What are the best $10k personal loans today?
The more money you borrow, the more it will likely cost. The cost can be driven by the amount of time you need to repay and the APR. Therefore, finding the best $10k personal loan is important. To hone in on what is the best offer, you can take the following steps.
- Define your needs
Before diving into loan offers, determine why you need the loan and how much you need. If you plan to use the loan for a specific purpose, such as a home improvement project or HVAC repair, you should gather estimates. Gathering estimates or shopping can help you determine exactly what the project will cost. When you borrow money, you should try only to borrow what you need. If you happen to over-borrow, you may want to repay the extra amount as soon as possible. Loans that don’t have prepayment penalties allow borrowers to pay the loan off sooner than the end of the repayment period. This can help borrowers save money. It can benefit the lender too. While they may not profit as much on the loan, they can get their money back faster, thus allowing them to put it back to work.
- Check your credit score
It can be helpful to check your credit score before applying for a loan. If possible, identify ways to boost your credit score before checking offers. Offers will be more likely to be returned for borrowers with fair, good, average, or excellent credit. Most lenders on the Acorn Finance platform have a credit score cutoff of 600 or above. To qualify for $10,000, you must meet the requirements set forth by the lender. Additionally, you should be in a position to afford the payments. If the lender suspects the loan will cause financial troubles, they may be less likely to extend an offer.
- Check offers
Now that you’ve taken the preliminary steps, it’s time to find the best $10,000 personal loan. At Acorn Finance, you can check personal loan offers up to $100,000, depending on credit score. Our network of top lenders wants to earn your business. Check rates in minutes with no credit score impact. With access to multiple offers in one place you can simplify the process of finding the best personal loan offer.
How do you compare $10,000 loans today?
Comparing loans, regardless of the amount, required borrowers to get prequalified. Loan offers can vary depending on what the borrower qualifies for. Therefore, comparing $10,000 loans takes more work than just viewing advertised rates. Typically, getting prequalified does not impact your credit score, but it’s best to verify potential credit impact with the lender.
While you can research lenders independently to see which might be the best fit, this can be time-consuming. We have seen a boom in the online marketplace for personal loans. Lenders and businesses are recognizing the value in working together to help more people. Through platforms such as Acorn Finance, you can check rates and compare loan offers from a network of top national lenders. We streamline the loan shopping process by providing consumers with a safe and secure platform to shop for personal loan offers. Without commitment or a credit score impact, you can still see what you qualify for.
Want to see more offers? Consider contacting your local bank or credit union to see what they can offer. While too many options can complicate things, you will want to make sure you have found the right loan offer before proceeding.
What are $10k loans?
$10k Loans can come in a variety of loan types. From auto loans to home improvement loans, determining what type of loan is best can help put you on the right path.
Regardless of the type of loan, a $10,000 loan is a loan for $10,000. Pretty straightforward, right? Remember, a loan must be repaid. The repayment period or agreement can vary, but is usually important to borrowers. If you default on a loan, it can impact your credit score negatively. In the event you run into unforeseen financial struggles, be proactive and try to work with the lender to find a way to repay the loan.
How do $10,000 personal loans work?
Personal loans are installment loans. An overview of how they work is as follows.
- Get prequalified to receive a loan offer
- Accept offer
- Submit documentation or information that may be requested during the underwriting process
- Receive approval and funding
- Repay funds in fixed monthly installments with interest over a predetermined period
With few spending restrictions, you can use a personal loan for one use or several uses. Yet another reason personal loans are so popular.
When are $10k loans worth it?
Financial decisions deserve consideration. While money is not everything in life, we want to make a conscious effort to work to better our lives constantly. Maintaining a healthy and comfortable financial position can be an important part of working toward a better life. Sometimes, we have the cash but prefer to keep it, causing us to pursue a loan. Other times, we don’t have the cash, so we turn to a loan.
As you determine if a $10k loan is worth it or not, consider if it will help you get ahead or set you back. Consider the possibility of finances changing. While we can’t predict the future, sometimes we know that a job change or major life shift is coming. It’s best not to assume everything will be okay. A better approach is to plan.
Ultimately, whether a personal loan is worth it or not will depend on personal circ*mstances. As you shop offers, pay attention to total loan costs rather than just monthly payments. You should consider total loan costs as borrowing money does cost money.
List pros & cons of $10k personal loans:
Pros
- Fixed monthly payments
- Funding in as little as 1-2 business days (although funding times may vary)
- Funded as a lump sum
- Few spending restrictions
- Marketplace of lenders to consider
Cons
- Interest rates and fees
- Risk of default
- Credit score impact
- Increase in project costs
- Increases debt
Remember, pros and cons can vary as everyone has their own unique situation. Invest time to consider how a loan will impact your financial situation and life. Part of this process can include a list of pros and cons that are specific to you.
Why choose Acorn Finance for comparing $10k personal loans?
Comparing loan offers empowers consumers to make better-educated financial decisions. The reason it’s a step often skipped is because consumers don’t always consider how big of a business lending is. They get an offer and don’t want to lose it, so they move forward with the offer. Additionally, the truth is that comparing loan offers is a big chore. Doing so, though, can save you money and set you up for success moving forward.
At Acorn Finance, you can check rates in seconds with no credit score impact. Take advantage of our convenient portal with vetted and trusted top lending partners. With well-known names, you can expedite your way to finding the right $10,000 dollar personal loan. Additionally, we eliminate the frustration of sifting through the internet, verifying lenders, and researching for hours. Whether you are ready to take out a loan today or just shopping around - you have everything to gain by checking offers at Acorn. Plus, you can sign in and return to them at a later date if the offers are still available. Our lending partners can fund loans in as little as 1-2 business days, although funding times can vary, so when you’re ready to accept an offer, they are ready to help. Upon accepting the offer, you can complete the application and approval process with the lender of your choice.
Pros and cons of lenders $10k Personal Loans:
LightStream
Best for home improvement loans
While LightStream is best for larger personal or home improvement loans, undoubtedly, they are a top choice. With competitive offerings and large loan amounts available, you may be able to afford to borrow more with LightStream.
As an Acorn Finance lending partner, you can access an offer from LightStream if you qualify through our platform. One of the biggest highlights of LightStream is NO origination fees and the fact that they allow applicants to apply with a co-signer. While they may have more strict requirements to qualify, they are worth trying to qualify with.
Minimum qualifications:
- Minimum credit score requirement of 660 or above
- Minimum income requirement of $50,000/year
Pros:
- No origination fees
- Funding as soon as one business day on approved loans, although funding times can vary
- Competitive loan offers
- Allows co-signer
- Large personal loans available
- Flexible repayment periods up to 12 years
Cons:
- Strict qualification requirements
- No access to pre-qualify through the LightStream website (When applying directly, you can get pre-approved but not pre-qualified; therefore, you may be subject to a hard credit pull. To get pre-qualified with LightStream, check offers through Acorn Finance to see if you qualify.)
- No direct payment to creditors for debt consolidation loans
SoFi
Best for online personal loans for borrowers with next-to-perfect credit
For well-qualified borrowers, SoFi is a top choice for personal loans. Similar to LightStream, SoFi offers larger loans. With competitive offers though you may be able to borrow more. SoFi does not charge origination fees and offers extended repayment periods. As an Acorn Finance lending partner, you can access offers from SoFi and other competitive lenders through the Acorn Finance platform.
Minimum qualifications:
- Minimum credit score requirement of 680 or above
- Minimum income requirement of $50,000/year
Pros:
- Flexible loan amounts and repayment terms
- No origination fees
- Competitive interest rates
- Funding as soon as one business day on approved loans, although funding times can vary
- Allows cosigner applications
- Unemployment protection available
Cons:
- High credit score requirement
- Approvals may take 3 days or more
Best Egg
Best for personal loans for borrowers with fair credit
Best Egg allows borrowers to qualify for personal loans without a perfect credit score. While Best Egg may not offer as much flexibility as other lenders, with fair credit, you may not have as many options available. Best Egg can offer fast funding and competitive loan offers. Plus, they do not have a minimum income requirement. As an Acorn Finance lending partner, you can access offers from Best Egg and other competitive lenders through the Acorn Finance platform.
Minimum qualifications:
- Minimum credit score requirement of 600 or above
- No minimum income requirement
Pros:
- Fair credit scores can qualify
- No minimum income requirement
- Same or next-day funding is available, although funding times can vary
Cons:
- Not available in some states
- Origination fees between 0.99% and 6.99%
- Higher APRs
Prosper
Best for peer-to-peer loans
Peer-to-peer loans cut out financial institutions. This can work to benefit borrowers by offering them more flexibility and opportunity. If you have credit challenges or a lack of income (or provable income), you may want to consider a peer-to-peer lender such as Prosper. While Prosper may have limited repayment periods and charge an origination fee, they have less strict requirements compared to some other lenders. As an Acorn Finance lending partner, you can access offers from Best Egg and other competitive lenders through the Acorn Finance platform.
Minimum qualifications:
- Minimum credit score requirement of 600 or above
- No minimum income requirement
Pros:
- Low threshold for credit score
- No minimum income requirement
- Flexibility to change payment dates
Cons:
- Long funding times
- Origination and late fees may apply
- No rate discount for autopay is available
- Restrictive repayment periods
- Funding may take about 5 business days
Upgrade
Best for bad credit personal loans
Upgrade offers a wide range of loan amounts with lenient requirements, thus allowing them to help borrowers with bad credit. If you have financial flaws but need a personal loan, Upgrade may be a top contender for you to consider. With no collateral requirement and no down payment, you can get funding quickly without strings attached with Upgrade. As an Acorn Finance lending partner, you can check offers from Upgrade and other top national lenders through the Acorn platform.
Minimum qualifications:
- Minimum credit score requirement of 560 or above
- No minimum income requirement
Pros:
- Low credit score requirement
- No early payoff penalty
- Joint applications allowed
- Funding as soon as one business day on approved loans, although funding times can vary
Cons:
- Origination fees between 2.9% to 8%
- Higher APRs, especially for subprime borrowers
Axos Bank
Best for refinancing existing personal loan
Axos bank has a higher minimum credit score requirement than some competitors, but they can offer generous loan amounts. Additionally, Axos Bank offers low origination fees. For borrowers with a solid credit score looking to refinance an existing personal loan in order to lock in a lower rate and payment, Axos Bank should be on your radar. As an Acorn Finance lending partner you can check offers from Axos Bank and other top national lenders through the Acorn platform.
Minimum qualifications:
- Minimum credit score requirement of 700 or above
- Minimum income requirement $48,000/year
Pros:
- Low origination fees
- Mobile app to manage loans
- Fast funding times
- Funding as soon as one business day on approved loans, although funding times can vary
Cons:
- High credit score requirement
- Origination fee up to 2%
OneMain Financial
Best for borrowers with less-than-perfect credit who need fast funding for a personal loan
OneMain Financial can help borrowers with less-than-perfect credit and low minimum annual income. While loan costs can be high, if you need to borrow money, OneMain Financial may be able to provide the funds you need. If the loan is managed responsibly and repaid on time, you can take advantage of an opportunity to boost your credit score. With funding available in as little as one business day, although funding times can vary, OneMain Financial is a well-known lender that you should consider. As an Acorn Finance lending partner, you can check offers from OneMain Financial and other top national lenders through the Acorn platform.
Minimum qualifications:
- Minimum credit score requirement of 600 or above
- Minimum income requirement $7,200/year
Pros:
- Low credit score requirement
- Offers secured loan option
- Low income requirement
- Flexibility to choose your payment date
- Fast funding times
Cons:
- High interest compared to similar lenders
- Origination fee between 1% – 10% (or flat fee up to $500 depending on state)
LendingPoint
Best for fair credit personal loans with fast funding
LendingPoint is another lender on our list that can work with borrowers with less-than-perfect credit. Plus, they can deliver funds quickly, too. Borrowing with bad credit can be costly, but if repaid on time, you can leverage the opportunity to boost your credit score. As an Acorn Finance lending partner, you can check offers from LendingPoint and other top national lenders through the Acorn platform.
Minimum qualifications:
- Minimum credit score requirement of 600 or above
- Minimum income requirement $30,000/year
Pros:
- Low origination fees
- Relaxed credit score and income requirements
- Same or next-day funding is available, although funding times can vary
Cons:
- No joint applications
- High loan costs
- Short repayment periods
Check rates from these top lenders and more at Acorn Finance!
Lenders outside the Acorn network to consider:
Lending USA
LendingUSA is best for one-time purchases or uses, such as cosmetic surgery financing, pet financing, funeral financing, and more. LendingUSA offers loans for a variety of industries. Loans can be obtained through the LendingUSA website or through a merchant partner that refers to LendingUSA. Additionally, if you pay your loan off within six months, no interest will be charged to the principal. With fast approval decisions and loans as small as $1,000 available, Lending USA is another lender to consider for a personal loan.
Reprise Financial
Reprise Financial can help borrowers find personal loan offers that meet their needs. To help borrowers obtain funds quickly, Reprise works to streamline the personal loan process. With customized payment options and fixed rates, check personal loan offers at Reprise Financial.
Universal Credit
For borrowers with bad credit, Universal Credit may be your golden ticket to the funds you need. With a minimum credit score requirement of only 560, Universal Credit is a top choice for subprime borrowers. While loan costs may be higher, they usually are when it comes to borrowing money with bad credit.
Do you need a loan of $10,000 urgently with not just a credit check? Acorn Finance is here to help. We offer loans with not just a credit check, apply today! Also note, we do not offer guaranteed approval $10k loans.
