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Prosper

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Rating

4.0/5

Prosper

Pros

  • Quick Decisions: Provides instant decisions with funds available within 1-3 business days

  • Rate Transparency: Uses clear letter-grade system (AA-HR) to determine rates upfront

  • Multiple Income Sources: Considers self-employed, retirement, and investment income for qualification

Cons

  • High Origination Fees: Charges 2.41% to 5% origination fee deducted from loan proceeds

  • Limited Term Options: Only offers 24 or 60-month terms with no flexibility

  • Strict Requirements: Minimum credit score of 640 with debt-to-income ratio below 50%

image-f2a62a86a966ecd1c161edcde5281ee453e24100-400x400-png

Prosper

Logo

Rating

4.0/5
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