Laurel Road Loans

Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Laurel Road loans

Personal loans, mortgages, student loan refinancing and more.

No reviews yet. Write a review

Laurel Road (formerly DRB) is a nationwide bank that offers a variety of loans with competitive rates and limited fees. And since it’s available in all 50 states, you won’t be left out no matter where you live. But with minimal information available on its loans up front, you may want to explore all your options before committing to this lender.

What types of loans does Laurel Road offer?

Whether you’re looking to finance a large purchase or buy your first home, Laurel Road may be able to help. It currently offers four different types of financing:

  • Personal loans. Laurel Road offers personal loans up to $45,000 for qualified borrowers. Terms range from three to five years, and its fixed rates start at 7%. And physicians and dentists may qualify for a low starting rate of 5.5%, slightly longer terms and a larger loan amount of $80,000.
  • Student loan refinancing. You can refinance a student loan or Parent PLUS Loan with Laurel Road. There are no maximums, so those with large amounts of student loan debt can refinance it all in one place. You’ll have between five and 20 years to pay off your debt, with fixed rates starting at 3.5% and variable rates starting at 1.89%.
  • In-school loans. In addition to refinancing, Laurel Road also offers in-school financing for post-graduate programs. However, the programs it considers are limited, as are the eligible schools. You’ll have to check with Laurel Road to make sure you qualify before you apply.
  • Mortgages. Laurel Road offers a variety of mortgage structures to suit the needs of anyone looking to buy a home. It offers fixed terms of 15, 20 and 30 years and an adjustable rate mortgage (ARM) with a seven-year fixed period. And if you already have a home, Laurel Road also offers cash-out refinancing to qualified borrowers.

Why should I consider taking out a loan with Laurel Road?

  • Allows cosigners. If you don’t meet Laurel Road’s credit requirements on your own, a cosigner could improve your likelihood of approval. This is available for its personal loans, student loans and in-school loans.
  • Available in all 50 states. Unlike many online lenders and other banks, Laurel Road is available in all 50 states and Washington, DC.
  • No origination fees or prepayment penalties. Laurel Road doesn’t have any origination fees or disbursement fees, and you won’t be penalized for paying off your loan early. But mortgage borrowers will still be responsible for closing costs.
  • Autopay discount. Get a 0.25% discount on your APR when you sign up for autopay.

Where does Laurel Roads fall short?

  • Laurel Road account may be required for autopay discount. For student loan refinancing, you must open an approved checking account with Laurel Road.
  • No cosigner release on refinancing. Cosigners for a student loan refinance can’t be removed until the loan is fully paid off or refinanced with a different provider.
  • Less information about personal loan offers. You’ll find fees and other information for the student loan refinancing option on Laurel Road’s website, but not for its personal loans. Take caution if you don’t fully understand the terms before accepting an offer.

Compare Laurel Road loan offers

NameMin. Credit ScoreMax. Loan AmountAPR
Laurel Road personal loans680$45,0007% to 23.25%Read review
Laurel Road Student Loan Refinancing6801.89% to 5.90%Read review

How much will it cost me to borrow with Laurel Road?

You won’t pay an application, origination or disbursement fee with Laurel Road, and you’re not subject to prepayment penalties if you pay off your loan early.

The interest rate you receive will depend on the type of loan you borrow and your crediworthiness. Personal loans tend to cost more, while mortgages and student loan refinancing tend to have lower rates — especially when you opt for variable interest. You can get a further 0.25% discount on your rate by signing up for autopay or indicating that you’re a medical professional.

What do borrowers say about Laurel Road?

Laurel Road doesn’t have a Better Business Bureau (BBB) profile itself, but its parent company, Darien Rowayton Bank, does. It’s not BBB-accredited but still receives an A rating. Complaint details are hidden, but the reviews aren’t. One person complained that their student loan application spent months in the underwriting process, while another said it took four months for their funds to be disbursed. This doesn’t represent Laurel Roads, but it can give some insight into how its business may be run.

It does much better on Trustpilot, where it actually has a page. It earns a 9.1 out of 10 score, and 85% of the 205 customers that left reviews rate it as “Excellent.” Conversations in online forums were also more favorable. When one Reddit user asked if they should use Laurel Road or Earnest to refinance their student loans, they were advised to go with Laurel Road. Others agreed that Laurel Road tended to offer lower rates than its competitors.

Our takeaway: It might take a long time to go through, but it’s inexpensive.

Are Laurel Road loans safe?

In general, yes. However, no online lender can guarantee your information stays 100% safe. Laurel Road does its part by securing and encrypting any personal or financial details you submit in your application. According to its privacy policy, it only shares sensitive personal information with service providers, legal representatives, credit bureaus and check printing services — and only if necessary.

How to apply for a loan with Laurel Road

To apply for any loan, go to Laurel Road’s website and complete the short prequalification application. You’ll indicate the loan you’re interested in and then upload documents that could include:

  • Government-issued photo ID
  • Two recent pay stubs
  • Loan statements, including payoff amounts — if applicable
  • Proof of graduation — if applicable

If you’re approved, you’ll receive a letter with your rate and disclosure information. The final step is accepting the loan’s terms and signing your promissory note.

Eligibility requirements

Any working professional who’s taken out a student loan for undergraduate or graduate study should qualify for a Laurel Road loan. It also provides refinancing to parents who’ve taken out high-interest Parent PLUS Loans to fill in tuition gaps. Like student loan refinancing, personal loans and mortgages are open to all US citizens or permanent residents with a valid I-551 card.

To qualify for a Laurel Road loan, you must at least:

  • Have a steady source of income.
  • Be a US citizen or permanent resident.
  • Be at least 18 years old.

Your creditworthiness, income and debt also factor into your application.

More about the company

Laurel Road is a Connecticut-based bank that offers its products to residents of all 50 states, Puerto Rico and Washington, DC. Beyond loans, it also offers checking and savings accounts as well as CDs and banking services for businesses. And for those still learning about the borrowing process, Laurel Road has a plethora of resources to help you get informed before you borrow.

Bottom line

Laurel Road has been expanding its products to better suit the needs of its borrowers. From personal loans to mortgages to student loan refinancing, you may be able to find an option to help. But with no cosigner release on some loans and limited upfront information on its options, you might want to explore your other personal loan options or student loan refinancing options before you commit.

Frequently asked questions

Can I refinance federal and private student loans?

Yes, you can refinance both types of loans with Laurel Road. However, if you refinance your federal student loans, you’ll lose several key benefits like access to income-based repayment plans and some forgiveness programs.

Can I refinance with Laurel Road if I’ve already refinanced with another lender?

Yes, you can refinance with Laurel Road and potentially save more money with lower interest rates. You can also refinance an existing Laurel Roads personal loan — just note it on your application when you apply.

Does Laurel Road offer forbearance options if I become unemployed?

Yes, if you’re struggling financially, Laurel Road can choose a full or partial forbearance for one or more three-month time frames. Specific qualifications for economic hardships qualify, and verification of job loss is required.

If I have already accepted another personal loan, can I still apply for one with Laurel Road?

Yes. You can even use a Laurel Road personal loan to pay off an existing loan with another provider. Before you do, make sure your original loan doesn’t leave you on the hook for early repayment or other fees.

Do I need a cosigner for a loan with Laurel Road?

No, you don’t need a cosigner. However, if you don’t meet Laurel Road’s credit criteria, a cosigner could improve your chances of loan approval.

More guides on Finder

  • Laurel Road personal loans review

    Available in all 50 states, Laurel Road offers personal loans for just about any legitimate purpose. Bigger loans and lower rates for doctors and dentists.

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site