Wells Fargo is one of the nation’s biggest banks. If you don’t want to visit one of their 5,400 branches across the U.S., you can access info on their website — existing customers can apply online or over the phone. Wells Fargo offers competitive rates, a big range of loans, and less stringent credit requirements than others.
Pros
- No origination fees and prepayment penalties
- Fast funding times
- Relationship discounts available
Cons
- No prequalification option
- New customers need to apply in person
- At $3,000, the minimum loan amount is higher compared to other lenders
Other important information:
- Maximum/minimum amount you can borrow: $3,000 to $100,000
- APR range: 5.74%–20.24% (includes relationship discount)
- Minimum recommended credit score: 670
- Fees: None
- Other qualification requirements: Applicants need to sign up for autopay from a qualifying Wells Fargo bank account to qualify for rate discount
- Repayment terms: 12 to 84 months
- Time to receive funds: As soon as the next business day
- Restrictions: New customers cannot apply online