LendingPoint | Credello

The basics

Estimated APR

7.99% - 35.99%

Min. Credit Score

620+

Max. DTI Debt to Income Ratio

50%

Origination Fees

0% - 8%

Late Penalties

$30

Prepayment Fees

$0

Good for: Fast funding

Our verdict

LendingPoint offers consumers loans with a quick approval and funding process, even for people with fair credit. However, the maximum APR is on the high side.

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Beyond the basics

Fast funding

Low credit scores eligible

No prepayment penalty

Loan Amounts

$2,000 to $36,500

Loan Terms

24-72 months

Time to Funding

1 business day

Full review

Lender description LendingPoint's loans are designed to help credit rebuilders and people with newer credit profiles reach their financial goals.

Best used for

Debt consolidation
Home improvement and appliances
Car repairs
Weddings
Credit card refinancing
Medical expenses
Moving expenses
Wedding

Pros	Cons
Low credit score threshold	High maximum interest rate
Fast loan approval and funding	Doesn't allow cosigners or co-borrowers
No prepayment fee	Possible origination fee

Pros

Cons

Low credit score threshold

High maximum interest rate

Fast loan approval and funding

Doesn't allow cosigners or co-borrowers

No prepayment fee

Possible origination fee

Do you qualify This is what LendingPoint looks for in qualified borrowers: Credit history: Minimum of six months| Credit score: Minimum of 660 (FICO version 9 and VantageScore version 3.)| Debt-to-income ratio: 50% (not including mortgage payments)| Income: Minimum of $35,000. Lender will accept income from employment, alimony, retirement, child support and Social Security. Partner’s income is not accepted.

How to apply Apply online or by phone at 888-969-0959.

Footprint LendingPoint loans are available in 47 states and Washington, D.C. LendingPoint loans are unavailable in Nevada and West Virginia.

Loan example $10,000 loan for a period of 48 months with an APR of 24.34% and origination fee of 7% will have a payment of $327.89 per month

LendingPoint: Personal Loan Review