Avant Personal Loans offers personal loans, currently with a minimum loan of $2,000 in all states except Massachusetts, with terms ranging from 24 months to 60 months.
AVANT
FAST FUNDS FIXED INTEREST RATEIt is a great option for borrowers with poor or fair credit ratings looking for quick financing, and loans are usually approved the next business day.
Other details
Most loans that Avant approves are from borrowers with credit scores between 600 and 700. However, with a minimum score of 580, the platform also offers loan products for different borrowers. Your eligibility can be verified without compromising your credibility.
Avant Personal Loans feature the most common borrowers in households with an average income of $40,000 to $100,000. However, these criteria vary depending on the purpose of the loan, and the minimum income requirement for lenders is $20,000 as an income requirement.
Family members may also be considered in loan applications and income checks if desired.
Avant does not currently offer borrowers the opportunity to apply with co-signers or co-applicants. However, the applicant’s family’s income may be taken into account, which can be useful in approving a personal loan. Other users can also, but are not equivalent to co-applicants or co-signers and do not affect the application process.
Learn more about Avant Personal Loans
With Avant, you can get a loan quote without completing a loan inquiry. It performs credit checks without compromising the borrower’s creditworthiness. If applying for a loan, the borrower will receive a credit recommendation as part of the approval process.
Borrowers must be at least 18 years old to apply for a personal loan from Avant. Once the loan is approved, the requested amount is immediately transferred to the bank account via an ACH transfer. The advantage is that you don’t have to worry about changing the loan rate because the rate is fixed in advance.
Other Benefits
- Pre-qualification process with smooth credit check: With Avant, you can view potential loan amounts and interest rates at the time of prequalification. Your credit score will not be affected during this process.
- Next-Day Financing Possibility: Receive your loan funds the day after your application is approved
- Flexibility to change payment date: Start by choosing your payment date, with the option to change it up to two times during the payment period
- Mobile app: Avant offers its borrowers mobile apps for iOS and Android devices to make payments, customize payment details, and view payment history
- Wide range of loan amounts: Avant allows its borrowers to pay fees of various sizes, with loan amounts ranging from $2,000 to $35,000
- $0 prepayment fee: If you prepay the loan, you will not be charged anything
- Possibility to refinance your loan: Avant allows you to refinance your loan when you want to borrow more money or qualify for a better interest rate.
Your Easy Guide to Applying for an Avant Personal Loan
Applying for an Avant Personal Loan is a smooth and straightforward process. This guide will walk you through each step, ensuring a hassle-free experience.
- Step 1: Evaluate Your Financial Needs First, determine the amount you wish to borrow. Avant offers a range of loan sizes to accommodate different financial situations.
- Step 2: Check Eligibility Criteria Before applying, make sure you meet Avant’s eligibility requirements. This typically involves factors like credit score, income level, and employment status. Visit Avant’s website for detailed information.
- Step 3: Prepare Required Documents Collect necessary documents such as a valid ID, proof of income, and recent bank statements. Having these at hand will expedite your application process.
- Step 4: Submit Your Application Go to Avant’s official website and locate their personal loan application section. Fill out the application form accurately to avoid any delays.
- Step 5: Review Loan Offers Once Avant reviews your application, you will receive loan offers. Carefully consider these, paying attention to the interest rates, repayment terms, and any additional fees.
- Step 6: Accept the Loan Offer Choose the loan offer that best fits your financial goals and accept it. Make sure to thoroughly understand all the terms before agreeing.
Conclusion
Avant Personal Loans are a great solution for those seeking financial flexibility. Their efficient application process and variety of loan options cater to a wide range of financial needs. It’s important to consider your ability to repay the loan, ensuring a responsible borrowing experience.
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