Honest Loans Review

If you have less than good credit and need fast funding, a lending marketplace like Honest Loans can help you find offers that suit your current context.

Honest Loans offers a loan comparison service that allows prospective borrowers to apply for a loan in minutes and get a decision within 24 hours. You can choose repayment periods of up to 36 months with APRs starting at 5.99%.

Loan offers start from $100 and goes up to $50,000.

How We Rate Honest Loans

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Want to skip the details? Jump to our final verdict here.

Honest Loans Overview

Honest Loans is a lending marketplace that connects lenders with borrowers. The platform hosts multiple lenders and makes it easy for borrowers to find offers in minutes. 

It’s easy to apply for a loan and there are no prepayment penalties or origination fees. What’s more, the website is user-friendly, easy to navigate, and secure. 

You can apply in minutes and get a decision within 24 hours. If you are approved for a loan, you can get funding as fast as the next business day and choose repayment periods spanning from 6 to 36 months. 

Here’s a quick summary of Honest Loans:

Honest Loans Pros and Cons

Here are some of the pros and cons of Honest Loans as a lending marketplace:

Pros

• A lending marketplace with a wide network of lenders. 
• Apply in minutes, get a decision within 24 hours, and get funded as soon as the next business day (if approved).
• A straightforward application process.
• No application fees. No origination fees. No prepayment fees. 
• Loan amounts range from as low as $100 up to $50,000. 

Who Is Honest Loans For?

If you have fair or even bad credit and you are looking for a quick online loan, then Honest Loans is a good consideration. 

By providing access to multiple lenders, the platform gives you a pool of options to choose from. This increases your likelihood of getting the funding you need since different lenders have varying eligibility requirements. 

Although the site states that loan offers range from $100 to $50,000, the platform is most suitable for small emergency loans and cash advances. 

Eligibility Requirements

Here are the qualifying requirements for applying for a loan through Honest Loans:

• Be at least 18 years old.
• Be a U.S. citizen.
• Have an active bank account that accepts direct deposits.
• Have a regular stream of income.
• Have a valid contact number and an active email address.

Who It’s For

Honest Loans is for you if:

• You have a less-than-perfect credit history.
• Need quick funding.
• Want to review multiple loan offers.
• Don’t have collateral.
• Looking for an online loan. 

Who It’s Not For

Honest Loans may not be a good option for you if:

• You are looking for a secure loan, mortgage, or auto loan. 
• You want the lowest APR rates.
• Need a loan of more than $50,000.
• You prefer to deal with a lender in person.
• You don’t want to be contacted by lenders 

How To Apply for a Loan via  Honest Loans

Chosen 9,382 times

• Personal loans from $100 to $50,000
• Get your funds in 24 hours
• Online application takes less than 5 minutes
• No application fees

Min Loan Amount200

Max Loan Amount50000

Lowest APR6.00

Highest APR35.99

Min Loan Term1 Month

Max Loan Term5 Years

Accepts bad credit:Yes.

Minimum Age18

See offerMore Info

5.0Read 7 reviews

What To Consider Before Applying

• Ensure you understand the costs involved. Research the offers available to you and look for the fees involved (origination fees, prepayment penalties, and late payment fees). 
• Ensure you understand the terms of the offer before accepting a loan from a lender. The lenders offering loans through the platform have different terms. Remember that Honest Loans is just a marketplace and lenders define the terms of a loan. 
• A lender offering a loan via Honest Loans might run a hard credit check to see if you qualify for a loan offer. 

Honest Loans Fees

• APRs range from  5.99% – 35.99%. Although there are no fees for using Honest Loans, lenders offering loans through the platform may charge their own fees. 
• Contact the lender directly if you are not sure of the loan terms or the fees associated with a loan. 

Honest Loans Payment Terms

Repayment terms for loans offered on the platform vary by lender. Typically, payment terms range from a 61-day minimum to a 72-month maximum. 

Some lenders may allow you set automatic debits to prevent late or missed payments. Ensure you read the terms of the loan before accepting the offer. 

How Financer.com Rates Honest Loans

Is Honest Loans legit? Yes, at Financer.com we recommend Honest Loans.

At Financer.com, all lenders go through a thorough research and review process. We don’t make recommendations lightly.

All loan applications are done through their easy-to-navigate website with a simple process that takes less than five minutes to complete. There are NO fees and many lending partners in one location. 

With a wide pool of lending options, you can find loans that fit your current financial context. 

Application Process

Honest Loans has a straightforward application process. The user-friendly interface and simple application process mean you can apply for a loan in minutes and get a decision within 24 hours. If approved, you can get funded as soon as the next business day. 

Costs

As a lending marketplace, Honest Loans does not charge any fees. Keep in mind that lenders offering loans through the platform may charge fees and interest. APRs start at 5.99% and are capped at 35.99%. 

Payments

Repayment terms range from 6 months to 72 months. This is quite similar to terms offered by most short-term lenders in the US. 

Customer Service

Honest Loans takes privacy seriously by ensuring that information entered on the site is encrypted and protected from unauthorized access. Keep in mind that Honest Loans – like other lending marketplaces – shares user information with partners in its network. 

Honest Loans Alternatives

Here’s a list of alternatives to Honest Loans and how they compare:

Should you take a loan with Honest Loans?

Honest Loans is a legitimate lending platform where borrowers can get personalized loan offers. The platform features multiple lenders allowing you to compare multiple options and easily find offers that suit you. 

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