Does Avant offer credit-builder loans?

To apply for an Avant personal loan, first check for pre-qualification and decide which way you will apply (online or by phone), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for an Avant Personal Loan… read full answer

1. Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for an Avant personal loan. It doesn’t hurt your credit. You can check for pre-qualification on the Avant website.
2. Decide which way to apply. You can apply for an Avant personal loan online or by phone. Applying online is the best way because it typically offers the fastest decision.
3. Enter your personal information on the application. Avant requires the following personal information on the application: your name, home address, housing situation (own or rent), duration of staying at the current address, date of birth, phone number, email and Social Security number.
4. Enter your financial information on the application. Avant requires the following financial information on the application: your monthly housing payment, income type, loan purpose, loan amount, own evaluation of credit score (excellent, good etc) and bank account details.
5. Double check the application for accuracy. To ensure that your Avant personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
6. Submit your application. Avant will typically provide a decision on your application within 1 to 2 business days.

If you are approved for an Avant personal loan, you will generally receive the funds within 1 to 2 business days after approval. After that, it’s your responsibility to make monthly payments until you have fully paid back your loan, including interest.

No, Avant does not allow cosigners on personal loans, unlike some personal loan providers. A cosigner is a second person who serves as a guarantor on the loan, and thus promises to pay the loan back if the primary applicant cannot.

Although Avant does not accept cosigners on personal loans, there are quite a few lenders out there that do. You can check out WalletHub's picks for the … read full answerbest personal loans that allow cosigners to find some good offers.

You can also use WalletHub's free personal loan pre-qualification tool to see which loans you might be able to qualify for even without a cosigner.

Yes, Avant does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Avant's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.

It's worth noting that some people may be uncertain about whether Avant does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.

If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include Integra Credit, NetCredit and Opploans.