You are able to choose between a fixed rate and variable rate loans. There are also different term lengths you can choose between. Upgrade will usually deal with people who have a credit score of at least 560. Available loan sizes will be between $1,000 and $50,000.
Upgrade does not currently charge any early prepayment fees, but there is a 5% origination fee in place when you initially take out a loan. The origination fee is instantly deducted from the borrowed sum.
If you miss a payment, you will be charged a late fee. Generally, the max debt-to-income (DTI) ratio allowable will be 75%. If you’re consolidating debt, you will have the option to make direct payments to creditors. You will also be able to change your monthly payment due date as you see fit.