify the minimum credit score required to qualify for a loan with one of its partner lenders.

How to open a Personal Loan Pro loan

Although Personal Loan Pro does not offer loans directly, you can use the website to start the loan application process with one of the financial institutions in its network. To do this:

Click here to go to the Personal Loan Pro website

Specify how you plan to use the loan funds, selecting the appropriate option from a pull-down menu. Choices include credit card debt consolidation, major purchase, home improvement projects, starting a business, or a wide variety of other common reasons for taking out personal loans

Click on the “Get Started” button

Type in the amount of cash youd like to borrow

Estimate your credit score range, choosing from among excellent, fair, good, or poor

Indicate your employment status by selecting whether you work full time, part time, are self-employed, are unemployed, are in the military, or are retired

Type in your annual income

Indicate how often you get paid by selecting weekly, every two weeks, monthly, or other

Specify whether you own or rent your residence and input the ZIP code where you live

Input your street address

Provide your email address

Provide your first and last name

Provide your date of birth

Provide your phone number

Specify whether you are in the military now or are a veteran

Provide your Social Security number

After completing this process, you’ll receive information about loans that might be a good fit for you as well as a rate quote.

How long does it take to find out if you are approved

After submitting your application, you’ll learn within a few minutes whether you might be eligible for a loan and at what interest rates. Depending on your projected credit score, income, loan purpose, and other financial factors, you may be given different repayment terms.

If you choose to accept a loan offer from a partner, you must complete the lender’s full application process. You’ll now need to consent to a rigorous credit check.

Once you have selected a lender, the policies, terms, and conditions of that lender will determine the timeline for loan approval and funding. The funding of most loans takes one to seven days, but some lenders may take longer.

Personal Loan Pro customer service

Personal Loan Pro provides online and phone customer service only. There are no nearby branches to visit, and there are no options for face-to-face assistance.

You can reach customer service by dialing or texting 888-607-7241 or 970-840-2166. Additionally, you can submit a form online with your name, last name, email address, and message. The website doesn’t specify what times phone support is available or how long it will take to respond.

FAQs about Personal Loan Pro

Personal Loan Pro has connections with reputable businesses, has a list of lenders it has partnered with, and in its published privacy policy, clearly outlines what it does with the information you submit. Because of this, using the site is safe.

Remember, though, that you’re not borrowing from Personal Loan Pro. You’re borrowing from a partner lender. Before working with any loan companies, you should check their Better Business Bureau rating and the Consumer Financial Protection Bureaus database of consumer complaints. Pay attention to whether the lender has been subject to regulatory action, has gotten good reviews, and generally receives good marks for customer service.

Make sure you comprehend all of the terms of any loan you apply for, including the interest rate, whether it is variable, upfront costs and fees, the existence of an origination fee, the existence of a prepayment penalty, and the length of the loan’s repayment period. Do not trust any lender unwilling to provide these details.

Will using Personal Loan Pro hurt my credit?

Your credit won’t be harmed if you apply with Personal Loan Pro because all that is required to provide its service is a soft credit check. A hard credit check will be required if you decide you like any loan terms and move forward with a full loan application process. If you have too many inquiries on your credit report, this could damage your credit.

This could also have an impact on your credit if you actually take out a personal loan. However, depending on your credit history and usage, the impact could either be favorable or adverse. Due to the preference for a variety of different types of credit, your credit score may increase if you add a new type of loan to your report. By making on-time loan payments and building a solid payment history, you can also improve your credit score. The average age of your credit is shortened by a new loan on your report, which can temporarily lower your score.

How much can I borrow with Personal Loan Pro?

You will be matched with lenders offering loans from $1,000 to $50,000 through Personal Loan Pro. Each lender will set their own monthly loan payments, interest rates, and loan terms.

Is Personal Loan Pro a good idea for me?

If you are looking for a loan and want to be matched with several different lenders to compare rates and repayment terms, Personal Loan Pro is a good idea. You’ll most likely need good to excellent credit to be approved for a loan. Personal Loan Pro isn’t a good choice if you prefer to get quotes only from banks and credit unions that you’ve personally investigated and chosen because you have no control over which lending partners in the site’s network your loan is shopped out to.

Can I get a personal loan with bad credit?

Even though you might be able to get a personal loan with bad or inadequate credit, it is best to work on raising your credit rating before taking on more debt. When evaluating a personal loan application, lenders frequently consider your creditworthiness and debt-to-income ratio to make sure you can afford your monthly payments. If you want to be given the most advantageous loan terms and rates, think about improving your credit score.

Because you can fill out just one application and have multiple lenders give you borrowing options, websites like Personal Loan Pro have made it much simpler to quickly shop and compare the best personal loans. You can use this to achieve your personal financial objectives.

Personal Loan Pro is a good website to use if you want to speed up the loan application process because it fully discloses all of its lending partners and offers flexibility in the amount you can borrow.

Disclaimer: As of July 6, 2022, all fees and rates were correct.

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FAQ

Is loan Pro safe?

Personal Loan Pro has connections with reputable businesses, has a list of lenders it has partnered with, and in its published privacy policy, clearly outlines what it does with the information you submit. Because of this, using the site is safe.

Do you have to pay back personal loan pro?

They May Have Higher Monthly Repayment Amounts Than Credit Cards Despite Personal Loan Interest Rates Being Generally Lower Than Credit Card Interest Rates Personal loans have a set repayment period, as opposed to revolving credit cards, and must be repaid in full.

How do I know if a loan company is legitimate?

1. Check for contact information. Even if a lender only operates online, it should still be possible to easily find its contact information (phone number, email, and physical address) online.
2. Investigate online reviews. …
3. Make sure it’s registered.

What credit score do you need for personal loan pro?

According to lenders surveyed by NerdWallet, the typical minimum credit score needed to qualify for a personal loan is between 560 and 660. Some lenders may require a higher score. You won’t always be approved or receive a low interest rate, even if you have a high credit score.