Greensky is a financial platform that provides home loans and home improvement products. They serve the loans on the behalf of more than dozens of banks in the United States. If you are willing to gather some information about Greensky policies and greensky credit application, this article is for you.
Greensky Credit Application Some Idea:
If you want to get a home loan from Greensky, Your account credit score must be at least 650. Account-holders who have more than 650 credit scores are the best candidates for the home loan. If you have a poor credit score, you will not be able to get a home loan service.
If you are eligible for a home loan, you will be able to take a loan up to $55,000 with RPS 6.99% to 23.99%. The RPS depends on the time you choose to pay the loan. There are three types of loan. They are 36, 60, or 84 months. If you decide to take a shorter time loan, your RPS will be lower. If you choose to pay the loan for a long time, you will have to pay more.
In a normal loan, the bank funds a specific amount from your bank account. But Greensky works differently, they will load your loan balance into your Greensky Direct Payment Card. Greensky will provide the card if you take a loan. However, the Greensky Direct Payment card can only be used in home improvement merchants and equipment. The spending limit includes home building contractors, big-box home improvement shops, and local hardware stores.
Who are eligible for the loan application?
The good thing about the Greensky loan is, there are no income requirements for the loan. Anyone who meets the criteria below can apply for the loan.
If you are a United States citizen or permanently live here.
If you are at least 18 years old.
If your account credit score is above 650.
Well, the criteria may not include your income requirements, but you should take a loan only if you have ways to pay it on time.
If you take a loan from Greensky, you can spend more than $55,000 on home improvement products and services. The loan APRs starts at 6.99%. The Greensky payment will be due every month. On greensky loan, there is no origination fee or prepayment fee. Currently, 3 loan term is available, 36, 60 or 84 months. Monthly repayment options are also available.
If you think you are eligible for the home loan, at first you will have to complete an online application. The Greensky will review and ensure the eligibility for your home loan. The front page of the application requires personal information and address. On the next pages, they will let you know the rules and regulations of the loan.
However, Greesky home loan is a pretty good deal for some people. And also some people should not go for a loan as some terms and conditions may be hard for some individuals. You should gather all information and choose wisely whatever loan you choose.
Those were all about, greensky credit application. Here are some FAQs.
Frequently Asked Questions
What bank does Green Sky use?
The Greensky uses 14 regional banks including Regional Financial Corp.
How do I contact Greensky?
Call 1-866-936-0602 to contact Greensky.