Personal Loans in Virginia
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Funding up to $100,000 and APRs as low as 4.99%1
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Virginia Personal Loans
Personal loans in Virginia can help residents consolidate debt, fund home improvements, cover emergency expenses, afford the wedding of their dreams, and so much more. With most personal loans having no spending restrictions, the opportunities a personal loan can provide are almost endless. However, a personal loan is still a financial commitment that costs money. So, you’ll want to be sure to find the best personal loan that works for your budget.
Quick. Simple. Secure.
How To Apply For Personal Loans in Virginia
Fill out easy online form to check for pre-qualified offers with no impact to your credit score
Compare terms and payment options to select offer that’s best for you
Complete application process on your selected lender’s website
After loan approval, your funds should arrive within 1-2 business days2
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)
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FREQUENTLY ASKED QUESTIONS
Learn More About Personal Loans in Virginia
Keep reading to learn more about getting a personal loan in Virginia.
Read more - FAQ
Where can I get a loan in Virginia?
Can you get a personal loan in Virginia?
What is the minimum loan amount in Virginia?
However, personal loans are not typically offered in amounts of less than $1,000. Loans in amounts ranging from $1,000 to $5,000 are also known as microloans and are most commonly offered by online lenders such as Prosper, Upgrade, OneMain Financial, and LendingPoint.
What is a jumbo loan amount in Virginia?
The GSE 1-unit limit is just $647,200 in some counties, with other counties such as Fairfax seeing limits as high as $970,800. In addition, the FHA 1-unit limit is just $420,680 in some counties with other counties such as Fairfax seeing limits as high as $970,800.
Jumbo loans may require stricter application requirements from borrowers including a lower debt-to-income (DTI) ratio, a higher annual income, and a higher credit score. Borrowers who do not qualify based on these terms should still be able to apply for a jumbo loan using the services of a cosigner or a co-borrower to help them obtain their loan.
What is the maximum interest rate allowed in Virginia?
Virginia state law specifies that the legal maximum rate of interest is 8% unless otherwise specified in the contract. For this reason, it is very important to double check the terms of your financing agreement very carefully to avoid being taken advantage of by unscrupulous lenders.
There is one other exception to the usury law in the state of Virginia and that is for payday loans. The maximum APR on payday loans is capped at 36%, which is extremely high.
Does Virginia offer installment loans?
Installment loans are typically unsecured and do not usually require a down payment with the exception of mortgage loans and some home renovation loans.
In addition, the state of Virginia allows payday loans (which are not a form of installment loan) in amounts of up to $2,500. In addition, Virginia regulates the loan repayment period for a payday loan of between 4 months and 24 months, which is different from other states.
What Virginia bank is easiest to get a personal loan from?
According to WalletHub, some of the top Virginia banks include: Pendleton Community Bank, Taylor Bank, EagleBank, Skyline National Bank, Chesapeake Bank, Freedom Bank, Bank of Botetourt, First Bank, Essex Bank, Lee Bank, Sandy Spring Bank, Farmers Bank, Bank of the James, The Bank of Marion, and First Community Bank.
Any of these banks would be a great choice for taking out a personal loan or other loan.
In addition, top-rated credit unions in the state of Virginia include: Navy Federal Credit Union, Anheuser-Busch Employees’ Credit Union, Agriculture Federal Credit Union, State Farm Federal Credit Union, Belvoir Federal Credit Union, Norfolk Federal Credit Union, Hanscom Federal Credit Union, Eastman Credit Union, and Dominion Energy Credit Union.
Credit union membership is typically based on your place of employment or residence. Be sure to check a few local credit unions near you to see if you qualify for membership.
Is it a good idea to get a personal loan in Virginia?
Personal loans allow consumers to finance and pay for a variety of expenses that they may not otherwise be able to afford upfront, including vacations, medical bills, large purchases, home renovations, business startup costs, and emergencies and other unexpected expenses.
At Acorn Finance you can check personal loan offers between $1,000 to $100,000, depending on credit score. Simply, complete the form online and within 60 seconds or less you can receive personalized offers. The initial process of checking offers will not impact your credit score. Our network of lending partners include SoFi, LightStream, Prosper, and many more well known names. APRs start at just 3.99%, depending on credit score.
Discover the best personal loans in Virginia. . . check offers online today!
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