Earnest vs CommonBond

Struggling to choose between Earnest and CommonBond? Both products offer unique advantages, making it a tough decision.

Earnest is a Ai Tools & Services solution with tags like ai, machine-learning, lending, loans, fintech.

It boasts features such as AI/machine learning-based credit evaluation, Personal loans, Student loan refinancing, Medical loan refinancing and pros including Potentially get approved for a loan with a low credit score, Lower interest rates than traditional lenders for some borrowers, Fast online application process, No origination fees, No prepayment penalties.

On the other hand, CommonBond is a Business & Commerce product tagged with student-loans, loan-refinancing, personal-finance.

Its standout features include Online student loan refinancing, Competitive interest rates, Flexible repayment terms, Cosigner release option, Unemployment protection, Forbearance options, and it shines with pros like Can potentially lower monthly payments, No application or origination fees, Option to release cosigner after making 12-48 consecutive on-time payments.

Feature	Earnest	CommonBond
Overall Score	N/A	N/A
Primary Category	Ai Tools & Services	Business & Commerce

Product Overview

Earnest

Description: Earnest is a lending platform that uses artificial intelligence and machine learning to evaluate loan applications. It provides personal loans and refinancing for student loans and medical loans. Earnest aims to provide affordable loan rates based on the applicant's credit profile and earning potential rather than credit score alone.

CommonBond

Description: CommonBond is an online lender that provides student loans and refinancing options. They offer competitive interest rates and flexible loan terms to help borrowers save money.

Key Features Comparison

Earnest Features

• AI/machine learning-based credit evaluation
• Personal loans
• Student loan refinancing
• Medical loan refinancing

CommonBond Features

• Online student loan refinancing
• Competitive interest rates
• Flexible repayment terms
• Cosigner release option
• Unemployment protection
• Forbearance options

Pros & Cons Analysis

Earnest

Pros

• Potentially get approved for a loan with a low credit score
• Lower interest rates than traditional lenders for some borrowers
• Fast online application process
• No origination fees
• No prepayment penalties

Cons

• High minimum credit score requirement (680)
• High debt-to-income ratio requirement (50%)
• No cosigners allowed
• Limited loan amounts
• Only available in certain states

CommonBond

Pros

• Can potentially lower monthly payments
• No application or origination fees
• Option to release cosigner after making 12-48 consecutive on-time payments

Cons

• Must meet eligibility requirements for refinancing
• No federal student loan benefits like income-driven repayment plans

Pricing Comparison

Earnest

• Subscription-Based

CommonBond

• Subscription-Based