EVEN Financial 2023 Review
Even Financial Overview
Since 2014, EVEN Financial's free matching service has connected borrowers with some of the top lenders in the industry through an algorithm-based loan comparison marketplace.
EVEN Financial partners with top lenders like OneMain Financial, LendingClub, Prosper, Avant, Rise Credit, LightStream, Social Finance (SoFi), and Upstart. Borrowers can receive pre-approval from many of these lenders in just a few seconds, and they can use these loans for personal uses like debt consolidation or buying a home or car.
Once you apply, you can receive pre-approved loan offers within a few seconds. EVEN will show you basic data like your estimated monthly payment and overall loan cost.
EVEN's lending partners provide your loan funds via direct deposit, so you may receive money as soon as the next business day.
EVEN Financial Pros
- 100% Free Service: EVEN Financial's loan matching service is 100% free and will not affect your credit score. They offer a free loan rate comparison service and no upfront or hidden costs.
- Save Time & Compare Offers From The Best Lenders: You can view and compare multiple lenders in just a few seconds after filling out a short application. You have access to top lenders from EVEN Financial and can easily shop for the best loan rates and terms for your situation.
- Trusted & Experienced Service: EVEN has processed over $5 billion in consumer applications (personal loans, mortgages, and credit cards), and originated over $200 million in personal loans in 2017 alone.
- No Negative Credit Consequences: The EVEN loan pre-approval process does not negatively affect your credit score (only a soft credit pull is performed).
- Additional Benefits: EVEN Financial provides additional tools such as a debt refinancing calculator.
- Accredited Service: EVEN Financial has had an A rating from the BBB (Better Business Bureau) since 2015. They have also received praise from the Wall Street Journal, the Finance Magnates, Dow Jones, and Crowdfund Insider.
- Free Educational Resources: EVEN's website also offers an FAQ section and an educational blog for borrowers who may have additional questions.
EVEN Financial Cons
- EVEN Financial is not a direct lender, so interest rates and loan terms are determined by the lenders in the online marketplace.
- Although EVEN Financial works with the top lenders, there are a limited number of providers. Be sure to look at all your offers before deciding on a personal loan.
- The pre-approved offers from EVEN Financial are not the final loan offers. Lenders perform a thorough check on your financial history before giving you a final offer.
- You may be sent additional offers and solicitation through email, phone, and mail.
How Does Even Financial Work?
One of the most important things you can do when you’re applying for a loan or other financial service is shop around. By comparing different lenders, you might be able to secure lower rates or pay lower fees, saving you a lot of money.
Even Financial works by taking your personal and financial information, then using its software to match you with partner lenders. It tries to find the best partner lenders for your financial needs, matching you to the best loan possible.
It works by comparing your personal details with the customer groups that lenders like to work with, matching you with lenders that will be willing to work with you.
Even Financial largely focuses on matching customers to personal loans. These are highly flexible loans that you can use for almost any purpose.
The company also offers a similar service for other financial products, including savings accounts, credit cards, and insurance.
Applying for a loan with Even Financial is relatively quick and simple, making it a great way to compare personal loan offers. Even Financial reviews your application to quickly match you to lenders.
- Loan amount. Let Even Financial know how much you want to borrow.
- Reason for loan. Even Financial will ask why you’re applying for a loan. Some lenders prefer to focus on borrowers who want to borrow for specific reasons, such as debt consolidation.
- Credit rating. Even will even ask you for an estimate of your credit score. It will use this information to match you with lenders, so try to be as accurate as possible to make sure you get matched properly.
- Personal information. Here, you'll even give Even some contact information and personal info so it can identify you and your credit profile. It will also ask for information about your housing situation, income, and employment status.
- Receive loan offers. Based on the information you provide, Even will match you with one or more lenders. You can compare the different offers and choose the one that’s best for your needs. There’s no need to decide right away, so you can take your time to choose the best loan.
Terms and Requirements
Even Financial doesn’t offer loans directly. Instead, it matches you with lenders, each of which has its own requirements and loan terms.
However, universal requirements include:
- You must be a US Citizen or permanent resident
- You must be at least 21 years old
That means that there is no specific minimum credit score or income requirement to apply through Even Financial’s website. Of course, higher credit scores and income can help you qualify for better loan terms.
In general, you can expect your loans to have the following terms:
- Loan amount. $1,000 - $100,000
- APR. 4.99% - 35.99%
- Term. 24 - 84 months
EVEN Financial Pricing
- EVEN Financial is completely free to use. The loan amounts offered in their marketplace range from $1,000 to $100,000.
- EVEN Financial's loan marketplace APR starts at 4.99% and goes up to 35.99% (based on credit score). These rates are highly dependent on the lender.
- Loan terms can range from 2 to 7 years.
- Applicants must have a minimum credit score of 550.
- Funds are provided through direct deposit (some are available as soon as the next business day).
- EVEN financial isn't a direct lender so you must contact your lender’s representative directly to receive the exact pricing and repayment terms. This means that the refund policy differs from company to company.
For Whom is Even Financial Good?
Even Financial is a strong choice for almost any borrower. It uses the information that you provide to match you with good loan opportunities. Its wide range of potential loan amounts, rates, and repayment terms mean that most people will be able to get a good offer by working with the site.
If you’re in the market for a personal loan, you can also consider these alternatives.
- LoansUnder36. LoansUnder36 is similar to Even Financial. However, it primarily focuses on borrowers with less than great credit.
- 5KFunds. 5KFunds is another loan comparison site that focuses on borrowers with fair or poor credit. If you struggle to qualify for loans, you might find a willing lender through this site.
EVEN Financial is a trusted online marketplace that helps borrowers find personal loans with some of the top lenders in the industry.
Their short application can be completed in a few minutes and the quick pre-approval process makes finding the right personal loan for you simple.
Contact EVEN Financial:
Address: EVEN Financial, Inc 45 West 21st Street Floor 5 New York, NY 10010
Frequently Asked Questions
How does EVEN Financial compare to other lending marketplaces?
EVEN Financial's marketplace is unique as they connect borrowers to some of the top lenders in the industry through an algorithm-based platform. They can save you time, as you can fill out one single secure application and connect you to five or more lenders in seconds.
How do I know if I qualify for EVEN Financial?
To qualify for loan offers through EVEN Financial, individuals must be a US citizen or permanent resident, at least 18 years of age, and have a credit score of at least 580. Those who are interested can fill out a page with their basic financial information to see if they are pre-approved by the lenders in EVEN Financial’s marketplace.
Is my information kept secure when I apply through EVEN Financial?
Yes. EVEN Financial uses industry-standard 256-bit SSL-encryption technology to protect your personal information when you submit your application. Your personal details are not sold to other companies. However, your information will be sent to EVEN Financial's trusted partner lenders.
Will my credit be affected by using EVEN Financial?
Submitting an application through EVEN Financial will not affect your credit. However, EVEN Financial's partner lenders may authorize a hard pull on your credit when you have submitted an application with them (which can slightly damage your credit score).
Is Even Financial a legit company?
Yes, Even Financial is legit. You can get matched with legitimate lenders that offer good loans when you use its service.
Reviews for EVEN Financial
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5 out of 5 stars(1 Reviews)
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Our Personal Loans Partners
5KFunds, AmOne, BadCreditLoans.com, Credible Personal Loans, EVEN Financial, Fiona, LendingTree Personal Loans, LightStream, LoansUnder36, Monevo, PersonalLoans.com, Upgrade
|Credit Score Required||None|
|Minimum Loan Amount||$1,000|
|Max Loan Amount||$100,000|
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Teresa Zamora, on February 26, 2020
They look to be on the up and up I'm using them