Based in San Diego, CA, Payoff is a fresh face in the realm of consumer finance. However, do not be misled, as the company collaborates with more than 30 lenders that rival some of the leading financial institutions in the United States.
Payoff Financial Consolidation Highlight
300
Even if your credit score isn't perfect, Payoff Financial might be a good option for you. They welcome borrowers with lower credit scores, with a minimum requirement of 300. This can be helpful if you're rebuilding credit or have difficulty qualifying elsewhere
12-144 months
Payoff Financial offers flexible repayment terms ranging from 12 to 144 months. This allows you to choose a payment plan that fits your budget and financial goals. Longer repayment terms mean lower monthly payments, but also extended interest accrual. Consider what works best for you when selecting a loan term.
None
Payoff Financial stands out for its transparent fee structure. Unlike some lenders who charge origination fees or prepayment penalties, you'll only be responsible for the interest on your loan amount. This can help you save money in the long run.
1 Day-4 Days
Get the money you need quickly! Payoff Financial boasts a fast funding time, with potential access to your loan amount in as little as 1-4 business days after approval
2.49-35.99%
Payoff Financial offers personal loans with APRs ranging from 2.49% to 35.99%. Remember, your specific rate will depend on your creditworthiness and other factors. Pre-qualification allows you to see your estimated rate without impacting your credit score.
Unsecured Personal Loans
Fixed-Rate Personal Loans
Soft
Payoff Financial utilizes a soft credit pull for pre-qualification, allowing you to see your estimated rates without any impact on your credit score. This is a great way to explore loan options and find the right fit for you without jeopardizing your creditworthiness.
None
Payoff Financial stands out for its transparent fee structure. Unlike some lenders who charge origination fees, you'll only be responsible for the interest on your loan amount. This can save you money upfront when securing your loan.
$500-$100k
Payoff Financial offers personal loans ranging from $500 to $100,000. This vast range allows them to cater to a variety of debt consolidation needs, from smaller credit card balances to larger student loans.
Network/Marketplace
Network/Marketplace Lender:
Streamlined Loan Connection: "Payoff Financial functions as a network/marketplace lender. They connect you with a network of lenders who compete for your business, potentially offering you more favorable rates. This streamlined process can save you time and effort when shopping for a debt consolidation loan."
Some additional things to consider mentioning (optional):
Since Payoff Financial isn't the direct lender, you won't necessarily build a relationship with a single lender.
However, the ease of comparing rates and potentially finding a better deal can outweigh this for some borrowers.
Varies by lender
It's important to note that prepayment penalties may apply depending on the lender you're connected with through Payoff Financial's network. Payoff Financial itself doesn't charge prepayment penalties, but individual lenders might. Be sure to carefully review the loan terms presented by each lender before making a final decision.
Getting a personal loan through Payoff Financial's network is designed to be straightforward. Here's a breakdown of what you'll need:
Payoff Financial gathers basic information and your desired loan amount to connect you with potential lenders in their network.
The online application typically takes around 5 minutes to complete.
Decisions are often delivered within two hours, and funding can arrive in as little as one business day (depending on the specific lender you're matched with).
By focusing on these aspects, Payoff Financial aims to simplify the debt consolidation process for borrowers. They connect you with a network of lenders, potentially leading to competitive rates and faster access to funds.
Payoff Financial Consumer Reviews
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*Trusted Consolidation Reviews is a free online resource. We are compensated in exchange for featured placement of sponsored products and services, or by you clicking on links posted on this website. This compensation may impact how, where, and in what order products appear. Trusted Consolidation Review does not include information about all companies or all available products. The information, including representative pricing, which appears on this site is subject to change at any time.
* The websites displayed on this page provide a service that attempts to connect individuals with one or more lenders or other financial service providers. The websites displayed are not lending offers, the websites do not broker loans, and the websites do not make cash advances or credit decisions. The use of the websites displayed does not guarantee that you will be connected with a lender or other financial service provider, any particular loan program, or that you will receive a loan.