15 Mar Qualities of MoneyMutual that Make it an Ideal Emergency Lender for People with Bad Credit
Interest Rates and Fees of MoneyMutual
APR- An Annual Percentage Rate ranges between $5.99 and $ percent. The good news is that MoneyMutual doesn't charge borrowers any origination fee for loan applications. It serves as a middleman and connects borrowers with the best lenders through an online portal. Once you find the lender suitable for your loan needs, the company has no role.
This is a critical aspect that all loan borrowers must know about emergency funds. MoneyMutual is a lending company that only bridges the gap between lenders and borrowers. This means you're responsible for negotiating the terms or other criteria directly with the lender when you qualify.
Most lenders have specific terms and conditions. These include the interest rate that borrowers can discuss with the lenders directly. On average, a lender can offer you $5000 to $35000 in loan. However, the amount range is based on a variety of variables.
Rates can also vary as per the terms and criteria of the lender you connect with. But payday loans are typically high, ranging from 200 percent to 1300 percent.
MoneyMutual Loan Limits to Consider
The MoneyMutual platform provides people with immediate cash and meets their requirements by connecting them with more than 60 lenders. You can apply for a loan as low as $5000 or as high as $35000, depending on your needs.
The portal can also provide you with smaller loans between $300 and $500. In fact, small amount loans are more common than high amount loans.
As MoneyMutual is just a “connection platform” in the lending process to help borrowers find potential lenders, it doesn't intervene or affect the terms and conditions applied. The terms in the loan-taking process are set by the lenders. You can discuss them directly with the lenders.