Whether you're gearing up to invest in your first home or looking for a timely solution to an unexpected expense, the dedicated financial experts at Liberty Bank can help you secure a loan that's precisely suited for your unique needs.
At Liberty Bank, we've developed our selection of personal lending services to address the diverse needs of our customers. Regardless of your financial situation, we'll help you determine precisely how much you can borrow, along with the interest rate you can expect when borrowing from Liberty Bank. We'll also explore any other options that may be available.
The Freedom Fast Loans are Liberty Bank's unsecured personal loans. Available at amounts up to $25,000, these loans are an excellent choice if you need financing fast.
For many, a working vehicle is an everyday necessity. That's why we offer flexible loans with competitive interest rates for both new and used vehicles. Get pre-approved before you head to the dealership.
This financial solution blends the benefits of a revolving personal line of credit with the effortless access to funds offered by a home equity loan.
From fixed-rate to adjustable-rate mortgages, we're proud to offer an assortment of loans designed to help you pay for your dream home.
Below you will find answers to common questions about Personal Loans and the lending process at Liberty Bank. Click on a question below to reveal the answer.
A personal loan is an unsecured installment loan given to the borrower as a lump-sum payment. Unsecured simply means the loan is not backed by collateral such as a home, boat or car. These loans are typically available from a traditional bank, credit union or online lender, and like other installment loans, are paid back in equal monthly payments with a fixed interest rate.
Unlike credit cards, which tend to have high interest rates, personal loans have a fixed repayment term, so they often come with lower interest rates, especially if you have a good credit score.
Personal loans can be used for all sorts of expenses, like debt consolidation, home improvement, auto expenses, medical expenses, credit card payoff, small businesses, or large purchases.
However, the most common personal loan use is consolidating high-interest credit card debt. Often when you take out a personal loan, you can get a lower interest rate than a credit card, make one monthly fixed payment and save on interest by paying your debt off sooner.
Since there's no collateral, qualifying for a personal loan is ultimately determined by your credit history, income, other debt obligations and monthly cash flow.
While each lender varies, lenders typically look for a minimum acceptable credit score that falls within a range of 600 to 700+.
The main reason lenders ask for documentation is to help verify your identity and income. When documentation is needed, typically you'll be asked to provide: