How to Apply for Earnest Loans

Many individuals rely on personal loans or student loans to get them through times of need. However, most interested applicants are deterred by their current credit scores and the possibility of being rejected. Earnest has provided individuals with access to different loans that look beyond this. 

Whether it comes to student loans, personal loans, or refinancing options, one of the industry’s leading and preferred institutions is Earnest. It offers competitive Earnest loans designed to complement any lifestyle and those who need flexible repayments. 

If you are interested in applying for Earnest loans under your name, we’ve compiled a comprehensive guide for you. Read on to know more. 

How to Apply for Earnest Loans

Information About Earnest

Earnest is a private online lender that offers different Earnest loans ranging from refinancing to student loans and personal loans. It specializes in giving borrowers access to customizing their repayment schedules to facilitate fast and hassle-free debt clearance. 

As part of its commitment to provide more inclusive services, the company ensures to look beyond credit scores. This way, more favorable rates and flexible repayment options are within your reach. 

Customizable payments and loan terms are also some of the best benefits offered by this lender. 

What makes this a preferential lender among others in the field is that Earnest does away with hard credit checks, allowing applicants to safeguard their credit rating. 

Applying for Earnest Loans

Individuals interested in applying for Earnest loans are urged to review the company’s eligibility guidelines on their website. These eligibility requirements can vary depending on the type of loan or refinancing being applied for. 

For those applying for a personal or parent plus refinancing, individuals must be at least 18 years of age. They must be a permanent resident in or a citizen of the United States. 

Moreover, applicants must either have their current enrollment status as less than half-time or that they will complete their degree by the end of the semester. 

Interested applicants must also be the primary borrower of the loans. Besides, borrowers must also bear in mind that they will only qualify provided they are requesting to refinance at least $5,000 in student loans. 

Other Requirements

Applicants must have a minimum credit score of 650, have a regular income, bear reliable student loan accounts, make regular rent or mortgage payments, and have not declared bankruptcy. 

Some of the factors for approval include having enough savings to cover two months’ worth of expenses, including rent or mortgage, have increasing bank account balances, not carrying a large amount of non-student, non-mortgage debt, creditworthiness, and not incurring later or overdraft charges. 

Application Process

To do this, fill out the eligibility checker online. This will require you to provide your name, email address, citizenship status, education history, annual income, and place of residence. You will also be asked to provide your Social Security number. 

After filling out the eligibility checker, you will be provided with a special rate based on your circumstance. Once approved, you can choose from different repayment options. Loan amounts can range from $5,000 to $500,000. 

Rates and Fees

  • Starting Interest Rate – 1.99% to 5.34%.
  • Interest Rate – No more than 8.95% for loan terms 10 years or less, no more than 9.95% for 10 to 15 years, and no more than 11.95% for loan terms over 15 years.
  • Student Loan Refinance – 2.98% to 5.49% APR.
  • Private Student Loan – 3.49% to 12.78%.
  • Origination Fees – None.
  • Late Charge – None.
  • Prepayment Fees – None.

Bank Contact Information

For more information on Earnest loans, you can reach the company at (888) 601-2801. You may also pay them a visit at 303 2nd St. Suite 401N, San Francisco, CA 94107. 

How to Apply for Earnest Loans

The Bottom Line

Earnest loans are designed for individuals who want control over their loans and repayments. With its flexible repayment term, this is a worthy option to consider. 

Note: There are risks involved when applying for and using a loan. Please see the bank’s Terms and Conditions page for more information.