The Best Personal Loans in Oklahoma City
Monday, Jun 1 2020
Search online for the best personal loans in OKC and you will get hundreds of results telling you which lending companies offer the best personal loans. But you won’t see much info about actual personal loans that are best for you. That’s because every company offers similar loans, but adds a personal touch that leads to confusion.
This article outlines an array of the best personal loan types so you can make an informed decision when deciding which is right for you.
What Qualifies as a Best Personal Loan?
The best personal loans contain interest rates flexible enough for people with different types of credit history to apply. The potential borrower is aware of all fees attached to the loan with nothing hidden. All fees should be reasonable and affordable. The contract must be straightforward and not contain confusing legal jargon.
Good lenders charge a very low origination fee or no origination fee at all.
Meanwhile, the best lenders offer loans with an interest rate that attracts the most borrowers as well as attract the financially diverse. However, the lending companies must offer affordable interest rates for borrowers with good or excellent credit. Good lenders charge a very low origination fee or no origination fee at all. Lenders try to reward responsible borrowers paying their bills earlier than the due date by eliminating prepayment fees too.
The Best Personal Loans in OKC
Credit unions offer better interest rates for borrowers than banks or mortgage companies. Every member of a credit union receives banking services with amazing benefits and low fees. The same can’t be said for the remaining financial institutions.
Therefore, we’re proud of Focus Federal Credit Union for being one of the top lending companies for personal loans. Our credit builder loan got us high marks for improving credit for borrowers from Benzinga, a top finance website.
Our fresh start loan, signature loan, and personal loan option also received high marks.
Here are our top 4 plans for personal loans:
The personal loan Focus FCU offers flexibility, something our competitors don’t allow. Use this loan to take a vacation, pay for a wedding, attend college, reduce medical bills and credit card bills, cover final expenses, or pay a down payment. Of course, the loan has far more use than that, but these are examples. As long as the use isn’t illegal, it’s fair game.
Furthermore, these loans don’t require collateral. All we ask in return is to fill out an application, offer credit history, employment history, and proof of income; and pay back the loan in full during the contract duration.
Just sign a contract and receive cash instantly? Yes, it’s that easy.
Our signature loan is a type of personal loan that requires a signature and a promise of good faith to obtain and repay the loan. Instead of collateral, we require proof of income, proof of employment, and credit history – the same information required for all personal loans in OKC. After signing the contract, spend the money how you see fit. Just pay the loan off in monthly installments agreed upon by you and Focus FCU for the term’s duration.
Fresh Start Loan
Fresh start personal loans include the same reset button to rebuild credit like personal loans. The difference is this loan builds a savings account alongside credit building. To achieve this, you receive half the loan amount and the other half is in a savings account. As you repay the money each month, the savings portion will accrue dividends during the duration. After full payment is complete, the savings account funds are yours, and the monthly payments become credit contributions to your credit score and history. Just fill out an application with proof of income, proof of employment, and two contacts.
A similar loan to this is the fresh start auto loan. It rebuilds financial credit after losing the vehicle to repossession, bankruptcy, loan collateral, and similar circumstances.
This is the perfect personal loan for young adults or anyone without credit history.
Credit Builder Loan
No credit history? No problem. Our credit builder loan does what it says. It builds credit for borrowers without credit. This is the perfect personal loan for young adults or anyone without credit history.
We understand the difficulty in building credit when no one will lend a hand, so this loan is the perfect starting point. Just fill out the application and provide proof of employment and income like any other loan along with two contacts. After approval and a contract signing, you receive the loan funds. As you repay the loan on time, you build credit. The established credit is good toward a future car purchase, a future home purchase, or a future second, yet different loan. And as a bonus members with this loan receive a discount on auto loans!
More Loan Options
The loans listed are not the only personal loans in OKC that Focus FCU offers. Mentioned briefly, are our Fresh Start Auto Loans, but there are also collateral loans, storm shelter loans, mortgage loans, and home equity loans. While these loans didn’t grab mainstream attention, the loans still offer substantial support for your situation. Additionally, we offer a class to help first-time home buyers transition from rental life to homeownership. And our representatives offer financial guidance to assist with building credit to reach your financial goals.
You can count on Focus Federal to select the perfect loan for your situation. We pride ourselves in taking great care of our members and we will make sure to match your needs with the perfect loan. We can help discover the loan that suits your needs.
If you are ready to explore the best personal loans in OKC, then reach out to us today!
Call us at 405.230.1328 to find that right loan for you!