Rated 4.5 out of 5 on Google
YOU DESERVE A PERSONAL LOAN LENDER THAT SEES YOU
AS MORE THAN JUST A LOAN APPLICATION
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Pick the term that works for you
2 to 60 months – pick the repayment timeframe that works for you -
Be a member, not just a number
Borrow from a Hudson Valley lender who’s been here since 1963 -
Lock in - then lower your rate even more
Lock in a 0.25% rate discount with AutoPay – your rate is fixed for the length of your loan -
Borrow as little as $500
Don’t take on more debt than you need -
Get a little grace
Forgot to pay? No worries – you have a 10-day grace period
STACK US UP AGAINST YOUR OTHER PERSONAL LOAN OPTIONS
| Application Fee | Minimum Loan Amount | Rate Range | Local Help if You Need It | |
|---|---|---|---|---|
| MHV Personal Loan | $0 | $500 | 8.74%-16.25% APR* | Yes |
| Discover Personal Loan | $0 | $2,500 | 6.99%-24.99% APR** | No |
| Sofi Personal Loan | $0 | $5,000 | 7.99%-23.43% APR** | No |
| Lending Club | 3-6% of loan amount | $1,000 | 8.05%-36.00% APR** | No |
*Personal Loan rates range from a minimum of 8.74% to a maximum of 16.25% APR with terms ranging from 1 month minimum to 60 months maximum. Advertised rate based on credit qualifications. Rates will generally be higher for longer-term loans. No application or pre-payment fees apply. For example: 36 monthly payments of $31.62 per $1,000 borrowed at 8.74% will have a total cost of $1,138.41. Personal Loan refinances are not applicable with promotional rates.
Get Started in 4 Simple Steps
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1
Submit your application
Apply online is as little as 5 minutes. The entire process can be completed without ever having to visit a Branch Location. -
2
Prepare your documents
We’ll need proof of income, so have your W2 ready. If you’re consolidating debt, have your credit card account numbers and outstanding balances prepared. -
3
Watch your email
We’ll be communicating with you about the status of your loan application via email. -
4
Get your money
You can choose to receive a check or have the funds directly deposited into your account. If you’re consolidating debt, we’ll mail you checks that you can use to pay off your cards.
Commonly Asked Questions About Personal Loans
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Please visit our Rates Page to see our current rates.
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MHV is a credit union, which means you need to be eligible for membership. Anyone who lives, works, worships, attends school, or volunteers in Ulster, Orange, Dutchess, Rockland, Sullivan, Westchester, or Putnam counties is eligible. Your Savings Account, opened at time of application, secures your membership with MHV.
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There are many factors that impact your eligibility. At a minimum, you must have proof of income and a credit score of at least 640. If you’re self-employed, you will be asked to provide your tax records as proof of income.
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Our underwriters take many factors into consideration when reviewing your application. Two of the most important factors are your credit score and your debt-to-income ratio (DTI). DTI measures how much of your income is already going towards debt. In addition, rates will generally be higher the longer your term.
**Loan information for Discover, Lending Club and Sofi as of 2/22/2023 according to each lender’s website and disclosures.