Huntsville, Alabama is the third-largest city in the state. It sits in both Madison and Limestone Counties, and it is the county seat of Madison County. Currently, Huntsville is estimated to have around 197,350 residents. This makes it the 119th most populous city in the United States.
Today, the main industry in Huntsville is technology, as there are more than 25 biotechnology companies in town. Also, aerospace and military industries are well-developed and are significant for Huntsville’s economy. This is one of the reasons why this city’s nickname is The Rocket City. The top employers in Huntsville, Alabama are the U.S. Army, NASA, the Huntsville hospital, the Boeing Company, ADTRAN, Inc., Technicolor, and Toyota Motor Manufacturing Alabama.
In Huntsville, there are around 57.5% homeowners, according to the 2018 statistics. The median value of a home in this city is around $176,000. The median monthly mortgage is estimated to be around $900, while for an average rent you’d have to pay around $800 per month.
The median income in Huntsville is slightly above the U.S. average. The average income per person in Huntsville during 2018 was around $34,600, while the median household income in the same year was about $53,850.
As for the cost of living, the overall score has been 5% below the national average, and the city has also seen a 2.3% growth in the job market. Today, the unemployment rate is 3.1%.
If you are a Huntsville resident, and you want to take steps to be on top of your financial situation, you may benefit from taking out personal loans online in Huntsville, AL. Here is how.
What are personal loans?
A personal loan is any borrowed money used for personal purposes. They come in many different forms, but the simplest way to break them down is by “secured” and “unsecured” loans. A secured loan is one that requires collateral in order to take it out, while an unsecured loan does not.
People use personal loans as solutions for different financial obstacles. These loans can be used for:
- Debt consolidation
- Car repairs
- Moving expenses
- Unexpected medical emergencies
- Paying for large purchases
Whether your personal loan will be secured or unsecured will depend on your particular lender and your borrowing qualifications, such as your credit score, income, or how well you manage money.
Secured personal loans are more common among candidates who have bad credit. They represent a potentially risky category for lenders, so a valuable asset to back up the loan is required. If the borrower cannot repay the debt, then the lender has the right to claim the asset, called “collateral.”
If you have a good credit score, you have managed your debts well in the past, you have steady employment, and regular income, then you are more likely to get a good unsecured loan.
One popular choice for unsecured loans is an installment loan. This means you have to pay an amount of money every month to pay off the debt. A portion of principal and interest are included in the payment. The interest rate varies by lender, but factors like your credit score, your financial history, the period of loan repayment, and other particular information about the loan will influence the rate you can get.
personal loan benefits
Occasionally, taking charge of your finances may require quick funds. Personal loans are suitable for these situations for several reasons.
- They are versatile and can be used for a number of different purposes. Unexpected medical emergencies can be particularly inconvenient, and the last thing you should be thinking when your health is in question is whether or not you will be able to afford the treatment. Taking out a personal loan may help.
- You can get a loan even if your credit score is fairly low or your credit report is not impeccable. Some lenders will still give you a second chance because almost everyone has experienced a financial hardship at some point.
- Your repayment schedule is predictable and fixed. Your monthly installments do not change, which helps you plan your budget accordingly. This gives you a chance to be in control of your money and organize your finances in advance so you are never late with a payment.
- Your application is reviewed very quickly. Sometimes, you will need access to the funds as soon as possible. The application process for a personal loan is usually quick, easy, and, in some cases, can be done online.
What our borrowers are saying
References
Card Offers
Merit Platinum Card
- $750 Merchandise Credit Line
- No Employment or Credit Check Needed
- Zero Sign-Up Fees
View Details
Description
If you have less than perfect credit or no credit, then Merit Platinum is perfect for you.
Benefits
- $750 Merchandise Credit Line
- Start Shopping in Minutes!
- Zero Sign-Up Fees
- Bad Credit? No Credit? You’re Welcome!
- No Employment or Credit Check Needed
- Fast, Easy Application
opensky® Launch Secured Visa® Credit Card
- Start building credit with just $100 – secure your line with a low, refundable security deposit
- No credit check required – 89% approval rate with zero credit risk to apply!
View Details
Description
Join 1.6 million+ cardholders who have used opensky® to build better credit!
Benefits
- Annual fee billed in monthly installments of $2 per month in year 1 and $3 per month thereafter
- Earn up to 10% cash back on everyday purchases
- Affordable payments – minimum payment as low as $10
- Boost your credit score fast—2 out of 3 opensky® cardholders see an average increase of 47 points after 6 months
- Track your progress with free access to your FICO® score in our mobile app
- Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
- Seamless payments—add your card to Apple Pay, Google Pay, and Samsung Pay
- Fast and easy application—apply in minutes with our mobile-first experience
- Flexible payment options—pick a due date that works for you
- More time to fund—spread your security deposit over 60 days with layaway
Find The Card for You
- Cards for Every Credit Score
- See if you’re eligible with no impact to your credit
- Compare Top Card Offers and Apply Online!
View Details
Description
Need a card? We can help. Find the card that’s right for you in seconds—with no impact to your credit score!
Benefits
- Cards for every credit score
- See if you’re eligible with no impact to your credit
- Get personalized card offers in seconds
- Compare your offers and apply with confidence
FIT™ Platinum Mastercard®
- $400 Initial Credit Limit
- Perfect card for everyday purchases and unexpected expenses
- Monthly reporting to the three major credit bureaus
View Details
Description
Less than perfect credit? We understand. The FIT Mastercard is ideal for people looking to rebuild their credit.
Benefits
- Unsecured credit card requires No Security Deposit
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
Imagine® Visa® Credit Card
- Up to $1,000 credit limit subject to credit approval
- Earn Cash Back Rewards* – 3% on Eligible Gas, Groceries, and Utilities, and 1% on All Other Eligible Purchases
View Details
Description
Imagine provides more spending power for day-to-day expenses with no security deposit or hidden fees and zero fraud liability.
Benefits
- Earn Cash Back Rewards* – 3% on Eligible Gas, Groceries, and Utilities, and 1% on All Other Eligible Purchases
- Up to $1,000 credit limit subject to credit approval
- $0 fraud liability**
- No Security Deposit
- The Imagine Card is issued by WebBank
Disclaimers
Review Cardholder Agreement for rate and fee information
*See Program Terms for important information about the cash back rewards program.
**Zero liability subject to Visa’s Zero Liability Policy.
OneMain Financial BrightWay® Card
- Earn unlimited 1% cash back on purchases.
- Qualify for rewards like a credit limit increase (subject to credit approval) or APR decrease in as little as six months.
View Details
Description
Building your credit? The BrightWay credit card may help you get started.
Benefits
- See if you’re pre-approved with no impact to your credit score.
- Qualify for rewards like a credit limit increase (subject to credit approval) or APR decrease in as little as six months.
- Earn unlimited 1% cash back on purchases.
- Building your credit? We report to the major credit bureaus and good payment habits can pay off.
- Easily manage your account and make payments using BrightWay App.
- BrightWay cards are issued by WebBank.
Disclaimers
- See the OneMain Financial BrightWay® Card rates and fees.
Reflex® Platinum Mastercard®
- Up to $1,000 Initial Credit Limit
- See if you Pre-Qualify with No Impact to your Credit Score
- Monthly reporting to the three major credit bureaus
View Details
Description
Less than perfect credit? We understand. The Reflex Mastercard is ideal for people looking to rebuild their credit.
Benefits
- Unsecured credit card requires No Security Deposit
- Perfect card for everyday purchases and unexpected expenses
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
Surge® Platinum Mastercard®
- Up to $1,000 Initial Credit Limit
- See if you Pre-Qualify with No Impact to your Credit Score
- Monthly reporting to the three major credit bureaus
View Details
Description
Less than perfect credit? We understand. The Surge Mastercard is ideal for people looking to rebuild their credit.
Benefits
- Unsecured credit card requires No Security Deposit
- Perfect card for everyday purchases and unexpected expenses
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
View More Card Offers
PREMIER Bankcard® Mastercard® Credit Card
- Pre-qualify with no impact to your credit score
- Start building credit by keeping your balance low and paying all your bills on time each month
- Award-winning, U.S.-based customer service
View Details
Description
Helping people build credit is our first priority – start your credit-building journey today. Start building credit by keeping your balance low and paying all your bills on time each month.
Benefits
- Pre-qualify with no impact to your credit score
- We report monthly to the Consumer Reporting Agencies to help you build your credit
- Award-winning, U.S.-based customer service
Destiny® Mastercard® with Instant Credit
- Guaranteed $700 credit limit, if approved
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- Trusted by more than 1 million customers
View Details
Description
The Destiny Mastercard provides an opportunity for those with imperfect credit.
Benefits
- A guaranteed $700 credit limit to help get your financial goals on track, if approved.
- Don’t wait for your card to come in the mail. If approved, add your card to your mobile wallet and shop today. See Terms.
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- Trusted by more than a million customers with reporting to all three major credit bureaus, so you get credit for all of your hard work.
- No security deposit, just instant purchasing power. See Terms.
- Zero Fraud Liability – Peace of mind that comes with having a Mastercard.
- Get the credit you deserve, even with less-than-perfect history.
Current Build Visa® Credit Card
- Credit for everyone – Regardless of your credit history!
- Get paid up to 2 days faster – Using Direct Deposit*
- Reports monthly to all three major credit bureaus
View Details
Description
Current Build Card has made credit building simpler, safer, and smarter so now you can get credit for the banking you do everyday.
Benefits
- Credit for everyone – Regardless of your credit history!
- Get paid up to 2 days faster – Using Direct Deposit.*
- Reports monthly to all three major credit bureaus.
- Build credit not debt.
- Grow your savings – Earn up to a 4.00% Bonus on Savings Pods**
- View Product Disclosures
Disclaimers
Current is a financial technology company, not an FDIC-insured bank. FDIC insurance up to $250,000 only covers the failure of an FDIC-insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Banking services provided by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC. The Current Visa® Debit Card, which may be issued by Choice Financial Group and/or Cross River Bank, and the Current Visa® secured charge card issued by Cross River Bank, are both pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. Current deposit account required to apply for the Current Visa® secured charge card. Independent approval required.
*Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
**Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. No minimum balance required. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. To earn a Boost rate of 4.00% with at least one Eligible Payroll Deposit equalling a minimum of $200. For more information, please refer to Current Boost Terms and Conditions.
Walmart MoneyCard
- 3% cashback at Walmart.com, 2% at fuel stations, 1% in-store, up to $75 each year*
- Get your pay up to 2 days before payday with free Direct Deposit™
- Unlock overdraft protection up to $200–opt in with eligible direct deposit
View Details
Description
The Walmart MoneyCard just keeps getting better!
Benefits
Get your pay up to 2 days before payday
With free ASAP Direct Deposit™, you can stop waiting for Friday & make payday Wednesday.
Bank on your schedule
Skip a trip to the bank & manage your money from the palm of your hands with the MoneyCard app.
Unlock overdraft protection up to $200
Opt in & enjoy coverage levels for purchase transactions based on your eligible direct deposit.
Save more with no monthly fees
No monthly fee when you direct deposit $500+ in previous monthly period. Otherwise, $5.94 a month.
Disclaimers
*Up to $75 per year. Subject to eligibility. Redeem rewards upon each anniversary of opening the account, using our website or app. See Deposit Account Agreement.