Personal loans

[Anonymous]

Back in June a friend of mine loaned me 10,500 to buy a property that was adjacent to two I already own (yeah, I know great friend!!) I then spent about 12,000+ renovating it using credit cards to finance the remodel. Today I decided that it was time to consolidate the credit cards. I hit USAA up for $15K and was instantly approved (11.88%). I spent about 10 minutes on the phone setting up auto pay and such. The check will be Fed-Ex'd on Monday.

Then, I went to SoFi and apped for another $10K to pay my friend back. He isn't in any hurry because he knew I was remodeling, but I now want that off my conscience. I was pre-approved at 8.7%. An hour later I received an email from SoFi requesting a couple more pay stubs and the "Congrats! Your loan is conditionally approved pending verification of details". I uploaded the additional pay stubs, but it's after 2:00pm PT, so I will have to wait until at least tomorrow to know if the approval is final.

This is huge for us. We can now tear down the trailer on the first lot and start building our new house soon!

[Anonymous]

Very exciting, congrats! I look forward to hearing about the Sofi loan. I refi'd my student loans with them last year (two?) and am very happy. I thought about doing the personal loan to take care of kitchen renovation, but went a different route. I'd still check with them when I'm in the market the next time. 

[Anonymous]

I also just refinanced a student loan with Sofi and they had been great so far! Congrats on your new house!

[Anonymous]

Congrats! Any idea which score they pulled?

[Anonymous]

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@cmoynihan wrote:

Congrats! Any idea which score they pulled?

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SoFi pulled Experian for me.

[12njoy]

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@Anonymous wrote:

Back in June a friend of mine loaned me 10,500 to buy a property that was adjacent to two I already own (yeah, I know great friend!!) I then spent about 12,000+ renovating it using credit cards to finance the remodel. Today I decided that it was time to consolidate the credit cards. I hit USAA up for $15K and was instantly approved (11.88%). I spent about 10 minutes on the phone setting up auto pay and such. The check will be Fed-Ex'd on Monday.

Then, I went to SoFi and apped for another $10K to pay my friend back. He isn't in any hurry because he knew I was remodeling, but I now want that off my conscience. I was pre-approved at 8.7%. An hour later I received an email from SoFi requesting a couple more pay stubs and the "Congrats! Your loan is conditionally approved pending verification of details". I uploaded the additional pay stubs, but it's after 2:00pm PT, so I will have to wait until at least tomorrow to know if the approval is final.

This is huge for us. We can now tear down the trailer on the first lot and start building our new house soon!

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Congrats.  I got approved for a 20k USAA personal loan yesterday.