Question 1

Will filling out the prequalifcation form affect my credit score?

Accepted Answer

No, when you complete the prequalification form, lenders perform a "soft" credit inquiry. This allows you to compare lender offerings without affecting your credit score.

Question 2

Can I payback my loan early without penalties?

Accepted Answer

Yes, all 13 of there lenders have no pre-payment fees which means you can pay back your loan before the end of its term at no additional cost.

Question 3

What is the minimum loan amount?

Accepted Answer

In most states, the minimum loan amount is $1,000, but Hearth's recommend requesting at least $2,000, as several of Hearth’s lenders only make loans of $2,000 or greater.

Question 4

How is APR determined for prequalified offers?

Accepted Answer

Lenders look at many factors, including as your credit history, current debt-to-income ratio, your income, and your expenses in assessing your creditworthiness.

Question 5

What is the differences between secured and unsecured loans?

Accepted Answer

An unsecured loan is not linked to a specific piece of property ("collateral") that the borrower agrees to give to the lender if the borrower does not pay back the loan. A secured loan, in contrast, always has some form of collateral, like a car or a house of which the lender can take possesion in the event of default.

CAMPS CONTRACTORS

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Does not affect credit score

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