Brookwood Loans has been in business for many years and are licensed and regulated as required by law. Their internet-based loans are designed for people who have fair-to-good credit and a stable income. They’re currently offering loans in Alabama, Georgia, Missouri, New Mexico, South Carolina, Texas, Utah, Virginia, and Wisconsin. The company advertises its services at brookwoodloans.com.
- BBB A+ Rating
- Minimum Debt $10,000
- No Minimum Credit Score
- $3 billion+ debt resolved
- BBB A+ Rating
- Minimum Debt $7,500
- No Minimum Credit Score
- $500 million debt resolved
Brookwood Loans Summary
Making the choice of which lender to use for a loan can be tricky. With all the different options, it is essential to compare lenders and find the one that will best fit your needs. Lately, Brookwood Loans has been getting a lot of attention. But is this the right lender for you? Here is a more in-depth look so you can make an informed decision.
After taking a close look at the website and terms and conditions of Brookwood Loans, our team found some interesting things. Here are a few highlights from our findings.
- In most states, it offers unsecured loans of $1000, $1500, $2000, $2500, and $3500.
- Loans’ APRs range between 59% and 116%.
- The lender is licensed and regulated by the New Mexico Regulation and Licensing Department.
- Terms go up to 36 months.
- Payments are withdrawn automatically from your checking account monthly on your due date.
Brookwood Loans does not offer loans in the following states:
ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, RHODE ISLAND, SOUTH DAKOTA, TENNESSEE, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WYOMING, PUERTO RICO.
What is Brookwood Loans?
Brookwood Loans is a trusted name in consumer finance, with years of experience helping people get the loans they need. Their internet-based loans are designed for people who have fair-to-good credit and a stable income. This company has multiple locations. You can reach them via phone by calling (800) 324-4061.
Brookwood Loans is a reputable company with an A+ rating from the Better Business Bureau. However, it is important to note that this company is not accredited by the BBB. They have 0 reviews and 1 complaint closed in the last 3 years.
How do Brookwood Loans work?
Brookwood Loans offers easy and convenient consumer loans with monthly payments spread out over 36 months – just like a car payment. The first payment is due one month after you sign your loan agreement, and then payments are due on the same day each month after that.* And there are NO hidden fees or “Balloon Payments.”
To apply, simply complete their online application. They’ll just ask you to fax in a copy of your driver’s license and a voided check. You’ll then have the chance to review the payment terms and decide whether to accept or reject the loan offer. And executing the loan agreement is as easy as completing it electronically.
You can expect to receive your loan funds within one business day, as long as you complete the agreement process online before 1:00 PM Eastern Time. Otherwise, you will receive the funds on the next business day.
How to qualify for Brookwood Loans?
In order for you to qualify for Brookwood Loans, you must be at least 18 years old and have a valid Social Security Number. In addition, you must have a checking account with a US bank in your state of residence. They are currently accepting applications from residents of the following states: Alabama, Georgia, Missouri, New Mexico, South Carolina, Texas, Utah, Virginia, and Wisconsin.
To get a loan from Brookwood Loans, you will need to provide the following documents:
- A copy of your driver’s license
- A voided check from an active checking account
- A copy of the most recent bank statement
- Certain tax documents
Brookwood Loans BBB Reviews
Brookwood Loans is not accredited by the Better Business Bureau (BBB), but they do have an A+ rating from the BBB. They have 1 complaint closed in the last 3 years.
Here are some reviews:
Initial Complaint 11/08/2021
Complaint Type: Advertising/Sales IssuesStatus: AnsweredMore info
Brookwood Loans FAQs
How much do Brookwood Loans charge?
Brookwood Loans offers a wide range of loans with APRs ranging from 59% to 116%. Check your rates here.
Are there any pre-payment penalties?
There are no prepayment fees with a personal loan from Brookwood Loans. You can save on interest by paying the loan early, and there are no application fees.
How do Brookwood Loans affect your credit?
When you’re considering taking out a loan, lenders like Brookwood Loans will often do a soft credit pull to give you an idea of the interest rates and loan terms you may qualify for. This doesn’t affect your credit score in any way.
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However, once you decide to go ahead with the loan application, they’ll need to do a hard credit inquiry to get a full view of your credit history and offer you final rates. These hard inquiries are common when applying for loans and can lower your credit score and affect your credit.
How to cancel Brookwood Loans?
Applying for a personal loan should not be taken lightly. Once you have been approved and the funds have reached your bank account, you will not be able to cancel or reverse the transaction. Therefore, make sure you are confident in your decision before proceeding with an application. This way, you can avoid any unwanted cancellations or changes later on.
Are you struggling to make ends meet? Here are some tips that could help you get back on track.
There are a few key things you can do to get your finances in order.
- First, create a budget and stick to it. This will help you stay on track and avoid overspending.
- Another helpful tip is to speak with a financial advisor. They can help you understand your options and devise a plan that works for your unique situation.
- Finally, don’t worry too much about debt. Many companies are willing to work with customers to create a more manageable payment plan. So reach out to their customer service team for more information. With these tips, you’ll be on your way to financial success!
Is Brookwood Loans legit or a scam?
Brookwood Loans has been providing consumers with financial assistance for many years. It offers a variety of personal loans for different purposes and has an excellent rating with the Better Business Bureau. However, the company is not accredited by the BBB. It has only one complaint on record, but no reviews. The majority of online reviews are negative.
Before taking out a loan, it is crucial that you compare rates and terms from different lenders. This way, you can ensure that you are getting the best deal possible. Additionally, be sure to read customer reviews so that you have a better understanding of the lender you are considering.
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Brookwood Loans Review
Brookwood Loans Review
Brookwood Loans has been providing consumers with financial assistance for many years. It offers a variety of personal loans for different purposes and has an excellent rating with the Better Business Bureau. However, the company is not accredited by the BBB. It has only one complaint on record, but no reviews. The majority of online reviews are negative.
