12 Year Personal Loan Options

Compare monthly payment options from several lenders in under 2 minutes.
How much would you like to finance?
won't affect credit score

Check offers in seconds

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

Won't impact your credit

Checking offers will not impact your credit score*

Competitive payment options

Funding up to $100,000 and APRs as low as 3.99%*

Receive funds quickly

Same-day and next-day available for certain offers*

Acorn Finance Icon

Learn Your Best Options for a 12 Year Personal Loan

If you need a 12 year personal loan, you will want to make sure the lender of your choice can offer that before you apply. Use Acorn Finance to discover competitive loan offers from the best lenders for 12 year personal loans.

Quick. Simple. Secure.

How To Apply For 12 Year Personal Loan Options

1 Pre-qualify

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

2 Select offer

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

3 Finish application

Complete application process on your selected lender’s website*

4 Receive funding

After loan approval, your funds should arrive within 1-2 business days*

COMPARE RATES FROM TOP LENDERS

“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”

 

- Mike T. (TN)

“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”

 

- Carol R (FL)

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”

 

- Bob S (WI)

Are you a contractor?
Generate more revenue with Acorn Finance.

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

FREQUENTLY ASKED QUESTIONS

Learn More About 12 Year Personal Loan Options

While it may be challenging to find a 12 year personal loan, they do exist. In most cases, 12 year personal loan terms are reserved for high loan amounts and borrowers with excellent credit. If you are searching for a 12 year personal loan, you may be trying to get your monthly payment down. While this is a justifiable reason to go for a 12 year term, keep in mind that the longer the term the higher the loan costs may be. Keep reading to learn more about personal loans and terms.

Read more - FAQ

Are there 12 year personal loans?

There are several valid reasons that you may want to seek out a 12-year loan. Maybe the loan amount is close to the $100,000 range? Or, maybe you are looking for the lowest monthly payment requirements possible? Personal loan repayments periods depend entirely on the lender. Some lenders may have only a 7-year or 10-year personal loan available, but if you spend a little time reviewing all the different online lenders currently on the lending market, you may be able to find the 12-year personal loan you were looking for.

What are the benefits of a 12 year personal loan?

Long term 12-year personal loans are advantageous for both individuals and for small businesses starting out that may not qualify for a small business loan. It is no easy feat creating your own small business, but if you have reasonable to exceptional credit, it may be a viable option for you to turn your idea into something you can be proud of.

The main benefit for a new business owner just starting out is cash flow. As any small business owner knows, having cash on hand is a great way to pay for inventory, office supplies, and other unexpected expenses that may arise. A long term personal loan could potentially save you a great deal of money when compared to using business credit cards. Business credit cards may have a much higher interest rate with no set pay off date. It may be a good idea to keep a credit card on hand to pay for travel expenses and other emergency expenses, but the more you could use cash on hand, the more you will save in the long run.

One last benefit of a 12-year personal loan is, whether you are a small business or an individual, making your payments on time each month will help you build your credit score. Once your small business is up and running, you may then be able to qualify for a small business loan for a much greater amount that allows you to consolidate your 12-year loan directly into your new loan.

What is the best way to get a 12 year personal loan?

One of the best ways to get a 12-year personal loan is to find an online lender who is willing to work with you to secure a long term loan. With so many online lenders today, it may be your best option to see if you can prequalify for a personal loan on the Acorn Finance website. Simply enter in the amount you need, select a 12-year loan option, and if you prequalify, you can instantly begin to review loan offers from lenders throughout the United States.

How much can I borrow for a 12 year personal loan?

With most online lenders, the maximum amount that you can borrow for a personal loan is $100,000. A loan of $100,000 over 12-years may be a great option for someone looking to start a small business, build a cabin or small vacation home, or to finance a luxury vehicle without the worry of repossession. For a 12-year personal loan you are not required to request $100,000, any loan amount up to that figure will work for an online lender, however, they may request that you take out a somewhat substantial loan amount to make it reasonable for both you and the lender. A 12-year loan for a small amount may have you paying an absurd amount of interest over the life of the loan.

Do I need good credit for a 12 year personal loan?

Ideally, you will want good credit to qualify for a 12-year personal loan. A 12-year personal loan is often for a considerable loan amount that borrowers with poor credit will not qualify for. You may however still qualify for a 12-year personal loan with fair credit. Fair credit may reflect that you are a potential risk for defaulting and that you may have some red flags on your credit report, however, if you can demonstrate a substantial monthly cash flow and you do not have many other existing debts, a lender may still see you as a viable candidate for a 12-year personal loan.

If you are looking for what kind of scores are considered good credit, then you should know that a good credit score is anything above 690. A score of 630 to 689 would be then considered fair. Again, it is not impossible to qualify for a personal loan with a credit score below 689, it just may be more difficult, especially for large long term personal loans.

What do lenders look for when approving a 12 year personal loan?

Lenders are going to look at a few different things when you are applying for a 12-year personal loan. They will want to see that you have a decent credit score and you do not have any recent bankruptcies, home foreclosures, or car repossessions on your credit report. The next thing they will look at is your debt to income ratio. Do you have a solid amount of income coming in each month? What other kinds of debt do you have? If you already have a mortgage and multiple car loans, you may have a more difficult time to qualify for a 12-year personal loan. A good debt-to-income ratio would be anything under 35%. Different lenders will have their own DTI requirements, however, it has been shown that borrowers with a DTI above 43% tend to get denied for loans most often.

Which bank has the easiest personal loan approval for 12 year loans?

Many online lenders will have a simple personal loan approval process. If you are looking for a 12-year personal loan, you may want to consider prequalifying before shopping for a lender. Prequalifying will allow you to shop for personal loans from multiple lenders at the same time, allowing you to find the best interest rates and terms and conditions.

What is the best bank to get a 12 year personal loan?

If you need a 12 year personal loan, you will first need to find a lender that can offer this term. Banks are often more conservative than online lenders. Therefore, an online lender may be your best bet. Depending on your location, there may be some banks that can offer a 12-year term but you’ll need to do some research. At Acorn Finance our lending partners can offer terms up to 12 years. Within 60 seconds or less you can check personal loan offers with no impact on your credit score. This is one of the easiest and fastest ways to find the personal loan that works best for you.

Where can I get a 12 year personal loan online ?

Online lenders are becoming more and more popular as the digital age explodes. Of course with anything online, security is always a concern. Therefore, you will want to make sure you find a legitimate online lender to work with. At Acorn Finance we have a network of trustworthy lending partners that are ready to compete for your business. Using our secure platform you can check offers from our lending partners within 60 seconds or less. Our lending partners can offer loan amounts up to $100,000 and terms up to 12 years.

Closing Thoughts

When taking a 12 year personal loan it’s especially important to be aware of total loan costs. With a longer term loan, your loan costs will likely be higher. To discover competitive personal loan offers in a timely manner you should visit Acorn Finance.

Check personal loan offers with terms up to 12 years. . . visit Acorn Finance today!

ONE HOME, ENDLESS POSSIBILITIES

More home improvement financing options

Your home is a work in progress. Whether you wish to redo, repair or redecorate your home, we can make it all happen with the most effortless financing options.

 

Trending home improvement projects

Barn Financing Options