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Personal Loan Brokers

We help you find the best personal loans and apply online. With Financer.com you can:

  • Use our online loan comparison tool
  • Compare rates from multiple lenders
  • Apply for a loan online
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Loan Broker Services

Chosen 15 times

$0 - $0

Loan amount

N/A

Term of loan

0%

Lowest rate

18

Minimum age

Chosen 7165 times

$1,000 - $50,000

Loan amount

3 Years - 3 Years

Term of loan

9.56% - 29.99%

Lowest rate

18

Minimum age

recommended

Chosen 813 times

$0 - $0

Loan amount

N/A

Term of loan

0%

Lowest rate

Minimum age

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

loan broker service

What Is a Personal Loan Broker?

A loan broker acts as a go-between you and a lender. A loan broker service can save you time and money. The same way a travel agent will negotiate a deal on your behalf.

Personal loan brokers can assist you in finding a personal loan that is tailored to your needs and financial circumstances.

You apply for a loan through a broker rather than directly with a lender.

The broker will then contact the lenders with whom they are linked as well as explore the market for a loan that is a good fit for you.

The Benefits of Using Loan Brokers

How Do Personal Loan Brokers Work?

Personal loan brokers work in a similar way to mortgage brokers: they help you find a good deal on your loan.

A loan broker can assist you with a variety of personal loan solutions available from lenders and help you find a suitable offer – whether you are planning a vacation or purchasing a new car.

Personal loan brokers look for loans within their lending panel, which is basically a group of lenders with whom they work.

They will find a product from one of these lenders once you sign up for their services. Most personal loan brokers provide online applications and loan administration, eliminating the need for you to schedule an appointment or sign and mail documents, which can save you time.

Be sure to ask your personal loan broker about:

  • The total cost of the loan
  • Any extra costs
  • Number of lenders compared for your application
  • If your information is exposed to third parties
  • Fee disclosure

If you merely need a small loan amount to avoid using a credit card, a broker is not needed. Certain credit unions and smaller banks offer unsecured loans as little as $2,000, although brokers normally won’t work with loans as low as $5,000.

How to Find a Good Loan Broker

Tip #1

Look at the loans offered

Make sure that the broker you want to work with offers the type of loan you are looking for.

Tip #2

Consider the type of interest

Most brokers offer fixed-rate interest loans only.

Tip #3

The loan conditions

Can you pay off the loan sooner, make extra payments, or redraw on overpayments? Check to see if you may use these services without paying a price.

Tip #4

Look at the lending panel

This is the lender pool from which your broker will select a loan. The larger the panel, the more likely it is that you will obtain the greatest bargain possible.

Tip #5

How do they work?

Some brokers operate almost completely online, while others rely on more traditional methods such as phone, fax, and mail. Make sure you’re comfortable with the system your broker employs.

Tip #6

The funding time

Brokers have varying speeds at which they can approve and fund your loan. If you need a loan quickly, an online broker should be able to approve it faster than a traditional broker.

Loan Broker FAQs

Does it cost more to use a personal loans broker?

You may have to pay a monthly charge to use a personal loan broker, but you can try to negotiate a lower fee when you sign up for their service. All brokers earn money through commissions paid by the lenders they refer. This is not added to the cost of your loan or the interest rate.

Can I take out a loan from my current bank via a broker?

Brokers sell goods from lenders on their lending panel, that is, lenders with whom they have a relationship. If your current bank is on the broker’s loan panel and offers a competitive program, you can end up borrowing from them. Your broker, on the other hand, should be looking for the best value option for you.

Can I stop using my broker once I have a loan?

This will be determined by the terms of your contract. Before you sign on the dotted line, make sure you’ve read all the terms. If you want to change brokers, you will usually have to terminate the loan and get a new one.

Lorien is the Country Manager for Financer US and has a strong background in finance and digital marketing. She is a fintech enthusiast and a lover of all things digital.

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