Upgrade Personal Loans Terms & Requirements
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.
Application Steps & Time Frames
The process of getting a loan from Upgrade is very simple. There are three main steps that you are going to have to follow and you will then be good to go. You can fill out the initial application online in just a few minutes.
There is no obligation in place at this point in time and no hard credit check, you will then be presented with all of the available loan options.
You can figure out which of these options is the best fit for your needs. Once you have then officially applied for a given loan, you will be subject to a hard credit check.
You will be then required to accept a loan offer. Once everything has been verified, you should then get credited with the borrowed sum within a day of approval.
Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon.
Not Available - Iowa, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.