At Fastrack Lending, we believe that the foundation of great customer service is not selling our services, but rather, working to understand the unique challenges that our customers are facing and addressing those issues. The following are some of the most common questions related to obtaining a loan through Fastrack Lending.
Frequently Asked Questions
What’s the Benefit of Getting a Loan through Fastrack Lending?
Obtaining a loan through Fastrack Lending can offer access to loans with low fixed-interest rates, which can provide a fixed payment schedule, giving you a predetermined endpoint for paying off your consolidated debts. Most credit card rates will increase if/when the Prime rate increases because they’re variable.
What is the Interest Rate?
Consumer interest rates are determined by multiple factors. These factors include, but are not limited to your individual and/or co-applicant credit history, your income, and your ability to repay the loan. Generally speaking, interest rates can vary from 3.86% – 35.99%.
Is there any Collateral Required?
Obtaining a personal loan through Fastrack Lending does not require any collateral.
Does Pre-Approval Guarantee I’ll Get a Loan?
When you receive a pre-approval, that information is based upon a “soft pull” of your credit (which does not affect your credit score), which determines your creditworthiness as related to the offer. If, after you’ve responded to an offer, it is determined that you no longer satisfy those criteria, credit may not be extended to you. This can occur if your credit score has recently decreased. Additionally, income verification is required if/when you accept a pre-approved offer from a lender. If it’s determined that you don’t have sufficient income to support your loan payments, then credit may not be extended to you.
Are There any Prepayment Penalties?
There are no fees or penalties for early payment of your loan. Interest is only paid on your loan’s outstanding balance, so early payment will have the added benefit of reducing your interest charges. Any fees that have already been paid, such as origination or fees (if applicable), will not be refunded.
Your Life. Your Loan.
Your Loan Consultant will provide a free, no-obligation consultation focused on your specific financial needs and goals.
They’ll walk you through the quick application process, and you simply submit the form once it’s complete.
You’ll be informed once loan offers are available. Simply select which option best suits you.
Personal Loans Rate and Terms Disclosure: All loan requests are funded by third-party lenders. Fastrack Lending, LLC (“Fastrack Lending”) does not endorse any lender or loan broker, and does not charge consumers for the services provided by its platform. Rates for personal loans provided by lenders on the Fastrack Lending platform range between 5.99%-35.99% APR with terms from 36 to 60 months. Actual rates, terms, and loan amounts may vary based on the lender’s eligibility criteria, which may include factors such as credit score, loan amount, loan term, credit usage, and history, and vary based on the loan purpose. Not all who apply will qualify for the lowest interest rate or the maximum loan amount. The lowest rates available typically require excellent credit, and for some lenders, they may be reserved for specific loan purposes and/or shorter loan terms. Fastrack Lending does not control any lender’s creditworthiness or eligibility criteria. All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. Rates and terms are subject to change at any time without notice. To qualify, a borrower must be a U.S. citizen or permanent U.S. resident in the following states: Alabama, Alaska, Arizona, California, Delaware, Florida, Idaho, Indiana, Michigan, Mississippi, Missouri, Nebraska, New Mexico, New York, North Carolina, Oklahoma, South Dakota, Texas, Virginia, Wisconsin, and Wyoming. Borrowers must be at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). Lenders may request verification of income or employment, or perform a credit check in order to evaluate your eligibility. To check the rates and terms you qualify for, third-party lenders conduct a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, a full credit report will be requested from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. For details, questions, or concerns in connection with your loan request or the potential impact of a loan application on your credit score, please contact your lender directly. Neither this service nor the lenders participating on the Fastrack Lending platform are available in all states. This service does not constitute an offer for loan products if such are prohibited by any state law. Void where prohibited.