A Written Checklist for Reviewing a Personal Loan Offer

An offer is easier to review when the information sits in one place. Start a short comparison sheet for each lender, using the written offer as the source. Record the date and the lender's identity so that an old example does not get confused with a current proposal.

Note the amount borrowed and the amount you would actually receive after any deducted fees. Then record the APR, payment amount, payment count, due dates and total repayment. If a figure is unclear, ask the lender to explain it before treating the offer as comparable with another one.

Keep a separate space for conditions. These may include documents still needed, charges connected with late or returned payments and any policy about early repayment. A headline rate or an eligibility indication does not replace these terms.

Review the offer beside your existing obligations and essential expenses. A payment that appears manageable in isolation may look different in the complete schedule. This checklist is a way to organize information, not a recommendation to accept an offer or a prediction about your circumstances.

Before sharing information, confirm which company will receive it and read that company's privacy notice. Save the disclosures and any written answers. You choose whether to continue; a referral does not require you to accept a loan.

My Fair Lending is a free referral and educational service. We do not make loans, credit decisions or broker loans. Availability and terms vary by state, lender and credit profile. Some products are unavailable in some states, and submitting a request does not guarantee an offer.