EVEN Financial

The Good

• Low interest rates
• Easy-to-use website
• Soft pull – does NOT impact your credit
• Good national coverage

    Low Interest Rates EVEN is a loan comparison site that caters to individuals with good or excellent credit.  Meaning, if you have a credit score of about 650 or better, they will be able be able to show you some very good options from lenders.  They work with some of the best lenders in the business and effectively vet them, so if they show you a rate, you could be assured that it’s from a solid lender. Even offers real-time pre-approval from multiple lenders in a matter of seconds.  This means that the rate you see is the actual rate (or very close to) that you are going to pay.  They don’t do any of the bait-and-switch tactics you often see where a teaser rate turns out to be much higher.   They also conduct only a soft pull on your credit.  It does not impact your credit score in any way, but allows them to show the actual rate you would pay.  Keep in mind that if you decide to accept a loan from one of their lenders, that lender will do a full credit check at that time.     Good national coverage Technically, EVEN has lenders that operate in every state except New York.  However, some states are better covered than other and have more lenders – which means more options for consumers.  It’s worth checking out no matter what state you live in (except New York), but in our research, we found the following states had the absolute best deals:

• Alabama
• California
• Delaware
• Florida
• Georgia
• Illinois
• Missouri
• New Mexico
• Ohio
• Oregon
• South Carolina
• South Dakota
• Utah
• Washington

The Bad

• Requires Good or Excellent credit
• Not the end lender itself

  Most, if not all, of EVEN’s available lenders are those who are not able to lend below a FICO score of 580.  That’s the absolute minimum, but really, their sweet spot is in the mid-600 range.  That’s fine for those borrowers with a 650-850 score, but we can’t recommend EVEN for those with a score below 650.  For these borrowers, we’d recommend LendingPoint or OppLoans, depending on the state that you live in.   Also, it’s important to note that EVEN is not the lender itself.  It is a comparison service to help you find the right lender, but if you have questions about that loan, customer service issues in the future, or trouble paying it back, don’t call EVEN.  They don’t really have customer service.  It’s the lender’s customer service that you want to call.  This is not necessary a problem or a weakness with EVEN – it’s just something to keep in mind should you need to talk to a customer service representative in the future.  

The Summary

If you have a credit score of 650-850 and are looking to consolidate credit cards, personal loans, or existing student loans, EVEN is a great option.  They can save you money on your current payments by moving to one of their lenders.  Plus, you’ll know exactly what you would be paying and what rate you’ll receive.