Best Personal Loans in Denton, TX: Top Lenders & Best Picks for You

Updated: October 29, 2024

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Denton, TX

MoneyGeek considered over 30 data points to find the best personal loans in Denton. We looked at their affordability, customer service feedback, accessibility and other factors that a consumer might consider when shopping for a loan.

In Denton, the overall best personal loans are from Truist. We also analyzed lenders based on varying purposes and consumer profiles. We found that SoFi and Upstart are the best loans for borrowers with good credit and bad credit, respectively. Upgrade offers the best debt consolidation loan, and Best Egg is recommended for home improvement.

Best Overall Personal Loan Lender in Denton: Truist


  • Truist
    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Truist is MoneyGeek’s best pick for personal loans in Denton. This lender has long established its roots since 1872. Truist personal loans have low rates. You can borrow at least $3,500 and up to $50,000 to be paid off in six to 60 months.

    It can be a good choice for borrowers who need immediate funds. According to Truist, a decision on your loan application can only take a few minutes. You can also receive your funds immediately.

    Truist doesn’t have a minimum credit score requirement. As a result, these loans are accessible to borrowers whether they have good or bad credit. Nonetheless, borrowers might need an established credit history to be eligible for a loan. People with new credit or no credit at all may not be able to get a Truist personal loan.

    Pros

    • Fast approval
    • Low rates
    • No minimum credit score requirement
    • No origination fees

    Cons

    • Needs an established credit history
    • No co-signers allowed
    Truist

Best Personal Loan Lender for Bad Credit in Denton: Upstart


  • Upstart
    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    In 2012, Upstart became one of the pioneers in using AI technology to make loans more accessible to borrowers. Through this technology, Upstart can approve more loan applications while reducing the risk of granting loans to borrowers with bad credit.

    Upstart offers loans for borrowers with a credit score of at least 300. Loan amounts can range from $1,000 to $50,000 and can be released on the next business day. There’s also a possibility that your rate will be high. Only two repayment terms are available for these loans: 36 or 60 months.

    You can change the date of your payments if you’re having difficulty meeting your monthly payment deadlines. You can also choose bi-monthly payments to help you budget.

    Pros

    • No prepayment penalties
    • Fast release of funds
    • Low credit score requirement
    • Payment flexibility
    • Allows bi-monthly payments

    Cons

    • Charges origination fees
    • Charges late fees
    • Doesn’t allow co-signers
    Upstart

Best Personal Loan Lender for Good Credit in Denton: SoFi


  • SoFi
    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds

    MoneyGeek recommends SoFi, a company founded in 2011, for borrowers in Denton with good credit. SoFi personal loans are ideal for borrowers who want to avoid fees on their loans. These loans have no origination fees, closing costs, prepayment penalties or late fees.

    SoFi offers flexible ranges for loan amounts and repayment terms. Its personal loans range from $5,000 to $100,000. Given the relatively large minimum loan amount, SoFi personal loans may not be the best choice for those looking for smaller loans. Borrowers need a credit score of at least 680 to be eligible for a loan.

    One unique perk you can get with this loan is unemployment protection, allowing borrowers to modify their loan payments and receive job placement assistance during forbearance. The forbearance period is up to 12 months to avoid defaulting on the loan.

    Pros

    • Loan amounts of up to $100,000
    • Autopay discount
    • No fees
    • Unemployment protection

    Cons

    • Minimum loan amount of $5,000
    • Co-signers are not allowed
    SoFi

Best Personal Loan Lender for Debt Consolidation in Denton: Upgrade


  • Upgrade
    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds

    Upgrade, a lender founded in 2016, is MoneyGeek’s top pick for debt consolidation loans in Denton. It offers loans from $1,000 to $50,000. Upgrade can deposit the funds directly to your account, but it could take up to two weeks.

    Upgrade can help you pay your monthly dues. For instance, borrowers can change their monthly payment deadlines so that they can plan their budgets accordingly. Upgrade offers a 15-day grace period before charging a late fee of up to $10.

    Pros

    • No prepayment penalties
    • Fast release of funds
    • Funds can be directly sent to your account
    • 15-day grace period for payments
    • Payment flexibility

    Cons

    • Possibly high APR
    • Origination fees
    • Late fees
    Upgrade

Best Personal Loan Lender for Home Improvement in Denton: Best Egg


  • Best Egg
    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    MoneyGeek’s best pick for home improvement loans in Denton is Best Egg. This company was established in 2014. It offers several personal loans for a wide range of purposes, including home improvement. Best Egg personal loans can range from $2,000 to $50,000 to be repaid within 36 to 60 months.

    This may not be ideal for people who are looking for affordable loans and those who don’t have excellent credit. The APRs for these loans can be quite high compared with other lenders. You also need a credit score of 700 to be eligible for a loan.

    Pros

    • Fast release of funds
    • Payment flexibility
    • No prepayment penalties
    • No late fees

    Cons

    • Origination fees
    • High credit score requirement
    • Possibly high APR
    Best Egg

Where to Start: How to Choose the Best Personal Loan Lender in Denton for You

The average personal loan debt in Texas is $15,505. It’s important to know the specifics of your loan. Applying for a loan means you need to be ready for a long-term financial commitment. MoneyGeek created a guide to walk you through the process of preparing for a personal loan in Denton.

  1. 1
    Ask Yourself the Important Questions

    Getting a loan is a major financial decision, so it’s important to know what you need. Here are a few questions to ask yourself before loan shopping:

    • How much funding do I need? Lenders offer different loan amounts, so knowing how much you need may determine the lender that fits your needs.
    • What is my credit score? Your credit score is a crucial part of the loan since it affects your loan amount, terms, rates and fees.
    • Can I afford the monthly payment? Personal loans are paid in monthly installments, so you’ll need to adjust your budget to pay off your loan.
    • How much debt do I already have? Existing debts may be one of the factors that lenders consider in approving your loan so that you’re not taking on unmanageable debt.
  2. 2
    Do Your Research

    Finding the perfect loan could mean doing extensive research. Before knowing more details about your preferred lender, you need to explore your options. This will help you find rates and features that can fit your budget and needs.

    Then, you can focus on your chosen lender. Consider knowing the details of the loan, such as fees, payment flexibility, eligibility requirements and so on. These details will help you set your expectations when you finally have the loan.

    Take note that a loan is a commitment. You’ll have to pay your monthly dues for the next two to four years. It might also affect your credit score, especially if your lender conducts a hard pull. Therefore, you need to be prepared before applying for a loan.

  3. 3
    Wait

    Waiting for a few days can help you with making the best decision under your circumstances. The waiting game doesn’t have to be long. A day or two can be enough to ensure that you’re sure about your choice of lender.

    Giving yourself time can help you spot issues that you might have overlooked. You can also use it to take a break from shopping for a loan. This can give you more time to review the details of the loan you’re planning to apply for.

  4. 4
    Read the Fine Print

    The fine print states your fees, rates and other costs that may come with your loan. Sometimes, borrowers miss some details when researching personal loans. As a result, these extra costs pile up, and the borrower ends up paying more for their loan. This is why reading the fine print is a crucial step in the process.

    Pay attention to fees like prepayment penalties, early payoff fees, origination fees, late fees and so on. This information can be found on the lender’s website, at the bottom of the page or in their FAQs. Reading the fine print can be time-consuming, but it may be worth avoiding the additional costs.

  5. 5
    Apply

    After doing your research, the next step is to apply for a loan. The application process is different for every lender, so it’s important to know how your lender’s process works.

    Some lenders have a convenient online application process. If you’re not comfortable with applying online, consider applying via phone or in person at your lender’s office.

    The application process can be more streamlined if you have your documents prepared beforehand. Usually, lenders require papers for identification, address confirmation and proof of income, but they may ask for additional documents.

What to Do if You Can’t Get a Personal Loan in Denton

Lenders consider several factors when reviewing your loan application. Applications could be rejected when certain credit details don’t reach their eligibility requirements. The common reasons for rejection are low credit score, insufficient income and existing debts, among others. It’s all right if your application has been denied. There are still a few things you could do to get a loan.

If your lender has denied your application, asking them for the denial reason is best. Spotting the problem allows you to work on it. When you’ve improved this area, you can apply to another lender or re-apply for the same loan.

A faster option could be modifying the details of your loan. For example, if your monthly installments are too expensive for your budget, consider increasing your repayment term. This can decrease the cost of your monthly dues.

We do not recommend payday loans. They could be easier to get, but they can also put you in much more debt. The interest rates for these loans are high, making it difficult for the borrower to repay their loan fully.

Frequently Asked Questions About Personal Loans in Denton

Borrowers need to consider several factors when looking for a loan, and it’s normal to have a few questions. To help you find the lender that can cater to your needs, MoneyGeek answered frequently asked questions about personal loans in Denton.

What is the best personal loan lender in Denton?
Which lender in Denton has the lowest interest rate?
Can I use a personal loan for vacations in Denton?
Can I use a personal loan for home improvement in Denton?
What can I not use my personal loan for in Denton?
How much can I borrow in Denton?
How long does it take to get a personal loan in Denton?
Can I pay off my loan early in Denton?

Our Personal Loan Methodology

We gathered 35+ individual data points for 30 personal loan lenders. These data points were then categorized into six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Some of these individual data points are APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time. We considered these data points since they might carry the most weight when you’re choosing a personal loan lender.

MoneyGeek cares about you, the consumer, so we factor in features that could make your experience more convenient and accessible. These features include prequalification, payment options and mobile apps.

We have your best interest in mind when choosing our best picks. Our recommendations and expert tips involve careful consideration and calculation to help you make the best decision when choosing a lender that meets your needs.

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

Read Full Bio »
sources
Shield Insurance

The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.

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