HOLY BATMAN!

[Anonymous]

So just for the hell of it (it was a SP), I wanted to see how high AVANT would charge me if I wanted a $20,000 loan. Btw, the min. is $3,000 for 36 months.

Granted I don't need this loan and I understand others here may decide to take this route, but holy fah-holee Batman!!!!  I nearly cr*pped in my pants!!!

I don't know about you but this is highway robbery.

Other P2P options would be to use Upstart or even Prosper - their rates are not super low but they are not crazy high either. Live and learn my fellow MyFico peeps.

[Anonymous]

FICO's?

[Anonymous]

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@Anonymous wrote:

FICO's?

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300 

nah,  all 3 are in the 725-735 range.  I'm not a 800pound gorila scorer but I don't deserve bloody murder rates either.

[AeroKrix]

Maybe that's their lowest rate? I remember receiving things from lender like avant. I saw 150-200% before. Consider yourself lucky...in avant's eyes lol

[Anonymous]

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@AeroKrix wrote:

Maybe that's their lowest rate? I remember receiving things from lender like avant. I saw 150-200% before. Consider yourself lucky...in avant's eyes lol

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LOL!  Good one Aero -- I guess being lucky is a good way of looking at it. 200%???? Really? WOW! 

[Anonymous]

wow! 

[DaveInAZ]

Try different per to peer lenders, there can be large differences in pre-approval rates. Last June I was shopping for a $5k personal for debt consolidation, I had a Barclays BT that would soon go from 0% to 22.9%. Lending Club was regularly sending me pre-approvals in the mail so I tried them first, they offered around 27%. I got the loan from Prosper for 10.89%. Fico was around 660.

[Erusidhion]

    Well, that's only $33,631.92 in the end for a $20,000.00 loan! What an amazing deal! I think loans like these although their interest rate is high, is for entrepreneurs and business minded people that could turn that $20,000 loan into potential revenue that would cover the $33,631.92 and also give them a really good return. Loans like these are probably good for real estate investment, business startups where you can make tons of money but maybe have trouble procuring the funds to do so, etc.

DEAR ERUSIDHION, Congratulations, you've been pre-approved for up to $9,900.00!

    That sounds like an amazing deal to me! I played around with the calculator a little bit, even at maxing out the $9.900.00 borrowed my payments would be $345.23 a month @ 34.03% interest for 60 months. Which it would cost me $20,713.8 in the end, which is rediculous of course however I wonder if there is a pre-payment penalty. 

[Anonymous]

37.59 APR??? That's insane!

[dobirdsmommy]

wow even Prosper gave me a better look and loan

Never take it. I took a LC loan 2 months ago.

8% for 9600. Min payments were like 275 for 3 years.

I am paying them 400 per month.  Not complaining I am already at 8900.

You Qualify for a $25,000 Loan

Your customized loan offer:

Loan Amount	$25,000
APR	20.00%
Interest Rate	16.30%
Monthly Payment	$882.63 (36 Payments)

You also qualify for these loan amounts:

36 Month Loans - Faster Payoff

Loan Amount APR Interest Rate Monthly Payment

$10,000	17.64%	13.99%	$341.73
$15,000	18.09%	14.43%	$515.80
$20,000	18.72%	15.05%	$693.80
$22,000	20.00%	16.30%	$776.72
$25,000	20.00%	16.30%	$882.63

60 Month Loans - Lower Payments

Loan Amount APR Interest Rate Monthly Payment

$10,000	19.76%	17.35%	$250.41
$15,000	20.09%	17.68%	$378.30
$20,000	21.24%	18.80%	$516.61
$22,000	22.61%	20.13%	$584.46
$25,000	22.61%	20.13%	$664.16