Payoff: Personal Loan Review

Personal LoansPersonal Loan ReviewsPayoff

Personal Loan Review

The basics

Estimated APR

10.2% – 17.4%

Min. credit Score


Max. DTI Debt to Income Ratio


Origination Fees

0% – 5%

Late Penalties


Prepayment Fees


Good for: Lower fees- no fees except orgination

Our verdict

Payoff offers considerably low interest rates, starting at 5.99% APR, and can come with zero fees for some users. The downside is Payoff loans can only be used for debt consolidation.

Apply Now

Beyond the basics

No fees (except possible origination fee)

Fixed rates

Loan Amounts

$5,000 to $40,000

Loan Terms

24-60 months

Time to funding

2 to 5 business days

BBB Rating



J.D Power 2019 U.S. Personal Loan Satisfaction Study, Customer Satisfaction Index

Full review

Lender description Payoff loans are designed to help consumers boost their credit scores by giving them the ability to reduce multiple high-interest payments into one simple, low-rate payment each month.

Best used for

  • Debt consolidation

Pros & cons

  • Competitive interest rates (APR as low as 5.99%)
  • No common fees: Only fee is possible origination fee
  • Offers online educational resources and financial tools
  • Limitations on loan usage: only for credit card debt consolidation
  • Doesn’t allow cosigners or coborrowers
  • Possible origination fee

Most suitable for

  • Consumers looking to eliminate or lower their credit card balances
  • Consumers looking to streamline their debt into one monthly payment
  • Individual loan applicants

How to qualify You’ll need a FICO score of at least 640 and no current credit delinquencies. Your debt-to-income ratio, age of credit history, credit utilization, and open and satisfactory trades may also be considered.

How to apply Apply online in as little as three minutes by checking your rate, choosing your terms, verifying your information, and receiving your funds.

Footprint Payoff loans are offered in every U.S. state except Massachusetts, Mississippi, Nebraska, and Nevada.

Loan example A loan of $16,000 at 10.99% APR will have a monthly payment of $407 for 48 months.