Upgrade Personal Loans

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Upgrade Personal Loans

No fees, no hassle
  • Competitive Rates
  • Simple Terms
  • Great Customer Service
  • Quick. Simple. Secure.

    How Upgrade Personal Loans Work



    Fill out an easy online form to check for pre-qualified offers with no impact to your credit score

    Select offer

    Compare terms and payment options to select the offer that’s best for you

    Finish application

    Complete your application on your selected lender’s website

    Receive funding

    After your loan is approved, your funds should arrive within 1-2 business days2

    Check Offers for Personal Loans Today

    Check offers
    in seconds

    Get pre-qualified for loan offers with an easy online form

    Won't impact
    credit scores

    Checking offers will not impact your credit score

    payment options

    Compare rates from our network of lenders

    funds quickly

    Same-day and next-day available for certain offers2

    See Upgrade personal loan offers today

    Upgrade Personal Loans for Home Improvement

    Your home may just be the single most expensive investment you might make in your lifetime. That's why it only makes sense to maintain it, right? After all, maintaining and/or improving your home is essential to keep its value from depreciating. Thankfully for homeowners, there are a plethora of financing options out there offered by both public and private entities.

    There are many different types of home improvement loans: See some of the home improvement financing options that you have with Upgrade:

    But let's take a step back and go back to the basics. What exactly is a home improvement loan?

    What Is a Home Improvement Loan

    Not to be confused with home equity loans, a home improvement loan is a type of unsecured personal loan that provides you with the necessary financial assistance needed to maintain or improve your home. Home improvement loans are easier to obtain as opposed to other types of loans as it doesn't usually involve a large amount of money. But, much like other loans, a home improvement loan is dependent on the status of your finances and your overall credit standing.

    So if you're trying to apply for home improvement financing through Upgrade, but don't know where to start? Well, you clicked the right article!

    Let's talk about Upgrade.

    What is Upgrade?

    According to its official website, Upgrade offers an online and mobile banking experience that delivers exceptional value to customers by eliminating fees on everyday transactions. This allows Upgrade customers to make responsible financial decisions so they can have a financially stable future. Upgrade can also assist customers through affordable personal loans, credit monitoring, credit score alerts, mobile banking, and credit building information.

    Are Upgrade Personal Loans Legit?

    Of course! Established in 2017, Upgrade now caters to over 10 million customers that have applied for an Upgrade card or loan. Depending on your credit standing, Upgrade can offer low interest rates and origination fees. In addition, reviews on Upgrade loans from people that want to fund their home improvement plans or consolidate their debt have been generally positive. If you're wondering about what customers say about Upgrade's lending practices, you can always visit Upgrade reviews online.

    Who Are Upgrade Loans Best For?

    Loans from Upgrade are best for people that want to renovate and improve their homes but are currently building their credit. What's great about Upgrade is that it understands that not everyone can have a stellar credit score. Consumers with fair to good credit, who can't qualify for a personal loan without a hefty origination fee, would do well in applying for an Upgrade loan. However, that doesn't mean Upgrade lends to just about anyone.

    Upgrade Personal Loan Application Process

    For your loan application to be approved, Upgrade considers your whole application. This means that Upgrade will look into your monthly cash flow, credit standing, and debt-to-income ratio together with other Upgrade loan requirements.

    Can You Pay Off an Upgrade Home Improvement Loan Early?

    Another thing that sets Upgrade loans apart is that qualified applicants can avail of a loan without prepayment penalties. A prepayment penalty is a fee that lenders charge if you pay off your loans early.

    Odd, right?

    Well, not really.

    Basically, lenders profit from loan interest. This means that when you pay off your loan early, your lender might be losing out on interest payments. Upgrade will not charge you a fee for paying off your loan early.

    Upgrade Loans Review

    How To Apply For an Upgrade Personal Loan

    One of the most common pain points when it comes to loans is the absurd amount of red tape. However, with Upgrade loans, things are a little bit different. Upgrade personal loans offer low fixed rates, affordable monthly payments, and no prepayment fees. Loans of up to $35,000 can be used to refinance credit cards, consolidate debt, fund home improvements, and assist in major purchases.

    So how does the process work? Upgrade's typical loan process usually looks like this:

    Step #1: Rate Check

    Prospective borrowers can determine their rate and how much they could qualify for within minutes with no obligation and no credit score impact.

    Step #2: Choose an Offer

    After checking the rates, borrowers can review multiple loan options and decide which offer is best for them.

    Step #3: Get Fast Funding

    Just how long does it take to get money from Upgrade? Upgrade's fast funding feature sends the money directly to your account within a day of clearing the necessary verifications. This means that you wouldn't have to wait for lengthy home appraisals that come with refinancing your home or home equity loans.

    Step #4: Other Upgrade Loan Requirements

    During the Upgrade loan review process, borrowers may be asked to submit additional documents for information verification. These documents may come in the form of financial documents and identification.

    Upgrade personal loans usually take about 2-5 business days depending on the completeness of your application. Once approved, funds will be sent to the borrower’s account within four business days. Note that this would depend on how fast your bank processes these types of transactions.

    Are There Any Fees with Upgrade Loans for Home Improvement?

    As mentioned above, Upgrade borrowers are subject to an origination fee. All Upgrade personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Qualified applicants also have the freedom to pay their loans early as Upgrade personal loans do not have prepayment fees. Like other lenders, Upgrade also reserves the right to charge subsequent penalties and fees for late payments.

    How Does Upgrade Compare to Other Lenders?

    Choosing the best home improvement lender depends on a myriad of different factors. Don't just rely on Upgrade personal loan reviews when trying to make an informed decision. During these uncertain times, it's always best to have enough know-how when it comes to making important financial decisions. Here are some things to consider when choosing the best home improvement lenders:
    Competitive Rates

    This should be the first thing you look for as rates vary from one financial institution to another. It's worth mentioning that loans from Upgrade have competitive rates compared to other home improvement loan lenders. However, note that your actual rate will still depend on your credit score, credit usage history, loan term, and other factors.

    Quick Processing

    Usually, loan application processing takes about three to five business days of review time. When it comes to Upgrade loans, expect to receive funds within four business days once your loan application has been approved.

    Fewest Fees

    When applying for loans, it's important to factor in the number of fees you would have to pay. Upgrade charges a one-time origination fee which is deducted from your total loan funds. It's also best to pay attention to your payment schedule as Upgrade charges late fees. With Upgrade personal loans, borrowers may incur a late fee of up to $10 if your payment is not received in full within 15 calendar days of your payment due date.

    Repayment Terms That Suit Your Needs

    What's great about Upgrade is that you have the freedom to choose from the loans that you qualify for and pay it back over 36 or 60 months with a fixed rate. Yes, you read that right. Upgrade's rate will never increase.

    Consider Getting Pre-Approved

    Upgrade allows you to check your rate to see which offers you may qualify for. This involves a soft inquiry that is only seen by you and won't impact your credit score. After going through the pre-approval process, you will then receive a pre-approval letter. A pre-approval letter means that you have met the minimum borrowing requirements based on information obtained from your credit report. However, receiving a pre-approval letter DOES NOT guarantee the approval of your loan application as the pre-approval process does not take into account other factors that Upgrade collects from your official online application.

    Apply Today

    Pros and Cons of Upgrade Personal Loans

    Here's a quick breakdown of the pros and cons of Upgrade personal loans for home improvement.


    Fast processing and straightforward application procedure

    You don't need equity to apply for an Upgrade personal loan

    Fixed rates and no prepayment fees

    Prospective Upgrade borrowers can prequalify


    Be careful of high origination fees and interest rates based on your creditworthiness

    Max loan amount of $35,000

    Shorter repayment periods, Upgrade offers personal loan terms from 36 to 60 months.

    Late fees

    “I am adding a hot tub and other patio enhancements to my house. My experience using Acorn Finance was excellent.”

    Tracey E.

    Kentucky | Patios & Decks

    “I am extending my patio. My contractor informed me of possible financing and the Acorn Finance experience was awesome, very easy.”

    Monica L.

    Texas | Patios & Decks

    “The whole process itself was just so fluid, all the way through to the end. I was thinking it can’t be this easy, but it really was!”

    Janina D.

    Kentucky | HVAC

    The process was very easy, simple, and quick. That checks the boxes on my list!

    Diane B.


    Applying for a loan and receiving funds was seamless. The experience was pleasant with no pressure or anxiety.

    J. Hill G.


    Are You A Contractor? Stop Thinking & Start Doing with Acorn Finance.

    Offer customers the ability to finance their dreams with zero dealer fees.

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    Compare Rates From Top Lenders

    Closing Thoughts: Are Upgrade Loans Right for You?

    Upgrade may be a good option for people building their credit score and need a quick injection of funds. However, if your credit score is good to exceptional, you may want to take a look at other options on the market.

    Consider Acorn Finance.

    Acorn Finance offers rates lower than the industry average. With Acorn Finance, applicants can submit an application that would not affect their credit standing. Within a few minutes of submitting your application, expect to receive multiple personalized offers from lenders. It's now up to you to pick and choose which offers best meets your needs.

    The way Acorn Finance works is that it partners with reputable and top-rated lenders in order to increase the competitiveness of rates and help borrowers secure rates within their means. While most personal loans offer repayment terms of two to seven years, you can find terms of up to twelve years offered through Acorn Finance.

    With Acorn Finance, your personal loan will always be on your terms. Visit Acorn Finance to learn more or apply directly below!

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    One home, endless possibilities


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