If you did not receive a rate range after submitting a Rate Check, it is likely that Earnest doesn't have enough information to confidently offer you a rate estimate at this time.
While the Rate Check can be a helpful tool, it is based on a limited set of information and the accuracy of the details you provide. If you choose to move forward with a full application, you'll be asked to provide more context about your financial profile, such as your banking account history, specific savings and asset details, and more.
After completing the Rate Check and before submitting the full application, you should see an option to invite a cosigner* to your application. Adding a creditworthy cosigner can strengthen your overall profile and potentially help you qualify.
We will also perform a hard credit inquiry when you submit a full application, which provides a more complete view of your credit history.
In general, we look for applicants who demonstrate a strong history of financial responsibility. This can be reflected in several ways, including having sufficient income to support both the Earnest loan and everyday living expenses. A positive payment history is another key part of our review process, as it demonstrates you are committed to making payments on existing debts.
We encourage you to review our Eligibility Guidelines and submit a full application so we can better evaluate your financial profile and determine whether Earnest is a good fit for you. Please note that submitting a full application will result in a hard credit inquiry.
*Due to state regulations related to cosigner release, we are currently unable to accept cosigners who reside in Connecticut for Student Loan Refinancing.