Five Best Personal Loan Companies No Origination Fees - YouTube

hey everyone today I am gonna tell you the five  best personal loan companies without origination  

fees and this is a huge deal because origination  fees just add up to more money that you owe and  

there are some wonderful companies that do not  charge them so I highly recommend checking out  

this video so that you don't have to pay more  money let's jump right in hey everyone this is  

Lauren Mac with hack in the rat race and I would  love for you to hit the like button and subscribe  

so you don't miss any more videos on money saving  and investing today we are gonna go over the best  

five personal loan companies with no origination  fees first I would like to say that I am NOT a  

financial planner CPA this is not legal advice  this is not financial advice where you make any  

financial decisions make sure you speak to your  financial advisor now that that said I would also  

like to say that I think using personal loans is  a great way to pay off debt especially revolving  

debt like credit cards but other debt too however  I don't think personal loans are good thing to  

finance building a pool or just getting into more  debt so I am making this video mostly aiming for  

people to be able to pay off their debt faster and  if you are interested in learning more about the  

power of a personal loan especially when paying  off a revolving debt like credit card debt I made  

another video I'm gonna link to it above in the  show notes below cold the only way to pay off  

credit card debt when you are broke with that  being said let's jump right into the five best  

personal loan companies so number one is sofa so  let's check out the details of right now sofa is  

a really great company so for sofa you can apply  for large loan amounts up to a hundred thousand  

dollars and you can pay this back over seven years  and another great thing is if you use auto-pay  

which I highly recommend anyways you get a quarter  of a percent rate discount which over time can add  

up to a lot of money and like all the other ones  on this list there are no origination fees they  

have no proof at penalty in addition to not having  any fees they also have perks for their members  

which include discounts on products special events  and things like that and for sofa good credit is  

required they haven't actually given like exact  credit scores that they're aiming for which can  

be good if you don't have great credit so I would  highly consider sofa the next one I like is light  

Stream the only downside to light shreem it's not  really a downside is that you just need to have a  

little bit higher credit score about 740 or above  so if you have a lower credit score this one may  

not be a good option but they have really low  interest rates sometimes as low as three point  

nine nine percent if you enroll with Auto pay  which again like I said I always recommend that  

they have no origination fees no hidden fees  and for light stream as well you can get up  

to a hundred thousand dollars and repay it over  seven years this is another good option if you  

have good credit and you're trying to pay off your  revolving credit card debt fast the next option is  

Marcus by Goldman Sachs and this is also a really  good option they don't have fees they don't have  

origination fees they have no fees they don't  even have a late payment fees the only other  

downside is you cannot have a cosigner on one of  these loans I would definitely look at Marcus by  

Goldman Sachs if you were looking at paying  off your debt because another benefit is when  

you get this loan if you are telling them you're  paying off debt they will make payments directly  

to your creditors so it completely streamlines  the process versus other personal loans where  

you get the payment then you have to go pay off  your debt you tell them what debt you're paying  

off and they will pay it to them directly which  completely streamlines the process for you so  

this is a huge perk of using Marcus by Goldman  Sachs the next company is discover and the great  

thing about discover is their minimum Viko score  is around six hundred and sixty so if you don't  

have really great credit you could still qualify  for this their repayment terms are three to seven  

years and their loan amounts are 2500 to around  $35,000 this could be great and also will pay  

your creditors directly like Markus at Goldman  Sachs so this is another great option like all  

of these they don't have origination fees so if  you are thinking about getting a personal loan  

to pay off your debt and maybe you don't have a  great or really good credit score then discover  

is going to be a really good option to consider  and the last option is PNC and this one is really  

great because you can get small loans starting  at just a thousand dollars so maybe you have  

twenty five hundred dollars in credit card debt  you want to pay off and you have a super high  

interest rate on your card you could literally get  twenty five hundred dollars with PNC some of the  

other ones start at like five thousand or maybe  ten thousand so if you have even four thousand  

dollars on your credit card that you want to have  a personal loan you may also not qualify for some  

of the other options but for PNC you can and they  also don't have origination fees they also have  

the quarter percent rate discount if you put it  on auto pay and also you only need a 680 credit  

score which is a little bit higher than discover  but it is not really high like some of the other  

ones I mentioned above so PNC if you have a lower  amount can be a great option and even if you have  

a higher amount it could be a great option but  this is one that kind of captures some of the  

people who maybe don't have over $5,000 but still  would like to get a personal loan to get all the  

benefits of consolidating your revolving credit  card debt with a personal loan another great  

benefit of PNC is that they Lao co applicants  so let's just say you have a really low credit  

score and you would not qualify you could get a co  applicant that maybe has a good credit score maybe  

like a friend or a family member and you could  possibly qualify for this loan that way however I  

never think that's a good idea because I can cause  so many problems and if you're listening to this I  

definitely wouldn't be a co applicant for someone  else but if you know someone who's willing to be a  

co-op looking and you have a really low credit  score then this PNC personal loan could be a  

really good option for you I told you I was gonna  give you the top 5 personal loan companies with no  

origination fees which I have done these are all  great companies and depending on your situation  

and what bucket you fall into these could be great  options for you however whenever you get an offer  

you might want to look at what the interest rate  they're offering in the terms etc another bonus  

tip would be take those offers maybe go to your  local banks and credit unions oftentimes they  

will also give you personal loans and maybe if  you've been banking there for a long time you  

have good history maybe they can give you better  terms maybe a better interest rate so definitely  

look at these but then I would at least go look at  your bank that you've been using for a long time  

because they might even give you more favorable  options that is a good bonus tip but whichever  

you choose rather it be you were personal bank  or any of the five I mentioned here just make  

sure that you are looking at the APR on the offers  are giving you that will kind of give you a palapa  

'ls of how much you are actually having to pay to  repay this loan make sure especially if you go to  

your local bank you are paying no origination  fees you do not want a prepayment fee I mean if  

you can get away with having no fees like some of  the ones I mentioned before like no late fees no  

NSF fees these kind of things I would definitely  highly recommend looking at that too because all  

of this will add up to the amount that you have  to pay and like I said earlier late fee shouldn't  

be such a big deal because it's really important  especially to keep your credit score up that you  

are making the payments for this on time but by  using a personal loan you can literally crush  

your debt and pay it off so fast so I highly  recommend looking into consolidating your debt  

into a personal loan I want to hear from you  in the comments below do any of these companies  

interest you is there a company that you know that  you love that you could recommend to our community  

just make sure that they have no origination fees  because that is so important thank you so much for  

watching this video please don't forget to hit  the like button it literally cost you nothing  

and it does so much for this video and it pushes  this video out to other people who are considering  

getting a personal loan to pay off their debt and  don't forget to subscribe you don't miss any more  

videos on money saving and investing thanks again  and I look forward to seeing you in the next video