Credit Builder Loan

What is a builder loan?

  • This is an account that works more like a savings account but reports like a loan

  • This is great for individuals who could use a loan reporting to the bureaus but don't really need to take on a new loan

  • Specifics on the builder loan listed below:

    • No Hard Inquiries​

    • You choose the amount of money each month that you want to deposit into an account.

    • You will deposit as little as $25.00 each month for 12 - 24 months.

    • Each month, if you make your payment on time, Self Lender will report to all 3 credit bureaus that you are making your loan payment on time.

    • Because they do report to all 3 credit bureaus, be sure to make your payment on time, or contact them to make arrangements.

    • At the end of your "loan terms" you will receive your loan money back.

      • There is a small percentage that they take

      • The website/application should be able to answer any additional questions that you may have

    • Be advised, that if you are late, and do not call to make arrangements, they will be forced to report a late payment to the bureaus. 

Where can I get a builder loan?

 

  • Click here to apply for the above listed Builder Loan 

 

Can I get a builder loan somewhere else?

  • Of course you can! 

  • We just recommend knowing that they report to all 3 bureaus. 

    • If they don',t it won't impact the credit bureaus that they do not report to​

    • Since this does cost you money we don't want to see you waste it!

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