Personal Loans

A personal loan, often called a signature loan, or a good faith loan, is a type of unsecured personal loan offered by a financial institution. The primary requirement of these loans is the borrower’s signature and their promise to pay. Most institutions may also check a borrower’s credit score, and some require a loan cosigner. Like other loans, you'll make fixed monthly payments during your loan term until it's paid.

Personal loans are an unsecured term loan. This means that the loan isn’t secured by collateral, like a borrower’s car loan or home mortgage. The term requires that the loan is paid off during a predetermined timeframe, which is typically through monthly payments during the duration of the loan term.

Personal loans can be used for a variety of purposes, including:

• Major expenses like medical bills, home improvements and emergencies
• Debt consolidation to pay off high-interest credit cards or loans
• Short-term expenses like taxes, vacations and weddings

Note: Many lenders restrict using personal loans for investments, down payments and business expenses.

Mountain America offers flexible personal loans to help you finance your everyday needs. With competitive interest rates as low as % APR, our personal loans offer a cost-effective option for your expenses. Additionally, no collateral is required. Depending on your situation, we offer flexible repayment terms up to five years.

While rates for personal loans may be higher than rates for secured loans, you will almost always get a lower rate than a credit card with a personal loan.

You can apply for a personal loan at Mountain America here or in person at your nearest branch location.