Fiona Logo
Loans
Credit Score
Learn
Loans Graphic

Learn Everything About

Loans

Loans

Insurance

Savings

Mortgage

Credit Cards

Credit Score

Top Articles

More Articles
When Does It Make Sense to Pay Off Debt With More Debt?

Personal Loans

Can Taking On New Debt Actually Help You Get Out of Debt?

Debt. For many of us, it’s an unavoidable part of life, helping us reach certain financial goals such as buying a home or going to college. As necessary as debt might be, it can sometimes feel like… well, another four-letter word to be avoided.

4 min read

Related Topics

More Topics
Line Of Credit Illustration
Line of Credit

Frequently Asked Questions

A personal loan (what most people mean when they talk about a loan) is an unsecured loan or a collateral secured loan that you can use for any purpose: consolidating your debt, refinancing your credit card debt to a lower rate, or financing a life event.

You pay back your loan in fixed monthly payments to the lender, with no penalty for paying the loan off early.

APR is the “annual percentage rate”: the annual cost of your loan, as a percentage of the loan amount. The cost includes your interest rate and any fees or charges associated with your loan, including the origination fee. Example: If you borrow $5,000 on a 36 month repayment term with a 10% APR, the monthly payment will be $161.34. Total repayment at the end of 36 months will end up being $5,808.24. As can be seen, the total interest accrued will be $808.24.

When you see a pre-approved offer, the lender has determined that you meet certain approval criteria based on a soft pull of your credit profile that Fiona has performed. Through matching you with pre-approved loan offers, Fiona identifies loans that you will more plausibly get approved for if you were to complete a loan application with that loan provider. Pre-approved offers are conditional commitments for an exact rate from a lender, and let you know if you qualify for that loan. The rates are subject to change but are very rarely different than the rate you’ll see. This enables Fiona to match you with the loan offers that best meet your needs, all while only doing a soft inquiry on your credit score.

When you see a pre-qualified offer, the lender has determined that you meet certain selection criteria based on the information you provided. Pre-qualification doesn’t guarantee approval, but it is a signal that you are more likely to be approved for the loan offer shown.

Our process and the process used by our lending partners and platforms is entirely digital. You never have to leave the comfort of your home or desk and you’ll get matched with personalized loan offers from our network of top providers. The days of physical paperwork and applications are behind us, as you’ll be able to move through the entire process of receiving the funds you need digitally (sometimes as soon as the next business day).

The requirements vary by lender, but we provide options for virtually any credit score across all of the lenders on our platform.

Our Loans Network

Achieve

Achieve offers a fixed rate loan designed to help homeowners use the equity in their home to consolidate debt, make a major purchase, or fund a home improvement project - all without touching their first mortgage rate and terms. Secure a fixed rate lower than most personal loans that will stay the same even if rates go up. Unlike traditional HELOCs, home equity loans from Achieve are built to lower homeowners‘ monthly payments and save them money on their high-interest debt. Close and get funding in as little as 2 weeks. Achieve is a fully-licensed mortgage lending company, Equal Housing Lender [

Reach Financial Logo

Reach Financial is a fintech company that offers consumers a digital banking and lending platform with the mission of helping everyone make financial progress. The company was founded in 2015 by a Team that has deep experience in building customer-centric, data-driven products that make personal finance simple and intuitive. Since our founding, we have broadened our mission beyond lending and are focusing on innovating more broadly in banking and personal finance to empower consumers and give them the access and confidence to make better financial decisions. What sets us apart is our data and product capabilities, our people, our appetite for disruption and relentless focus on the consumer in a world where the choices for consumers are overwhelming. With our expanding suite of lending and banking services that will be delivered through best-in-class digital products and experiences, we are focused on helping consumers de-mystify personal finances so that can live better lives.

Tally Logo

Tally is a credit card consolidation app that helps you pay off debt faster, save money, manage your cards all in one and schedule payments. It’s easy, straightforward, and quick to apply. Sign up and instantly see how much you can save. 

Money Key Logo

MoneyKey is an online direct lender that provides short-term, unsecured Loans and Lines of Credit to underserved consumers through a safe and secure platform. MoneyKey also arranges Installment Loans as a Credit Access Business and a Credit Services Organization in the state of Texas.

60monthloans

60monthloans, Inc. is an unsecured personal loan lender for those with low to good credit. We are especially good for customers who have low credit who are in need of an emergency loan. Some of the perks that come from working with us include: no hard inquiry when customers finish an application, no prepayment penalty, and quick processing time (1-3 business days to get funded). Our APR range is between 19% to 59%. Our loan amounts range between $1,500 - $10,000 payable over 2-3 years.

Personify Logo

ADF, through its Personify Financial brand, is the trusted financial partner for thousands of underestimated under-banked consumers. Combining state-of-the-art technology and world-class application of advanced data science and machine learning, ADF is setting a new standard for assessing non-prime borrower credit and fraud risk. Learn more at www.applieddatafinance.com and www.personifyfinancial.com.

Latest Articles

When Does It Make Sense to Pay Off Debt With More Debt?

Personal Loans

Can Taking On New Debt Actually Help You Get Out of Debt?

Debt. For many of us, it’s an unavoidable part of life, helping us reach certain financial goals such as buying a home or going to college. As necessary as debt might be, it can sometimes feel like… well, another four-letter word to be avoided.

4 min read

Let Fiona match you with the right financial product offers

Our service is free and will NOT affect your credit score

Get Started

WHO WE ARE

HomeAbout UsTrustpilot Reviews

CONNECT

Read Fiona Reviews On Trustpilot.com

Fiona Logo
Copyright © 2022 Even Financial
DisclosurePrivacy PolicyTerms of ServiceGLBA
Powered byEVEN
Home Icon
Even Financial Inc. NMLS# ‍1475872 / NMLS Consumer Access

This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

vv1.0.154.c9792c30c4c955eb05329a895942b630d13ddbad-build.300