Integra Credit Rates and Terms in Florida
Actual rates and terms vary based on loan amount, discount usage, information provided in your application and a number of other factors. Please carefully review your loan agreement for the annual percentage rate (APR) and other terms applicable to your loan.
Loan Amount
$500 to $3000
Loan Details (APR)
159% to 249%
Loan Duration
12 to 21 Months
For example, a $1,700 loan that is repayable in 19 monthly payments of $294.04 will have an APR of 187.4216%.
If a payment is not paid in full within ten (10) days after its scheduled due date, you will be charged a late fee of $15.
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Florida snapshot
Here’s an overview of Florida’s population and financial landscape, according to the latest U.S. Census Bureau:
- Population: 23.4 million
- Median age: 42.7
- Median household income: $71,711
- Homeownership rate: 67.3%
- Poverty rate: 12.7%
How do personal loans work in Florida?
Florida borrowers can access various personal loan options to suit different financial needs. Many of these loans are unsecured, meaning you won’t need to offer any collateral to be approved.
Most personal loans have fixed interest rates, so your payments stay the same throughout the repayment term. You can apply for a loan online, at a bank, credit union, or through a licensed consumer finance lender.
Personal loans can be used for many purposes, such as covering emergency expenses, consolidating debt, financing home improvements, or making large purchases.
State regulations permit licensed lenders to offer a range of loan types, although interest rates and terms may vary.
Types of personal loans
Borrowers in Florida have different personal loan options. The right one for you will depend on your financial situation and needs.
Knowing the differences between loan types can help you choose the option that works best for you. Below are some of the most common personal loans offered in Florida:
Unsecured personal loans
Unsecured personal loans in Florida do not need to be backed by an asset, which means you don’t have to put your property at risk to borrow.
Lenders that offer personal loans usually assess your application based on your credit report, income, and financial history.
Interest rates can be higher than those for secured loans, as there is more risk for the lender without collateral to cover if you default.
Personal loans can be used for a wide range of purposes, including covering an unexpected bill, funding a large one-off purchase, or consolidating expensive debt.
Bad credit loans
Bad credit loans are offered by lenders who accept applications from borrowers with low credit scores. A bad credit score is considered to be any FICO score below 580.
Lenders that offer bad credit loans will look beyond your credit score when assessing your application. They look at things like your income, employment, and financial commitments to make their decision.
Bad credit loans in Florida usually have higher interest rates because the lender is exposed to more risk.
Installment loans
Installment loans are a common type of loan where you repay what you’ve borrowed plus interest through regular payments. Installment loans tend to be paid over several months or years.
Installment loans in Florida can vary in amount and are typically used when you need to spread a significant cost over time. This could include expenses such as home improvements, medical bills, or emergency repairs.
Interest is usually charged at a fixed rate, which means your repayments will stay the same for the term of the loan. This can help make it easier for you to budget for your loan payments.
Online loans
Online loans in Florida provide a convenient way to apply for funds without visiting a storefront or a bank in person. They allow you to apply, get approved, and receive your money entirely online.
Many online lenders provide fast application processes, with some offering same-day approval and funding.
These loans are typically structured like installment loans, offering flexible repayment options tailored to your financial situation. They can be especially helpful when you need quick access to money for unexpected expenses.
Personal line of credit
A personal line of credit isn’t considered a traditional personal loan, but it offers a flexible way to borrow money as needed.
Personal lines of credit in Florida function similarly to credit cards. They allow you to access money up to a set limit when needed, and you only pay interest on the amount you use.
As you repay what you’ve borrowed, the amount becomes available to use again. Personal lines of credit offer flexibility for ongoing expenses, making them ideal for occasional access to funds.
Personal loans in Florida FAQs
What is the maximum loan amount I can get in Florida?
In Florida, the maximum personal loan amount can vary significantly depending on the lender. Limits can typically range from a few hundred dollars to tens of thousands, or even higher for secured loans.
Can you get a loan in Florida with bad credit?
You can still qualify for a personal loan in Florida even if you have fair or poor credit. Many lenders look at more than just your credit score when deciding on your loan amount, interest rate, and repayment terms.
A lower credit score may limit some options, but it doesn’t necessarily prevent you from getting approved.
Lenders may also consider your income, employment status, and overall financial history when reviewing your application.
Can I get a personal loan with no credit check in Florida?
Most personal loan lenders will carry out a credit check as part of their application process. This helps them understand your previous credit history and ability to repay the loan.
However, some lenders offer options that include a soft credit check initially, allowing you to see your potential loan terms without impacting your credit score.
Are there credit unions in Florida for personal loans?
Yes, there are many credit unions in Florida that offer personal loans to their members.
To apply, you typically need to become a member of the credit union, which may require meeting specific eligibility criteria based on your location or employment.
How long does it take to get approved for a personal loan?
Loan approval times vary depending on the lender, the type of loan, and how quickly you provide the required information.
Many online lenders can provide a decision within minutes, while banks and credit unions may take one to three business days. Once approved, funds are often deposited within one to five business days.
Is there a limit on the number of loans I can have in Florida?
Florida law does not set a specific limit on the number of personal loans you can hold at one time.
However, lenders may assess your existing debt obligations during the application process to determine your ability to repay.
Managing multiple loans can negatively impact your credit score and increase your debt-to-income ratio, potentially affecting your ability to borrow.
