Personal loans are among the most versatile borrowing tools available to U.S. consumers. Unlike mortgages or auto loans, unsecured personal loans do not require collateral—approval is based primarily on your creditworthiness, income stability, and debt-to-income ratio.
Who personal loans are for
Our clients use personal loans for debt consolidation (combining high-interest credit card balances), medical expenses, home improvements, wedding costs, moving expenses, and emergency funding. If you need $1,000 to $100,000 with a fixed monthly payment over 12 to 84 months, a personal loan may be the right fit.
Typical terms and rates
As of 2026, APRs for qualified borrowers range from roughly 6% to 36% depending on credit score, loan amount, and lender. Borrowers with FICO scores above 720 often access single-digit rates, while scores below 640 face higher pricing or may need a co-signer or secured alternative.
- Loan amounts: $1,000 – $100,000 (lender-dependent)
- Terms: 12 – 84 months
- Funding speed: 1–5 business days after approval
- Fees: Origination fees of 0–8% may apply
How we help
We compare offers from banks, credit unions, and licensed online lenders. We explain fixed versus variable rates, calculate total interest paid over the life of the loan, and identify prepayment-friendly products. Our consultants review your application before submission to reduce processing delays.
Eligibility requirements
Most lenders require: U.S. citizenship or permanent residency, age 18+, verifiable income, active bank account, and minimum credit score (often 580–640). Self-employed applicants may need two years of tax returns.
Disclaimer: Andrew Steinmeyer Loan Consulting is not a lender. Rates and terms vary. Approval is not guaranteed.
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