If you have an ongoing loan with Stilt, you have to meet these criteria to be eligible to apply for a second loan:
- You never missed a payment
- Meaning you were never delinquent
- You are halfway through your loan term (not just loan amount) with on-time payments
- If you pay off half of your loan sooner than half of the loan term, you will still have to wait for 50% of the term to be eligible for another loan application
- You don't have more than 2 loans outstanding with Stilt
This new loan application will be considered independently of your previous loan. We can not guarantee that you will get the same or lower interest rate. While we do consider your previous loan history with us, we still take all factors (such as visa, income, job stability etc.) into consideration.
If your current loan term is 24 months long, you must have made 12 on-time, in full payments, to be eligible for a new loan with us.