Cashcall Loans Review

Cashcall is a company that was founded in the early 2000s. Their first office popped up in Orange County, California. The company’s primary goal was to provide lending services that were unparalleled to others on the market. To do so, the company began by hiring loan experts along with incorporating innovative technology. With these combined efforts, they were able to create a successful, fast, and simple cash loan system.

Their loans are perfect for those who either suffer from low credit or low monthly income. Due to this, even if you don’t have the best FICO score, you can still qualify for an unsecured loan. However, you can’t file jointly or with a co-signer. The amount of the loan also depends mainly on your monthly income.

Home Ownership Loan

A homeownership loan can get you funding for your home. This is perfect for first-time homeowners who need a loan to qualify for a downpayment on the house, although the criteria for getting a home loan is much higher than a personal loan.

You will need a steady income and good credit to qualify for this loan. Most homeownership loans allow joint-filing for married couples. So, be sure you are eligible before you try and apply to this loan.

What’s It Like to Borrow From Cashcall?

Up until recently, Cashcall was giving out personal loans. However, the company has since halted approving any personal loans. The only type they offer right now is either homeownership loans or debt settlement loans with the company.

If you would like to borrow the homeownership type, you can still fill out an application with the company. This requires that you either fill out their secure online application or call one of their representatives over the phone.

Once you fill out your application, you’ll have to wait to be approved. Approval times vary depending on state and location. If you apply online, then you can expect the approval or denial to be around two days.

What’s the Maximum You Can Borrow From Cashcall?

Cashcall generally hands out Cash Call Mortgage loans. The amount for these loans can range from a minimal price to a higher rate. For the lowest amount you can borrow for a home loan, it can be as low as $75,000. However, you can quickly get funding higher than that. Some of the averages for home loans are $310,000 or higher. However, the amount of funding will depend on your credit, income to debt ratio, and past history with credit payments.

For their personal loans, the amount ranges from $2,600 on the low end and $10,600 on the high end. This amount can change drastically in the state you live in. Each state has different criteria for the maximum and minimum loan amounts. That being said, the loan amounts still are based on the amount requested and your current monthly income.

Are There Extra Rates, Fees, and What’s the Interest Rate at Cashcall?

Aside from just interest rates, you’ll also be paying extra fees to have your account looked over and setup. The starting fee for a Cashcall mortgage is $995 but is added to the total cost of the loan. Throughout your loan payment, you may be paying more money back in the long run because of this charge. APR rates for mortgages are at a fixed rate of 4.75%.

For a personal loan, you can expect the fees to be $75 for the starting application and go up to $500. Alternatively, this can be up to 33% of the starting loan. As for interest rates, personal loans tend to vary up to 179% APR.

Non-payment and Late Payment Consequences at Cashcall

Cashcall has a strict repayment schedule that requires you don’t miss a payment. If you’re more than 15 days late, an automatic payment will go through. If you don’t have enough funds in your account, you will be charged an extra $29. Additionally, if you don’t have funds in your account, but your bank account does cover the transaction, you could be charged with overdraft fees. Ensuring that you pay your bill on time can help reduce these extra fees. In the case of non-payment, we highly suggest contacting the company ahead of time. They can work with you to reduce overall late costs.

Is Cashcall A Legitimate Loan Company?

Yes, Cashcall is a legitimate loan company handing out personal loans and mortgage payments. Since 2016, the company has handed out more than $9 billion in loans combined. A quick search of the company will generally make borrowers want to avoid the company due to misinformation. However, Cashcall is a legit company and is worth applying for if you can meet their loan requirements.

To apply for a loan from Cashcall, it’s crucial to have all the documents you’ll need in order. This will help the process go swifter and can help you get it done within just 30 minutes.

To get a home loan, you’ll need to do the following steps:

1. Head to Cashcall’s main website and click “request a callback.”
2. Alternatively, you can call an agent at 1-866-590-2274.
3. Select either “homeownership loan” or “debt settlement.”
4. Input your first name, last name, email, and phone number into the selected fields.
5. Read over their “requirements” and click send the request.
6. Wait for an agent to call you about your inquiry/application.

*This subject will change, as of 2020 Cashcall has stopped handing out loans. Their services may change and open up later in the year. However, the best way to fill out an application and see if you can get approval is to wait and speak with one of their representatives.

Cashcall Loan State Requirements

As with any lending company, they will expect you to meet minimum requirements. These requirements are set in place to help ensure that you can afford to pay them back the borrowed amount plus interest. To even be eligible for applying, here’s what you’d need;

• Be over the age of 18
• Have a valid bank account
• Be a resident and have an SSN
• Two Years of W-2 Statements
• Proof of Income

The eligible States for Cashcall Loans

Cashcall has a wide range of coverage for providing loans in states. However, their different types aren’t exactly available in each state. To see which ones are, you will need to contact the company to see if you can even apply to the loan you like.

As for the states that Cashcall operates in, they operate in all other states that legally allow lending companies except for these states; CT, DE, ME, MD, MA, NY, WY.

To get a personal advance online, you will need to have a few documents on hand. These documents speed the process up and can help you complete the online application faster. Additionally, you may be asked to fax or scan in the documents to prove your identity.

Here’s a list of what you’ll need;

• Legal name & Updated contact info (phone number, mailing address, etc.)
• A government-issued ID (drivers license, passport, state-issued ID)
• Social Security Number (SSN or proof of permanent residency)
• Two years of W-2 Statements
• Proof of Income (paystubs, bank statements, etc.)
• List of Assets/Debts

How Do You Do a Walk-in at Cashcall?

Unfortunately, Cashcall doesn’t have any physical stores that you can walk into. You can use their phone lines if you’re uncomfortable with using online forms or don’t want to type any sensitive information into an online application.

To do so, call their customer support number, and you’ll be sent to a representative. This representative will help you fill in your application and help you get all information sorted out. The only downside to this method is that you may have to fax documents over.

Customer Service: When Do They Open, Close, and Who Should I Contact?

Cashcall has multiple customer support lines for varying issues. Some of these include applications, collections, account recovery, and complaints. This can be useful if you need to get a specific problem fixed, and you want someone who can fix it quickly.

Their main customer support line is 1-877-525-2274. If you don’t have an urgent matter, then you can contact their customer support email [email protected] If you need to contact the company, they are open Monday through Friday from 8 am until 5 pm. They are also open on Saturday from 8 am until 12 pm.

Should You Use Cashcall Loans as Your Next Lender?

Overall, we wouldn’t recommend Cash Call for new customers. Since early 2020, they have been limiting their types and who can register. While their APR rates and fees sound good, it may be hard to get approved.

If you’re in a time of need, we recommend going with another company if you need quick cash. Cashcall can get you funds within seven days, but for many, that’s too late. The only part we recommend for Cashcall is their Cash Call mortgages. You can quickly get the funding you need if you meet specific criteria.

That being said, the company itself isn’t a bad one to use for personal loans. The only issue we’ve found is that not every state will have personal loans available. This can confuse and also limit the availability of getting funds.

If you’re in an eligible state and feel like Cashcall is a good fit for you, by all means, apply to their services. However, if you think the APR rates are too high or you can find a better deal in your area, we’d suggest doing that. Cashcall is useful for homeowners but isn’t the best for many of their other loans.