Pre-qualification Information

The Basics

If you are visiting this page, it is likely because you received a letter from Personify telling you that you are pre-qualified for a loan. This pre-qualification could either be for a loan from Personify, acting under a state license, or from our partner First Electronic Bank. Personify works with First Electronic Bank to originate loans made by First Electronic Bank using the Personify Platform. First Electronic Bank is an FDIC insured Utah-chartered industrial bank located in Salt Lake City, Utah. First Electronic Bank loans are governed by Utah state law.

For the information on this page, “we” or “us” means either Personify, First Electronic Bank, or both.

About Pre-qualification

If you have received pre-qualified offer, it is because we provided a set of credit criteria to one or more of the major credit bureaus, and they told us that you met our criteria. This is a great step, and it makes it much more likely that you will be approved for a loan. However, PRE-QUALIFICATION IS NOT A GUARANTEE OF APPROVAL, and there are several additional steps and requirements before you will have your application approved and receive a loan

Eligibility

First, you must be eligible for the pre-qualification to be valid. To be eligible, you must:

  • Be the individual named on the offer letter

  • Reside at the address on the offer letter

  • Be able to make a legally binding contract with us

  • Be of the age of majority in your state of residence

  • Be a legal resident of the state to which the letter is addressed, under any applicable state or federal law

  • Not have submitted an application for a loan with us any time in the past 120 days

  • Not have an existing loan with us

  • Not have defaulted on a loan with us at any time in the past

  • Be capable of submitting an application to us online, and follow the process as laid out in the next section. We do not accept applications over the phone, by mail, or by any means except online, through our website

  • Be a United States citizen, permanent resident, or a temporary resident eligible to remain in the United States for at least the length of the loan for which you apply

  • Have a valid checking account that has been open for at least 3 months for receipt of funds

Process

In order to take advantage of your pre-qualification, you must submit a complete application on our website prior to the expiration date of your pre-qualification, as well as provide us any additional information we request in order to verify any aspect of your application such as income, bank information, or identity. If you do not provide us the requested information in the time we specify, we will not consider your request for credit and this offer will be void.

Prior to submitting your application, we may give you the opportunity to check your offers, and confirm the specific rate, loan amount, and term for which you may apply. Your pre-qualified offer is a firm offer of credit for a loan of the minimum amount of $500 at the highest rate offered in your state. For details regarding the terms that may be available in your state visit https://www.personify.com/rates-terms-and-licensing-information. The maximum program APR is 99% or 179.99%, depending on the program you are participating in. Please see your mailer for further details and information. Payment examples shown are for illustrative purposes only and not an actual representation of offers available to you.

When you proceed with loan enquiry process, we may perform a "soft" inquiry to show you available offers in addition to your firm offer of credit for which you may be qualified. Soft inquiries do not affect your FICO® score. If you choose to submit an application for credit for one of these offers, we will perform "hard" inquiries which may affect your credit score.

IMPORTANT: You may only apply for one specific offer every 120 days, and once you have applied for credit, all other offers are void, including your firm offer of credit.

Some of the requirements to complete our loan application may include:

  • Identifying information such as: full legal name, address, phone numbers, email, social security or similar identifying number, date of birth, IP address, device information

  • Financial information: type of housing, income sources, amounts, and payment schedules, expenses, employment or occupation details and history

  • Bank information: Bank routing number and account number, 3 or more recent months of bank statements, or their electronic equivalent

  • Any other information bearing on your creditworthiness or needed to verify your income, employment, identity, or the validity and ownership of the bank account to which we fund or from which we withdraw payments