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How to Qualify for a Personal Loan

personal loan

Personal loans can be quite useful in a variety of different scenarios. From paying off high-interest debt to purchasing a new television, or anywhere in between, the need for extra capital can arise from time to time.

Fortunately, personal loans are available from a variety of lenders with different terms and rewards based on your needs. Therefore, the first step in getting a personal loan is identifying the lender you want to use.

There are a few pieces of information, however, that any lender is going to look at.

The first is credit score. Poor credit may not disqualify you from receiving a loan, but your credit score will impact the terms you are able to be approved for. Lenders will also require proof of income and examine your income-to-debt ratio in order to know what you’ll be feasibly able to pay back, and how loaning money to you will play into your bigger financial picture. Some lenders may want to know about your more valuable financial assets in the case of requiring collateral. And some may require a down-payment of sorts, called an origination fee, which is a percentage of the loan amount paid up front.

With these qualifying factors in mind, it can still be very time-consuming to shop around for loan offerings. If you’ve ever tried shopping for car insurance and ended up having to give the same information over and over to multiple companies, it can be like that.

At Bundlefi, we make the process of finding a personal loan easy. Simply answer a few questions one time and we will match you with several local banks based on your needs. You can then compare the loan options from multiple banks in your area, and apply online.

Get Started in 3 Easy Steps by visiting the Bundlefi personal loan portal.

  1. Complete the form by providing your information. Enter basic details and select personal loan preferences to compare personal loan options from multiple banks in your area.
  2. In less than 30 seconds, find the best personal loan options with competitive interest rates and rewards. You’ll also discover local community banks near you which are better alternatives to mega banks. Compare between the multiple offers presented that meet your specific needs.
  3. Complete your application online and directly with the bank you select, without having to visit the bank.

BONUS: Get a funding decision quickly!

At Bundlefi our goal is to make banking easy and accessible, as well as to connect consumers with community banks and financial institutions such as credit unions. We know the benefits of banking with local institutions far outweigh those of banking with mega banks, and we work to make it easy for consumers to experience those benefits. Whether it’s personal loans, an auto loan, or a new bank account, our website has what you need to get started in less than 30 seconds, and from the comfort of your own home. Visit Bundlefi.com to get started.