Editorial Disclosure: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.
If consolidating debt is your goal when taking
out a personal loan, FreedomPlus will give you that, well, freedom. Sometimes
you need money fast (maybe even two business days fast) and this is one lender
that can deliver on that promise. With FreedomPlus you can borrow anywhere from
$10,000 to $40,000 and do, literally, anything with the money. If it’s other
debts you’re trying to pay off, FreedomPlus will even contact those lenders and
pay them for you directly so you don’t have to. Whether you want to start a new
business or put your kid through college, pay for your own wedding or put money
down on a home, FreedomPlus has options for everyone with Annual Percentage
Rates (APRs) starting at just 5.99 percent.
You do need to have a decent credit score if
you’re hoping to be approved for a loan with FreedomPlus. The lender requires a
minimum FICO Score of 620+, but doesn’t require collateral and does not
penalize you for prepayment, either, which is great news. FreedomPlus has an A+
Better Business Bureau accreditation so you can rest assured, when you take the
leap, that you’re borrowing from a reputable source.
Speak with a loan consultant every day of the
week but Sunday. They’re always available to chat Monday through Friday from
6am to 7pm MST and Saturday from 7am to 3pm MST. Your best bet for fully
understanding what the lender has to offer is hopping on a call and asking any
and every question under the sun until you have all the answers you need to
make an informed credit decision. Loan lengths with FreedomPlus can range from
two to five years and, believe it or not, the lender offers plenty of
discounts. Apply with a qualified co-borrower, and chances are you’ll score a
discounted rate. There’s also the direct pay discount, which will reduce your interest
rate when you use your FreedomPlus loan to consolidate other debts. There’s
also the retirement assets discount, which encourages saving. If you’ve saved
up at least $40,000 for retirement, FreedomPlus may toss you a bone by lowering
your rates. Another huge plus? FreedomPlus does not charge an origination fee,
while many other lenders do.
As with any loan or financing situation, there
are pros and cons to borrowing from FreedomPlus. The negatives with this one
aren’t terrible or vast, but they include APRs that can go all the way up to
29.99 percent based on your credit history. Also, if it’s a small loan you’re
looking to apply for, this probably isn’t the one for you. If you just need a
few thousand dollars, keep doing your research and go with another lender.
While $10,000 to $40,000 is great for some borrowers, others may just need a
mini boost. It’s always better to borrow an amount you know you’ll be able to
pay back comfortably within a five-year period. FreedomPlus offers loans in 35
states. If you live in New York, Colorado, Hawaii and Vermont, to name a few,
you’ll have to choose a lender that’s available in your state of residence.
This one’s an overall solid choice, though, if you have good credit and qualify for any of the discounts offered by FreedomPlus. Remember that it’s important to trust your lender and FreedomPlus is highly rated by past borrowers.
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