Personal Loans

Use this page to find personal loans that you can use to fund all sorts of things with your real estate business!
In no particular order.....

DALLAS

Neighborhood Credit Union

Home equity loans: Closed end with fixed interest rate. Full 80% of home's value (tax appraisal district) There is a cash out option. Can be a 2nd lien. Minimum $30k - max is solely based on the value of the home. 1st lien and 2nd lien 4.35-9.25%. Terms are 5-30 years for 1st lien. 2nd lien is 5-20 years. Must be a homestead. Credit score must be at least 549. Closing costs are rolled into the loan. 1st lien must have escrow account. Personal loans must have 549+ credit score. Usually with 24 hours as long as the documentation is available. Personal loans: 9.25%-17.49% Home equity: 4.35-9.25%

https://www.myncu.com/loans/personal/

Lone Star Credit Union

Personal loans - no max - just depends on means. Home Equity Loans - 80% of value - liens (no cap)Personal loans: 7.75-18.00%, Home Equity Loans: 4.50-6.00% depending on # of years. 24-48 hours to fund personal loans.

https://www.lonestarcu.org/borrowing/personal-loans/

Resource One Credit Union

Personal loans: 8-17.50%. Home equity loans: 4.25-4.75%Personal loan can be funded same day. 1st or 2nd lien positions available. On an investment property it would be limited to 70% of LTV. Primary residence 80% of LTV.

https://www.r1cu.org/loans/personal/

HOUSTON

Houston Federal Credit Union

No LOC. Personal loans. $250-$50,000. Credit history with other lenders and if they have a current lender with the same limit. No magic credit score. Can be as fast as 24 hours. Residence requirements - Houston metro overall - some areas on outskirts won't qualify - but if borrower works in Houston metro or attends church in Houston metro it would qualify them. Rates 7.7-18.0%

https://www.houstonfcu.org/loans-credit/loans/personal-loans/signature-loans

Member's Choice Credit Union

Can be as fast as 24 hours. Needs to be a member. Credit verification and income verification (last two paystubs). No magic credit score. Surrounding counties (Fort Bend, Harris, Cypress) - they can check against a list. Live, work or worship in any of the areas they cover. Do both personal loans and LOC. No HELOCs. Do have business loans but have to have proof of business income. Maximum loan $30,000. Rates start at 7.99%

https://www.mccu.com/personal/personal-loans

Smart Financial Credit Union

Have to live in Harris, Fort Bend, Montgomery or Brazoria County. Can be as fast as same day. Minimum requirement 600 credit score and at least $1500 monthly income. With LOC they are a bit more lenient and can work with people with less than 600. Have LOC and personal loan. No limit for LOC - Personal loan max is $50,0009.49-17.99% for LOC, 6.99-17.9% for Personal Loan

 

https://www.smartcu.org/personal/personal-loans

Texas Dow Employees Credit Union

Super friendly. Decisions same day - funding can take a few extra days. As fast as 24 hours. Must live or work or worship within 10 miles of a branch or be related to someone with an account. No magic credit score. Only look at the credit score for the rate - use the report for credit worthiness. Line of credit minimum: $1000. Personal loan max - no limit 3.99-17.99%

Personal loans: https://www.tdecu.org/personal-loans/

Line of Credit: https://www.tdecu.org/cash-stash-line-of-credit/

ANYWHERE IN TEXAS

One Main Financial

$1,500-$20,000. 16.05% - 35.99%. You won't be able to say you're using this for real estate investing, but you can fib a bit and say debt consolidation or home improvement. 

https://www.onemainfinancial.com/personal-loans

Prosper

Rates vary by credit. You won't be able to say you're using this for real estate investing, but you can fib a bit and say debt consolidation or home improvement. 

Pre Qualify here: (Credit score not affected) https://www.prosper.com/borrower/#/prospect/registration/original

Lending Club

Rates vary by credit. You won't be able to say you're using this for real estate investing, but you can fib a bit and say debt consolidation or home improvement. 

https://www.lendingclub.com/

Avant

Loans of $2,000-$35,000. 9.95% - 35.99% APR. You won't be able to say you're using this for real estate investing, but you can fib a bit and say debt consolidation or home improvement. 

Pre Qualify here: (Credit score not affected)

https://www.avant.com/

Best Egg

Loans up to $35,000. Rates vary by credit. You won't be able to say you're using this for real estate investing, but you can fib a bit and say debt consolidation or home improvement. 

https://www.bestegg.com (Credit score not affected)

Discover Personal Loans

6.99% to 24.99% APR. You won't be able to say you're using this for real estate investing, but you can fib a bit and say debt consolidation or home improvement. 

Pre-Qualify here: https://www.discover.com/personal-loans/

Marcus by Goldman Sachs

Loans from $3,500 to $40,000. 5.99% to 24.99% APR. You won't be able to say you're using this for real estate investing, but you can fib a bit and say debt consolidation or home improvement. 

Pre-Qualify here: https://www.marcus.com/us/en/personal-loans (site says "will not affect your score on the first page of the application - not on the home page)

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