After posting my review of Splash Financial, their compliance team asked that I provide the following information:
See disclaimers at: https://www.splashfinancial.com/disclaimers
Splash Financial, Inc. (NMLS #1630038), licensed by the DFPI under California Financing Law, license # 60DBO-102545
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Products may not be available in all states. Rates and terms are subject to change at any point prior to application submission. The information you provide is an inquiry to determine whether Splash’s lending partners can make you a loan offer. To qualify, a borrower must be a U.S. citizen or other eligible status and meet lender underwriting requirements. Lowest rates are reserved for the highest qualified borrowers and may require an autopay discount of 0.25%. Splash does not guarantee that you will receive any loan offers or that your loan application will be approved. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, creditworthiness, income and other factors. This information is current as of March 9, 2023. You should review the benefits of your federal student loan; it may offer specific benefits that a private refinance/consolidation loan may not offer. If you work in the public sector, are in the military or taking advantage of a federal department of relief program, such as income-based repayment or public service forgiveness, you may not want to refinance, as these benefits do not transfer to private refinance/consolidation loans.
*Autopay Discount. Rates listed include a 0.25% autopay discount.
Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed APR options range from 4.49% (with autopay) to 9.24% (without autopay). Variable APR options range from 4.74% (with autopay) to 9.24% (without autopay). Variable rates are derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001).
*Payment Disclosure. Fixed and variable loans feature repayment terms of 5 to 20 years. Repayment examples are for illustrative purposes only. Fixed-rate example: the monthly payment for a $10,000 loan with an APR of 5.47% for a 12-year term would be $94.86. Variable-rate example: the monthly payment for a $10,000 loan with an APR of 5.90% for a 15-year term would be $83.85.
Credit Pull Disclosure. To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Bonus Disclosure. Terms and conditions apply. Offer is subject to lender approval. Any bonus amount you receive will vary based on your refinancing amount. You will receive $500 for refinancing $50,000 or more. To receive the cash bonus offer, you must: (1) register and/or apply through the referral link you were given; (2) complete a loan application with Splash Financial; (3) provide a valid U.S. address to receive the cash bonus check; (4) refinance at least $50,000 with one of Splash’s lending partners; (5) meet the lender’s underwriting criteria and accept the loan offer. Once conditions are met and the loan has been disbursed, you will receive your cash bonus check at the address you provided within 120 calendar days. Bonuses that are not redeemed within 180 calendar days of the date they were made available to the recipient may be subject to forfeiture. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. Bonus offer is for new customers only.