Lender
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3.8
(22 Ratings)

Mariner Finance Review

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About Lender

Mariner Finance is a consumer finance company that provides personal loans and other financial services to individuals. The company was founded in 2002 and has since grown to become one of the largest personal loan providers in the United States, with over 500 branches across the country.

Mariner Finance offers various lending options, such as debt consolidation, coverage of unexpected expenses, vacation, car, home, mortgage, personal loans, and also auto, home, or current loan refinancing.

The biggest reasons behind the company's staggering success are no requirements of minimum credit score approval from applicants, numerous personal loan solutions, multiple branch networks, and the ability to post collateral or obtain a co-signer.

Mariner Finance was founded in 2002. Nowadays, it operates in Town Center Drive Baltimore, United States. It has approximately 500 branch networks throughout 27 the US States.

Mariner Finance

Key Features

  1. Personal Loans. Mariner Finance offers unsecured personal loans and secured loans to help individuals finance a variety of expenses.
  2. Bill Payment Services. Mariner Finance offers bill payment services, which can help make it easier to manage your finances and ensure that bills are paid on time.
  3. Credit Reporting. The company provides credit reporting services, which can help you monitor your credit and improve your credit score over time.
  4. Financial Education. Mariner Finance provides financial education resources and tools to help its customers better understand their finances and make informed financial decisions.
  5. Insurance Products. The company offers a range of insurance products, including life insurance and accidental death and dismemberment insurance, to help protect its customers' financial futures.
  6. Online and Mobile Access. Mariner Finance provides online and mobile access to its services, making it easy to manage your finances from anywhere, at any time.
  7. Experienced Staff. The company has a team of experienced and knowledgeable staff who are dedicated to helping customers achieve their financial goals.

These are some of the key features of Mariner Finance that make it a popular choice for individuals looking for financial services and loans.

Pros and Cons

Pros

Wide Range of Products and Services. Mariner Finance offers a variety of financial products and services, including personal loans, lines of credit, bill payment services, credit reporting, and insurance products, making it a one-stop-shop for many of your financial needs. Mariner Finance allows customers to apply for a loan using a variety of methods. Clienteles can do that over the phone, in person, or at a branch network. The company enables customers with filed bankruptcy, weak credit score, and co-signers to be eligible for a personal loan.

Flexible Repayment Options. The company offers flexible repayment options to help make it easier for customers to repay their loans.

Convenient Online and Mobile Access. Mariner Finance provides online and mobile access to its services, making it easy to manage your finances from anywhere, at any time.

Experienced Staff. The company has a team of experienced and knowledgeable staff who are dedicated to helping customers achieve their financial goals.

Cons

High Interest Rates. Mariner Finance loans can have high interest rates, which can make them more expensive than other loan options.

Short Repayment Terms. Some of the company's loans have relatively short repayment terms, which can make them less flexible than other loan options.

Limited Availability. Mariner Finance is only available in a limited number of states, so it may not be an option for everyone.

Potential Fees. Mariner Finance may charge fees for its services, such as origination fees or late payment fees, which can add to the cost of its loans.

Reliability

The reliability of Mariner Finance depends on several factors, including the company's reputation, financial stability, customer service, and regulatory compliance.

In terms of reputation, Mariner Finance has been in business for over 20 years and has helped thousands of customers achieve their financial goals. The company has received positive reviews from many customers and has a reputation for providing quality financial products and services.

In terms of financial stability, Mariner Finance is a well-established company that has a strong financial foundation. It is a subsidiary of New Residential Investment Corp., which is a publicly traded real estate investment trust (REIT). This gives Mariner Finance access to a substantial amount of capital and financial resources.

In terms of customer service, Mariner Finance has a team of experienced and knowledgeable staff who are dedicated to helping customers achieve their financial goals. The company provides online and mobile access to its services, making it easy to manage your finances from anywhere, at any time.

In terms of regulatory compliance, Mariner Finance is subject to federal and state laws and regulations that govern the financial services industry. The company is committed to following these regulations and ensuring that its products and services meet the highest standards of quality and integrity.

Overall, Mariner Finance is a reliable financial services provider that has a strong reputation, financial stability, quality customer service, and a commitment to regulatory compliance. However, as with any financial services provider, it's important to do your own research and carefully consider your options before making a decision.

How to Apply for a Mariner Finance Loan?

Apply For a Loan

  1. Apply for a Loan. You can apply for a loan with Mariner Finance online or by visiting one of the company's branches. During the application process, you'll need to provide personal and financial information, such as your income, expenses, and employment information.
  2. Review and Accept the Loan Offer. Once your loan application is processed, Mariner Finance will provide you with a loan offer that includes the loan amount, interest rate, repayment terms, and any fees. You'll need to review the offer and accept the terms if you want to proceed with the loan.
  3. Sign the Loan Agreement. If you accept the loan offer, you'll need to sign a loan agreement that outlines the terms and conditions of the loan. This agreement will include information about the repayment terms, interest rate, and any fees.
  4. Receive the Funds. After you sign the loan agreement, Mariner Finance will disburse the loan funds to you. The funds will be deposited into your bank account or sent to you by mail, depending on the loan product and your preferences.
  5. Repay the Loan. You'll be required to make regular repayments on your loan until it is fully repaid. The amount and frequency of your repayments will depend on the loan product and the terms of the loan agreement.

Conditions and Requirements

Conditions

Mariner Finance provides loans with varying conditions. Personal and car loans range from $1,000 to $25,000, with personal loans available as secured or unsecured based on credit and other factors. Car loans have flexible terms for purchasing or refinancing. Home loans cater to new home purchases or refinancing existing mortgages, with specific documentation required for application. Across all loan types, Mariner Finance emphasizes a straightforward, efficient process to meet individual financial needs.

Requirements

The requirements for Mariner Finance loans span across personal identification, financial, and residency verification. Applicants need to provide a government-issued photo ID, Social Security card, proof of residence, and proof of income. For self-employed individuals, recent tax returns and bank statements are required. These requirements ensure a thorough evaluation during the loan application process, whether it's for personal, car, or home loans.

Ways to Receive the Money

At Mariner Finance, there are a couple of methods to receive loan funds. One method is through checks mailed by Mariner Finance to pre-screened, qualified individuals, which can be deposited or cashed at a bank, preferably where the check is drawn. Additionally, consumers receiving prescreened credit offers can use the offer code enclosed to accept the offer online, complete the verification, and have funds deposited into their bank account. Both methods allow for a straightforward way to access the loan amount once approved.

Products

Apply For a Loan

  1. Personal Loan. Mariner Finance offers unsecured personal loans and secured loans to help individuals finance a variety of expenses, such as debt consolidation, home improvement projects, and medical expenses. Loan amounts for in-person applicants make up from $1,000 to $25,000 and start at $1,500, going up to $15,000 for online applicants. Loan terms vary from 1 to 5 years. The minimum credit score eligibility is 580. Mariner Finance personal loans and mortgage loans imply origination, late, non-sufficient funds, one-time and phone payments fees.
  2. secured loan means that the clientele will pledge collateral as an assurance that their loan will be repaid according to the agreed terms and conditions. The lender can place a lien or a car on the asset, which remains until the loan repayment, including interest and fees.
  3. Unsecured personal loan imply no property or assets to recover in the event of default. If customers fail to qualify for an unsecured loan, they could obtain a secured loan if they have an asset that can be used as collateral.
  4. Debt Consolidation Loans are ideal for customers who want to pay off various unsecured debts, such as credit cards, medical bills, and high-interest loans, by combining them into one loan with one monthly payment.
  5. Car Loans. Mariner Finance car loans are appropriate for customers who want to purchase either a new or used car or make auto refinancing. Amounts for this type of a service start at $500 and go up to $50,000. The company offers car loan products at ranges from 3% APR up to 36% APR at loan terms varying from 12 to 72 months. Also, car loans have an option of longer terms that range up to 144 months.
  6. Home Loans. Mariner Finance also offers conventional FHA and VA home loans that can be used for refinancing options at a lower rate and a shorter loan term, bill consolidation, or taking cash-out options. Online home loan closing is within 45 days or fewer. Loan terms, loan amounts, and APR vary in different states but usually are the same as in personal loans.

Other Personal Loans

Reasons for Loan Refusal

Check Credit Score

The reasons for loan refusal at Mariner Finance could include poor credit history, insufficient income, or inadequate documentation. Although Mariner Finance considers applicants with a bankruptcy history, the final approval is subject to underwriting requirements.

How to Repay a Mariner Finance Loan?

To repay a loan at Mariner Finance, you have several options. You can use the Customer Account Center online to make single payments, set up recurring payments, check your balance, and view your payment history. Alternatively, payments can be made in person at any Mariner Finance branch, by phone from your bank account, or by mail. It's notable that while recurring payments, in-person payments, and mailed-in payments are fee-free, some states may apply fees for one-time online or phone payments.

Additional Services

  1. Credit History Reporting. Mariner Finance provides credit reporting services that help customers monitor their credit and improve their credit scores over time.
  2. Financial Education. The company offers financial education resources, including articles, videos, and other tools, to help customers better understand their finances and make informed financial decisions.
  3. Insurance Products. Mariner Finance offers a range of insurance products, including life insurance and accidental death and dismemberment insurance, to help protect its customers' financial futures.

Loans like Mariner Finance

OppLoans

Apply for a Loan

OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.

Opploans

Rise Credit

Apply for a Loan

RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.

Rise Credit

OneMain Financial

Apply for a Loan

OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.

OneMain Financial

Universal Credit

Apply for a Loan

Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.

Universal Credit

Editorial Opinion

Mariner Finance stands out in the financial industry, moving beyond conventional credit scoring techniques to adopt a more comprehensive approach to assessing a person's credit reliability. By considering aspects like employment status and income in their appraisal, they demonstrate a deeper insight into financial stability that many conventional lenders miss.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Additional Resources

Sources

FAQ

How Do you Qualify For Mariner Finance Personal Loan?

To qualify for a personal loan, you generally need to meet the following requirements:

  1. Age. You must be at least 18 years old to apply for a Mariner Finance loan.
  2. Income. You must have a steady income, either from employment or other sources, to repay the loan.
  3. Residency. You must be a resident of one of the states where Mariner Finance operates.
  4. Credit Score. Company requires a minimum credit score of 550, although a higher credit score can increase your chances of approval and lower your interest rate.
  5. Debt-to-Income Ratio. Your debt-to-income (DTI) ratio must be within Mariner Finance's guidelines. DTI is a measure of how much of your income goes toward debt repayment each month.
  6. Bank Account. You must have a valid checking or savings account to receive the loan funds and repay the loan.
  7. Other Requirements. Lender may also require other information, such as employment information, to determine your eligibility for a loan.

It's important to note that meeting the minimum requirements does not guarantee approval for a Mariner Finance personal loan. The company considers a range of factors when evaluating loan applications, including credit history, income, and debt obligations.

How Much Can You Borrow From Mariner Finance?

Company offers personal loans with amounts ranging from $1,000 to $40,000, depending on the individual's creditworthiness and other factors. The actual loan amount that you are eligible for will depend on your credit score, income, debt-to-income ratio, and other factors.

It's important to only borrow what you need and what you can afford to repay. Taking out a loan with a higher amount than you need can result in paying more in interest and fees over time. Before applying for a loan, it's a good idea to create a budget and determine how much you can afford to repay each month. This will help you avoid taking on more debt than you can handle and ensure that you are able to successfully repay the loan.

Does Mariner Finance Approve Everyone?

No, company does not approve everyone who applies for a loan. The company uses a risk-based lending model and evaluates each loan application on a case-by-case basis. This means that the approval of a loan will depend on several factors, including the borrower's credit history, income, debt-to-income ratio, and other financial information.

Even if you meet Mariner Finance's minimum eligibility requirements, there is no guarantee that you will be approved for a loan. The company may also conduct a soft credit check during the loan application process, which will not impact your credit score, to determine your creditworthiness.

If your loan application is not approved, Lender may offer alternative loan options or suggest ways to improve your credit score and financial situation. Before applying for a loan, it's a good idea to review your credit report and financial information to ensure that you are in the best position possible to be approved.

Is Mariner Finance a Legitimate Company?

Yes, Mariner Finance is a legitimate company. It is a subsidiary of Performance Finance and operates as a consumer finance company that provides personal loans, debt consolidation loans, and other financial services.

Company is licensed and regulated by state and federal financial institutions, and it adheres to all applicable laws and regulations. The company has been in business for over 20 years and has helped thousands of people with their financial needs.

However, like any financial institution, Mariner Finance has received some negative reviews and complaints from customers regarding issues such as high interest rates, poor customer service, and difficulty in repaying loans. As with any financial decision, it's important to carefully consider the terms and conditions of a loan before accepting it, and to research the reputation of the lender.

If you have concerns or questions about Mariner Finance or any other financial institution, it's always a good idea to consult with a financial professional or a government regulatory agency for guidance.

Is Mariner Finance a Good Lender?

Mariner Finance is a consumer finance company that provides personal loans and other financial services to individuals. Like any financial institution, the company has received both positive and negative reviews from customers.

Some customers have reported positive experiences with Mariner Finance, such as the ability to get a loan quickly and with minimal hassle, while others have reported dissatisfaction with high interest rates, poor customer service, and difficulties in repaying their loans.

Company documents

Terms of use
Privacy Statement
Licensing & Disclosures

Whether you want to consolidate your debt, pay your bills, or travel to your dream destination, Mariner Finance is here to help you.

© Mariner Finance
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4.25
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Mariner Finance reviews 2024
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4.2
Pros
The loan comes with a steep interest rate, which I was aware of from the outset. I certainly intend to settle it early to save on the interest cost.
Complain
1.6
Cons
I've never before experienced making a deposit with a check, having it clear and deposited into my account within 5 days, only to discover 3 days later that the check was returned by the company without any valid reason! This company's handling is completely unsatisfactory. I contacted my bank, and all they could inform me was that everything seemed in order, yet the company reversed the check! How can this even be permissible or lawful?
Complain
4.8
Pros
The only issue I have with this company is the high interest rates. Otherwise, their payment plans are straightforward, and they offer automatic withdrawals for payments.
Complain
4.2
Pros
I'm just beginning my journey with Mariner Finance. The woman I spoke with on the phone was incredibly pleasant. I'm eager to meet her face-to-face. It's great that they're a local company. I aim to be a valued customer and hope they'll have positive feedback about me in return.
Complain
5
Pros
They might not be the most cost-effective choice, but if you're looking to manage your daily expenses and aim to consolidate to reduce monthly outgoings, Mariner stands out as a solid choice. The representatives I interacted with were clear about the approval criteria. If you meet their requirements and provide all necessary information, you can expect a check on the very same day!
Complain
Complain
4.6
Pros
Fantastic service! The employee was knowledgeable and consistently updated me on each phase of the process.
Complain
2.4
Cons
An unauthorized account was opened under my name at Mariner Finance. I now find myself having to visit a local branch to contest this loan. It's disheartening to see the lack of stringent security measures at Mariner Finance that could have averted this situation.
Complain
2
Cons
We secured a loan from them last year, and the entire transaction felt off. It's disheartening to settle a loan and not receive any acknowledgment or gratitude. There was a complete absence of a simple "thank you". I genuinely hope we never have to engage with them again. Their customer service is lacking. And for clarity, don't reach out or inquire further – you know whom I'm referring to.
Complain
4.6
Pros
Decent company. While the interest rate is somewhat steep, it's comparable to what most credit card companies offer.
Complain
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Company rating
3.8
/ 5
22 reviews
Application
3.9
Support service
3.8
Mobile App
3.7
Service quality
3.8
Your satisfaction level
3.8
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