Rates & Fees Disclosure

Effective Date: April 30, 2025

This page explains the general rate structures, repayment terms, fees, and cost examples associated with personal loans offered by third-party lenders accessible through the Lender Compare mobile application, operated by Lender Compare Network LLC (“we”, “our”, or “us”). We are committed to providing consumers with clear, comprehensive information that helps them make informed financial decisions.

Please note: Lender Compare is not a direct lender. We do not issue loans or determine rates or fees. Loan offers are made by licensed third-party lenders who evaluate your submitted application based on their own criteria. This page is intended to offer a general overview of the types of rates and fees that may be encountered when using our service.

1. Understanding APR (Annual Percentage Rate)

The Annual Percentage Rate (APR) represents the total cost of borrowing expressed as a yearly interest rate. It includes interest and certain fees (such as origination charges) to reflect the full cost of credit. It is the most standardized way to compare different loan products, regardless of repayment terms or loan amounts.

APR Range

Lenders in our network typically offer APRs ranging from 4.99% to 35%. The APR you are offered will depend on various factors, including:

• Your credit score and credit history
• Income and employment status
• Debt-to-income ratio
• Loan amount requested
• Selected repayment period
• State-specific lending regulations
• Lender-specific underwriting practices

It’s important to note that while lower APRs are generally available to borrowers with strong credit profiles, even those with fair or limited credit may still qualify for reasonable rates depending on the lender.

2. Repayment Periods and Structures

Borrowers typically have the flexibility to choose repayment terms that suit their financial goals and monthly budget. Our lender partners usually offer terms between 90 days (3 months) and 24 months (2 years).

Common Repayment Options:

– Faster payoff, but higher monthly payments.
– Medium-Term (6 to 12 months): Balanced payment-to-term ratio.
– Long-Term (12 to 24 months): Lower monthly payments, but more total interest over time.

Some lenders may offer biweekly repayment options or automatic debit incentives. Confirm these options when reviewing your specific loan offer.

3. Representative Loan Example

To help illustrate how interest and loan structure work, here’s a sample scenario:

4. Types of Fees That May Apply

While many lenders offer loans with transparent pricing, some may apply additional fees to cover administrative, compliance, or risk management costs. These may include:

• Origination Fees: Charged at loan issuance, typically 1% to 5% of the loan amount. May be deducted from your funds or added to the principal.
• Late Payment Fees: Imposed if you miss a scheduled payment or pay after the grace period. Commonly $15–$40 or a percentage of the missed amount.
• Non-Sufficient Funds (NSF) Fees: Applied if your bank account lacks sufficient funds to cover an automatic payment.
• Prepayment Penalties: Most lenders do not charge these, but check the loan agreement to confirm.
• Check Processing or Paper Statement Fees: Occasionally charged by lenders for offline or mailed payment options.

All fees must be clearly disclosed by the lender in your Truth in Lending Act (TILA) disclosures and loan agreement. Lender Compare does not control these fees and receives no portion of them.

5. No Cost to Use Lender Compare

There is no fee to use Lender Compare. Our platform is 100% free for consumers. We are compensated by partner lenders only when a user is connected with a loan product through our referral system. This compensation has no influence on the terms you receive and does not increase your APR or fees.

6. Credit Check and Credit Score Impact

Lenders may perform a credit inquiry when assessing your loan request. This may be either:

• Soft Inquiry: Used for prequalification purposes. Does not impact your credit score.
• Hard Inquiry: A formal credit check performed if you proceed with a lender’s full application process. May have a minor, short-term effect on your credit score.

Lender Compare does not conduct credit inquiries directly and cannot access or affect your credit file. Credit checks, if conducted, are performed solely by the third-party lender.

7. Legal Lending Limits and State Variations

Loan terms, maximum APR, and fees may vary based on your state of residence. Many U.S. states have consumer protection laws that place limitations on:

• Maximum APRs for personal installment loans
• Permitted fees and charges
• Minimum or maximum repayment terms
• Lender licensing and bonding requirements

We only work with licensed lenders operating in compliance with applicable state and federal regulations. Loan offers may not be available in all states, and certain users may receive no offers due to legal restrictions or lender availability.

8. Responsible Borrowing Notice

We encourage all users to borrow only what they can reasonably afford to repay. While personal installment loans can provide short-term financial relief, they also carry obligations and costs that must be weighed carefully. Consider your monthly budget, employment stability, and other debts before committing to any loan.

Lender Compare Network LLC supports responsible lending and financial literacy. Our platform is designed to provide loan options, not to pressure you into borrowing. You are always free to decline any offer presented through the App.

9. Reviewing Your Loan Agreement

Before you accept any loan offer, you will receive a formal loan agreement and a Truth in Lending disclosure from the lender. These documents outline:

• The full loan amount and disbursement details
• APR, interest rate, and total cost of credit
• Repayment schedule and due dates
• Late fees, penalties, and other charges
• Your rights and obligations as a borrower

We strongly recommend reading all lender documentation thoroughly before signing. Do not proceed unless you understand and agree with the terms presented to you.

10. Additional Examples for Common Loan Sizes

These examples are for educational purposes only. Actual loan terms will be determined by your selected lender.

11. Questions or Concerns?

Our customer support team is available to help clarify any concerns you may have regarding rates, fees, or how the loan matching process works through Lender Compare. While we cannot provide financial or legal advice, we can assist you in understanding how the platform works and guide you toward responsible borrowing.

12. Contact Information

Lender Compare Network LLC
Email: support@lendercomparenetwork.top
Support Hours: Monday – Friday, 9:00 AM – 5:00 PM EST