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Avant: Personal Loan Review

The basics

Estimated APR

9.95% - 35.99%

Min. Credit Score

560+

Max. DTI Debt to Income Ratio

70%

Origination Fees

0% - 4.75%

Late Penalties

$25

Prepayment Fees

$0

Good for: Getting funds quickly

Our verdict

With low credit score eligibility requirements, you can get an Avant personal loan even if your credit is subpar. While Avant doesn't have prepayment penalties for paying off your loan early, it does charge numerous other fees and has a high maximum interest rate.

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Beyond the basics

Fast funding
Quick application process

Fixed payments

Track loan progress with mobile app

Loan Amounts

$2,000 to $35,000

Loan Terms

12-60 months

Time to Funding

1 business day

Full review

Lender description Avant is an online lender that provides both standard unsecured loans and secured installment loans with an almost entirely web-based process.

Best used for

  • Debt consolidation
  • Home improvement
  • Emergencies

Suitable for you if

  • You have fair or poor credit and need fast funding

Pros & cons

ProsCons
Low credit score eligibility requirementsDoesn't allow co-borrowers or cosigners
Highly-rated mobile app lets you see your payment history and manage upcoming payments on the go High APR caps
No prepayment fees for paying off your loan early Charges numerous fees, including origination fee, returned payment fees, and late fees
Secured and unsecured loan options

Do you qualify This is what Avant looks for in qualified borrowers:| Credit score: Minimum of 550 (FICO version 8 and VantageScore version 3)| Income: Minimum of $1200. Lender will accept income from employment, alimony, retirement, child support, and Social Security.| Must have a bank account in your name and good standing| Must have a valid Social Security number| No active bankruptcy

How to apply Apply online or through the Avant mobile app. All applicants are required to undergo identity verification.

Footprint Avant is available in 43 states and Washington, D.C. Loans are unavailable in Colorado, Hawaii, Iowa, Nevada, New York, Vermont, and West Virginia.

Loan example A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments with an APR of 29.95% would have monthly payments of $230.33.

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