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Prosper Home Equity Loans Review

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Prosper is a San Francisco-based peer-to-peer lending company that pairs investors with borrowers looking for personal loans. The company has recently branched into home equity lines of credit (HELOCs) through its partnership with BBVA USA. Its HELOCs are currently available in Alabama, Florida, and Texas.
 
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How Do We Rate Prosper?

Breakdown

Our Overall Rating: 0 / 5 (N/A)

Prosper has partnered with the established bank BBVA USA to offer home equity lines of credit (HELOCs) to residents of Alabama, Florida, and Texas. Its offerings are pretty competitive with the top home equity lenders in the nation and its repayment terms include fixed and variable rate options. Its biggest shortcoming is its currently limited availability, but if you live in one of the states Prosper currently serves, it's definitely worth getting a free online quote to see what it can offer you.

Prosper Features

Lender Type
3rd Party Marketplace
Loan Types Available
Home Equity Line of Credit
Minimum HELOC
$2,500
Max HELOC Draw Period
10 years
HELOC Annual Fees
$75
Cash-out Refinance Terms
10- or 15-year fixed- or variable-rate term

APR Disclosure

Recent APRs range from 5.80% to 11.25% depending on your credit history and the Wall Street Journal U.S. Prime Rate, according to Prosper. APRs will not exceed 18% or go below 3.50%.

Prosper Qualifications

Prosper Customer Experience

Total Consumer Financial Protection Bureau Complaints
264
Site Features & Technology
Online Application
Online Quote
Memberships & Accreditations
Equal Opportunity Lender
Member FDIC
Nationwide Mortgage Licensing System ID
402936
Nationwide Mortgage Regulatory Actions
0
Trust Pilot Rating
1.6 out of 5
BBB Rating
A+
Date Collected
2019-09-16

Contact & Additional Information

Homepage URL
https://www.prosper.com/heloc
Company Phone
(800) 954-2172
Headquarters Address
221 Main St., Ste. 300, San Francisco, CA, 94105
Year Founded
2005

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