So
they offer borrowers with excellent credit better interest rates than those with poor credit.
Not exact matches
Though
borrowers with excellent credit, or
borrowers with cosigners
with excellent credit, may receive a loan
with an interest rate lower than the government
offers, it is uncommon.
Borrowers with excellent credit are eligible for lots of juicy discount loans that carmakers
offer through their lending divisions, such as GM Financial and Honda Financial Services.
In a survey of personal loan interest rates
offered by
credit score tier, online lender LendingTree noted that
borrowers with excellent credit scores (between 740 to 850) received a median APR of 8.18 % to 9.66 %, while consumers
with poor
credit scores (659 and under) were saddled
with interest rates starting at 23.99 % up to 30.02 % — roughly one - quarter of their original loan principal.
LightStream generally caters to
borrowers with good to
excellent credit and financial history, but this means the lender can
offer lower rates, better terms and fewer fees.
Banks
offer loans at the best interests and terms but this is only for
borrowers with excellent credit scores of 600 points or higher.
Payoff
offers competitive debt consolidation loans for
borrowers with good to
excellent credit.
Though
borrowers with excellent credit, or
borrowers with cosigners
with excellent credit, may receive a loan
with an interest rate lower than the government
offers, it is uncommon.
Secured loans (collateralized by the purchased vehicle) are
offered to
borrowers with less than
excellent credit.
And while LendingClub
offers APRs as low as 5.99 %, only
borrowers with excellent credit profiles
with qualify for those rates.
For
borrowers with excellent credit, lenders may be willing to
offer up to 85 % of the appraised value of the home, in the form of a home equity loan (minus the amount owed on your mortgage).
You may be
offered a slightly higher interest rate than
offered to
borrowers with excellent credit for mortgage loans,
credit cards, car insurance, and homeowners insurance.
P2P lending can
offer a critical opportunity to people
with excellent credit:
Borrowers can easily get funded
with little hassle, possibly at a lower cost than using
credit cards.
Banks welcome potential
borrowers with excellent credit,
offering them the prime interest rate on personal loans and mortgages.
Different lenders may
offer incentives to
borrowers with excellent credit or penalties if the
borrowers credit is below the Fannie Mae / Freddie Mac guidelines.