I recently moved from San Francisco to Boston to start a new job after having spent a month in Thailand hiking the country's tallest mountains and eating everything I could get my hands on. When I arrived in Massachusetts, I quickly learned getting into an apartment is a $6,000+ money drain and I just didn't have those funds on hand. I applied for a loan through Wells Fargo (my actual bank) and they quoted me a $6,500 loan at 18% APR! What?! I heard about Earnest from a friend, ended up on their site, and after filling out the loan applications, I had funds in my account, ready to use, 2 days later. The CEO even called me to go over the process and learn more about who I was. Earnest treated me the way I wish my actual bank would. Really amazing company. Highly recommend them!
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I got $15k loan with 9.71% APR, not bad. Their Application process is unusual as it requires to link all bank account and credit card account for them to look at all transactions, not a big deal for me. They access bank information same way as Mint.com and I am using mint for a long time, I have no issue sharing login credentials. Application process took around a week. Here is the thing to consider if you are not desparate to get loan by any means and also looking to improve you credit score as well. Earnest pulls hard query from Experian, not a big deal but Earnest ONLY reports loan details/activity to Experian but DOES NOT report to TransUnion and Equifax, red flag for someone trying to improve their credit score at the end of the day as Earnest loan will not improve TransUnion and Equifax credit score.
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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.