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.
Key Features
Here are some of the key features of Mariner Finance:
- Financial Education. Mariner Finance provides financial education resources and tools to help its customers better understand their finances and make informed financial decisions.
- 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.
- 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.
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.
Thus, Mariner Finance can be an ideal choice for customers with low credit scores who cannot qualify for another lender with better rates and want to cover their unexpected expenses. Before applying for a loan, clientele have to make sure they live in one of 27 states the company operates in. If customers have excellent credit or want to borrow less than $1,000 or more than $25,000, they should better consider another lender.
Products
- 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. Mariner Finances' average APR for personal loans is 18.99%-35.99%. 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.
- Lines of Credit. The company also provides lines of credit, which can be a flexible option for those who need access to funds on an ongoing basis.
- A 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.
- 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.
- 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.
- 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.
- 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.
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.
Funding a loan
- 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.
- 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.
- 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.
- 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.
- 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.
These are the basic steps involved in funding a loan with Mariner Finance. It's important to carefully consider the terms and conditions of any loan product before you agree to take out a loan, and to understand the responsibilities and obligations associated with borrowing money.
Additional Services
In addition to its personal loans, lines of credit, and bill payment services, Mariner Finance offers a range of additional financial services to help its customers manage their finances and reach their financial goals. Some of these services include:
- Credit History Reporting. Mariner Finance provides credit reporting services that help customers monitor their credit and improve their credit scores over time.
- 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.
- 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.
These are just some of the additional services that Mariner Finance offers to help its customers achieve their financial goals. Whether you're looking to improve your credit, pay off debt, or save for the future, Mariner Finance has the products and services you need to reach your financial goals.
Mariner Finance vs One Main Financial
Both companies that offer personal loans and other financial products and services. Here is a comparison of some key differences between the two companies:
- Loan Types. Mariner Finance offers personal loans, lines of credit, and bill payment services, while OneMain Financial offers personal loans and home equity loans.
- Loan Amounts. Mariner Finance personal loans up to $40,000, while OneMain Financial offers loans up to $25,000.
- Interest Rates. Mariner Finance's interest rates can be higher than OneMain Financial's, depending on factors such as the loan amount and creditworthiness of the borrower.
- Loan Terms. Mariner Finance offers loan terms of up to 72 months, while OneMain Financial offers loan terms of up to 60 months.
- Loan Eligibility. Mariner Finance requires a minimum credit score of 550, while OneMain Financial requires a minimum credit score of 550.
- Repayment Options. Mariner Finance offers automatic payment options, while OneMain Financial offers both automatic payment options and in-person payments.
- Availability. Mariner Finance operates in more than 20 states, while OneMain Financial operates in 44 states.
- Customer Service. Both companies offer customer service through their websites and by phone. OneMain Financial also has over 1,600 branches where customers can receive in-person support.
These are just some of the differences between Mariner Finance and OneMain Financial. When considering either company for a personal loan, it's important to compare the loan terms, interest rates, and other factors to find the best option for your financial needs.
Mariner Finance vs Oportun
Both companies that offer personal loans and other financial products and services. Here is a comparison of some key differences between the two companies:
- Loan Types. Mariner Finance offers personal loans, lines of credit, and bill payment services, while Oportun offers personal loans.
- Loan Amounts. Mariner Finance personal loans up to $40,000, while Oportun offers loans up to $26,000.
- Interest Rates. Oportun's interest rates can be lower than Mariner Finance's, depending on factors such as the loan amount and creditworthiness of the borrower.
- Loan Terms. Mariner Finance offers loan terms of up to 72 months, while Oportun offers loan terms of up to 48 months.
- Loan Eligibility. Mariner Finance requires a minimum credit score of 550, while Oportun has no minimum credit score requirement but considers a range of factors when evaluating loan applications.
- Repayment Options. Mariner Finance offers automatic payment options, while Oportun offers both automatic payment options and in-person payments.
- Availability. Mariner Finance operates in more than 20 states, while Oportun operates in 12 states.
- Customer Service. Both companies offer customer service through their websites and by phone.
These are just some of the differences between Mariner Finance and Oportun. When considering either company for a personal loan, it's important to compare the loan terms, interest rates, and other factors to find the best option for your financial needs.
Mariner Finance vs Advance America
Both companies that offer personal loans and other financial products and services. Here is a comparison of some key differences between the two companies:
- Loan Types. Mariner Finance offers personal loans, lines of credit, and bill payment services, while Advance America offers payday loans, installment loans, and title loans.
- Loan Amounts. Mariner Finance personal loans up to $40,000, while Advance America's loan amounts depend on the loan type and the state in which the loan is taken out.
- Interest Rates. Advance America's interest rates can be higher than Mariner Finance's, depending on factors such as the loan type, loan amount, and creditworthiness of the borrower.
- Loan Terms. Mariner Finance offers loan terms of up to 72 months, while the loan terms for Advance America loans vary by loan type and state.
- Loan Eligibility. Mariner Finance requires a minimum credit score of 550, while Advance America's minimum credit score requirements depend on the loan type and state.
- Repayment Options. Mariner Finance offers automatic payment options, while Advance America offers a variety of repayment options including automatic payments, in-person payments, and online payments.
- Availability. Mariner Finance operates in more than 20 states, while Advance America operates in 28 states.
- Customer Service. Both Mariner Finance and Advance America offer customer service through their websites and by phone.
