Which Lending Platform Sofi, Lending Tree or Prosper Provides The Largest Loan Options

Sofi offers the largest loans of the three lending platforms. With Sofi, you could borrow up to $100,000 on a personal loan. The minimum loan amount that you can take out at Sofi is $5,000. Sofi charges a fixed APR interest in the range of 5.49% – 14.24% on personal loans for those who choose auto pay. Sofi gives you three terms to make the repayment including 3,5, and 7 years. Instant pre-approval is available and you can fill in the online form to find out your pre-approved interest rate.

Sofi personal loans have no origination or early repayment fees. If you are a member at Sofi, you can get 0.125% discount on the interest rate. Sofi loans feature unemployment protection which allows you to temporarily pause the repayment from your account until you get employed. You can apply for a loan at Sofi by first getting pre-approved for the interest rate. After you have make a decision to go ahead with the loan offer, you can submit more documents to complete the application. You have to sign a few documents with your electronic signature before they will wire the funds to your account.

Lending Tree can connect you to a network of more than 350 lenders. At Lending Tree, you can expect to get approved for a personal loans in between $1,000 to $50,000. The lenders at Lending Tree consists of online lenders and banks. The search engine is easy to use and has a user friendly interface with big font size and buttons. Lending Tree will approve any borrower that possess a decent credit.

To see the list of lenders, you must first take a survey that requires you to answer basic questions like loan purpose, how much you want to borrow, social security number, postcode and etc. It will display up to 5 loan offers at a time. Within minutes of applying, you will get a reply on whether your loan gets pre-approved. The search engine will display all the details of the loan so you don’t have to visit the lender site.

Prosper is a P2P platform that allows you to take out a minimum loan of $2,000 and the maximum loan amount being $35,000. Prosper provides unsecured loans that do not require any collateral with loan term in between 36 – 60 months. They approve your loan based on the credit history. Prosper loans can be used for a variety of purposes including debt consolidation, home improvement, vehicle, and green loans.

At Prosper, you can track the approval of your loan application through the verification stage system. The verification stage system allows you to know how long is there until they finished process your loan application. The loan has fixed monthly payment and you won’t get charged with prepayment fees when you repay the loan early.

Lending Tree Loans, What Other Loans Are Offered Besides Mortgages

Lending Tree is not a lender but it is rather a search engine that allows you to compare loans from multiple providers. Besides mortgages, Lending Tree offers other types of loans such as auto loans, personal loans, business loans and student loans. The auto loans can be used for new/used car purchased, refinancing a car or lease buy out a car. The auto loans feature interest rate starting from 1.85%. The interest rate on the auto loans vary depending on the loan term. There are 3 loan term options to choose from including 36, 48 and 60 months.

The personal loans allow you to borrow up to $25,000 and the APR interest rate starts from as low as 6.79%. The loan term for the personal loans is 24 months – 60 months. At Lending Tree, you can compare personal loans offers from reputable providers such as best egg, Avant, and Lending Club. You can apply personal loans for all kinds of purposes at Lending Tree including debt consolidation, home improvement, major purchase, and vacation.

Lending Tree also offers various small business loans including SBA, short-term, long-term, the business line of credit, working capital and equipment financing. You can compare up to four small business loan providers at Lending Tree.

Lending Tree provides student loans for students that are pursuing degree programs at the college or university. The student loans are designed for students who don’t have an established credit history. You can compare private loan offers with fixed and variable interest rates at Lending Tree. The APR interest for the private student loans starts from as low as 3%.

You only have to fill your information in a single loan request form at Lending Tree. The form will ask you to provide your credit score. If you don’t know your credit score, you can request for a free VantageScore from the Lending Tree site. They will use the information submitted in the form to find lenders that are willing to approve the loan. Lending Tree only allows you to receive up to five loan offer. You have to apply for the loans yourself if you want to get more than five offers.

Lending Tree has a loan calculator that you can use to calculate how much monthly payment you have to pay. The loan calculator takes into account factors such as credit score, down payment, and income. It is a good tool that can help you to decide which loan offer to accept. At Lending Tree, it should not be much of a problem to get a loan if you have a credit score that is higher than 660. If you are not sure which lender’s offer to accept, you can read the reviews in the review database at Lending Tree.