Citrus Loans was created to assist you in acquiring the loan you need, for any purpose. You may need a personal loan for a variety of reasons, such as emergency car repairs, vacations, home improvement projects, expenses for an upcoming wedding, or other contingencies. 

With Citrus Loans, the process of getting a personal loan is highly streamlined. You can utilize this service even if your credit rating is less than satisfactory. Your application process will not be affected adversely in most cases. In this post, let us take a detailed look at Citrus Loans.

Who Is Citrus Loans?

Citrus Loans can be described as a loan aggregator service that users, seeking assistance for a financial emergency, can access online. It is possible for anyone to be overtaken by tough times, and an emergency cash advance by way of a personal loan might be just the relief they need to negotiate the immediate financial crisis. 

The service platform of Citrus Loans is designed precisely to address this need, while you are spared the trouble of dealing with multiple applications. Citrus Loans enables you to apply for a personal loan to as many lenders as possible only with a single application. 

By filling out one simple application form, you are ready to go. The lenders will be competing with each other for your business. You are freed of all the other hassles that you would have otherwise have been subjected to. 

What Services Do They Offer?

Home Loans

Citrus Loans is your best option that you can access online if you are a resident of Florida and need a Home Mortgage Loan. You can get just the kind of service you are looking for with this company.

You can also look at Citrus Loans in case you are seeking a Manufactured Home Loan. And they’ve even been assisting those living in Florida to get their new home refinanced since 2005. If you are thinking of buying a house for the first time or simply looking for a property to invest in, you can gainfully consider this option. 

Citrus Loans should work out well to make your real estate aspirations see the light of day – and your experience will be worry free. The company is currently offering a number of loan options with the help of multiple vendors.

Let’s take a brief look at them:

  • Mobile Home Financing.
  • Jumbo Loans.
  • 1% Down Conventional Loan.
  • New Construction Loan.
  • Hard Money Loan.

Unsecured Loans

Citrus Loans also offers small-sized unsecured loan to their clients. Through Manor Park Funding, they’ve built an extensive network comprising multiple vendors. The unique aspect of the loans that these lenders provide their customers is that they range from $100 to $2,500.

These loans range between 14 days and 24 months in terms of tenure. The flavor you choose depends on your personal requirement. This is an astute option for those needing to borrow emergency cash from providers with attractive interest rates and appealing credit reports.

How Does Citrus Loans Work?

In order for you to get approved for a loan, you need to qualify for at least the following requirements:

  • Hold a Job or Have a Regular Income: This is a criterion that you must necessarily meet. Some lenders could ask you to furnish proof of employment for, say, the last month. If you do not have a job, you will be required to come up with proof of income from pension, social security or any other source, and the income must not fall shy of at least $1,000 monthly.
  • Have a Bank Account: After signing up with a lender that has approved your loan and agreeing to their terms, the money will be transferred into your savings or checking account. That is precisely why Citrus needs you to have a bank account.
  • Be a US National with a valid Social Security Number.
  • Possess a valid Driver’s License or a State ID: You will be required to possess any of these so that your ID can be verified.

An important point to be noted in this context is that if you happen to be a client of Metabank (which means, you are using any of their products such as credit cards), you will not be allowed to apply using Citrus Loans’ network. 

The process of getting a loan from Citrus is quite simple. All you need to do is fill out and submit a loan request form available securely online (make sure that the information is accurate). This form will be sent by Citrus to its network of lenders. 

This network of lenders will then evaluate the information you submitted. They may perform due diligence like accessing your credit report, etc. If there are a few lenders that are interested in extending you a loan, you will receive their offers along with loan details. It is recommended that you read the details properly. Once you have selected a particular lender, you will be required to e-sign the necessary documents. 

With the e-signing procedure completed, you may expect the cash to be deposited into your bank account the following business day.

Rates & Fees And Repayment Terms

Citrus Loans doesn’t provide any information related to its rates and fees. The company is only a third party – in other words, a broker. The APR and rate will be determined by the lender that accepts your loan application. The repayment terms also need to be sorted out between you and the lender. However, it is usual for the loan repayment period to be 2 weeks when it is a payday loan.

Pros & Cons

PROS
  • Available for Residents of every State: There are loan aggregator sites that disallow residents of certain states to submit an application. However, Citrus Loans welcomes everyone, from across all the 50 states, to apply.
  • Accepts any kind of Credit Score: The network of lenders that Citrus has includes those that accommodate folks with bad credit scores. But even if your credit score is found wanting, you may still be able to find a lender through Citrus.
  • Fast Process: The application process is easy, fast and is comparatively hassle-free.
  • Quick Cash Loan: Your loan amount will be transferred into your bank account the next business day after it gets approved.
  • Multiple Lenders: Citrus Loans is not actually the lender, but a third party connecting you to multiple lenders operating within its network.
CONS
  • Credit Ceiling: The lenders associated with Citrus will only approve loans not exceeding $2,500. If you feel that you need a higher loan amount, you will have to find a different loan aggregator.
  • Metabank Customers are Barred from Applying: If you are a Metabank client (say, for example, you are using a Metabank credit card), you are not allowed to apply for a loan via Citrus. In such a scenario, you will need to search for another network free of this restriction.
  • It is not a Direct Lender: Citrus Loans may not be an appropriate destination if you would rather prefer to work with an actual lender instead of a third party.
  • The Website is not Comprehensive: The official website for Citrus Loans is not exactly comprehensive and needs to have much more information. There is room for a lot of improvement.

FAQs

Can I use the loan obtained through Citrus for any purpose?

Yes, you are free to use it for any purpose you want.

How do I improve my chances of getting approved?

First of all, make sure that the information you fill in is correct. Next, you will need a bank account. If you do not have one, open one soonest possible. Moreover, try to pay off any short term loans that you might have.

How do I know my loan renewal policies?

You can find these out from your lender.

Final Thoughts

If you urgently need a loan, applying via a loan aggregator saves you precious time and you can apply to more lenders automatically. In contrast, if you want go ahead without it, you will need to submit multiple forms and the process becomes unnecessarily tedious. Citrus Loans is an aggregator that fast tracks the loan application process – even if your credit score is below par. It is an excellent choice when you are looking for a competitive home mortgage loan.

The limitations are that Citrus Loans gives you access to only small personal loans not exceeding $2,500 and Metabank customers are not eligible. If these limitations do not affect you, then Citrus should work out well for you. You can use Citrus’ excellent customer service available online – complete with a phone number and an email. We recommend Citrus Loans for all those who are seeking home loans, construction loans, hard money loans, or small sized personal loans.

Related: BadCreditLoans.com Review

About the author 

Greg Lorenzo

Greg is a financial expert who has been advising his audience on loans for over 10 years. He has a wealth of knowledge and experience in the area, and he is passionate about helping people get the best possible deal on their loans. Greg is an expert in negotiating loans, and he has a proven track record of getting his clients the best possible terms. He is also a strong advocate for financial literacy, and he regularly gives workshops and seminars on the topic.

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
Subscribe to get the latest updates