We recommend LendingPoint for
borrowers with fair credit who have trouble qualifying with other lenders due to derogatory marks in their credit history.
Lenders can add additional «overlays» to their loans, such as requiring extra cash reserves or larger down payment for a loan approval, or charging a higher interest rate or higher fees to
borrowers with fair credit.
So, if you are in need of a debt consolidation help but you have a very low credit score, be prepared to have higher interest rate than
a borrower with a fair credit score would have.
If you're in this category, rest assured as there are many online lenders that offer good unsecured personal loans to
borrowers with fair credit.
A Zillow study found that
a borrower with a fair credit score would pay about $ 720 more per year in mortgage costs for the same home than one with an excellent score.