Freedom Review

ByMichael DinichFeb. 26, 2021

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In a Nutshell

Freedom provides borrowers a highly personalized loan package with rates and terms to match. Customers who choose Freedom can benefit from funding in as little as 2 days, no prepayment penalties and no hidden fees.


  • Fast approval process
  • Highly personalized customer service


  • Website lacks basic information about loan terms
  • Borrowers with credit score under 670 may experience higher APRs

Freedom at a Glance

Loan types Personal Loans
Loan amount $10,000 - $40,000
Repayment terms 24 - 60 months*
APR 7.99% - 29.99%
Min. credit score 620
Best for Paying off high-interest debt

Freedom Financial Network Freedom Financial Network Visit Freedom


In 2014, Andrew Housser, co-founder of Freedom Financial Network, established Freedom with the goal helping borrowers consolidate their high-interest debt with a loan. Since then the company has grown tremendously, originating over $1 billion in loans using a unique loan servicing model where borrowers can apply for a loan online then speak to a loan consultant over the phone to get a loan with rates and terms customized for their particular situation. Excellent customer service, competitively low rates, and flexible terms set FreedomPlus apart from other online lenders in the space. 

A member of Freedom Financial Network, the mission of Freedom is to help borrowers find an affordable solution to debt. However, the company also offers loans for nearly any purpose, including home improvement, vacations, weddings, and more.

Loan Features

Freedom offers loans from $10,000-$40,000. Rates very between 7.99% - 29.99% APR with terms from 24-60 months.
The ideal candidate for a Freedom loan has multiple high-interest credit cards or other forms of unsecured debt and a good credit score. Through Freedom, borrowers dealing with a high debt amount can roll all of their debt into a single loan with a lower rate, simplify their monthly payments, and pay off the debt faster than if they were making minimum payments. Since Freedom has flexible rates and terms, borrowers can choose a loan that fits their exact needs and budget.

Unlike other lenders, Freedom offers discounted rates to borrowers who qualify. These discounts include:

  • Co-Borrower Discount. If you add an eligible co-borrower to your loan application
  • Retirement Asset Discount. If you prove you have over $40,000 in retirement funds like a 401(k) or ROTH IRA
  • Direct Pay Discount. If you allow Freedom to use your loan to directly pay your creditors

The company offers a quick and easy online application, followed by the best personal loan consultation where borrowers can discuss their loan options with a knowledgeable and friendly consultant to get a custom loan offer.

Loan Application Information

Freedom offers a highly personal loan application process, resulting in a loan customized to fit each individual borrower. To apply for a loan from Freedom, you may have to provide the following information:

  • Paystubs
  • W-2 forms
  • Social security number
  • Proof of identity
  • Proof of income
  • Employment status

Most of the Freedom loan application process is conducted online, but there may be a need for documents to be faxed. After the initial application, a loan consultant will get in touch by phone to discuss options. We went through the process multiple times, testing with lower credit scores and different loan types and were always eligible for a loan and found that 670 is the minimum credit score.

Once the initial application is completed, a loan consultant from FreedomPlus calls to discuss your APR and repayment terms. These rates are assessed based on the information provided during the initial signup, and further details requested by the analyst. Borrowers with a score in the 670 range will likely experience higher APRs, but these rates will be calculated on the supposed ‘higher risk’ of the consumer.

Repayment Terms

Repayment of Freedom loans are made through the normal channels, with automated electronic funds transfer being the preferred method. Dates and terms are agreed upon before signing the product contract – but borrowers are able to reduce this term by making early payments (without penalty). Length of terms range from 24-60 months.

Help and Support

Freedom customer support is operated through Freedom Financial Network, meaning borrowers have access to the expertise and knowledge of extremely highly qualified professionals.

How Freedom Compares 

7.99% - 29.99%8.05% - 35.89%
Min. credit score
Loan amounts
$10,000 - $40,000$1,000 - $40,000
Loan term
24 - 60 months36 - 60 months
Best for
Paying off debtSmall loans


Freedom has a lot to live up to, as one of the subsidiaries of a highly-successful parent company, Freedom Financial Network. While information for interested parties might be a little thin on the ground, we have found a multitude of satisfied borrowers who have been thrilled with rates and repayment options on offer to them. This highly private and personalized loan system has been helping struggling consumers for more than a decade and wouldn’t still be around if it wasn’t working.

Physical Address

1875 South Grant Street,

San Mateo, CA 94402


Freedom Financial Network Freedom Financial Network Visit Freedom

* All loans available through are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Eligibility for a loan is not guaranteed. Loans are not available to residents of all states – please call a Freedom representative for further details. The following limitations, in addition to others, shall apply: Freedom does not arrange loans in: (i) Arizona under $10,500; (ii) Massachusetts under $6,500, (iii) Ohio under $5,500, and (iv) Georgia under $3,500. Repayment periods range from 24 to 60 months. The range of APRs on loans made available through FreedomPlus is 5.99% to a maximum of 29.99%. APR. The APR calculation includes all applicable fees, including the loan origination fee. For Example, a four year $20,000 loan with an interest rate of 15.49% and corresponding APR of 18.34% would have an estimated monthly payment of $561.60 and a total cost payable of $7,948.13. To qualify for a 5.99% APR loan, a borrower will need excellent credit on a loan for an amount less than $12,000.00, and with a term equal to 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to directly pay off qualifying existing debt; or showing proof of sufficient retirement savings, could help you also qualify for the lowest rate available.

Freedom Financial Network customer testimonials

ExcellentReviews 32,677
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  • author
    9 hours ago
    1099 for 2020 taxes

    Fdr was able to get me my 1099 quickly through email so i could file my taxes fast


  • author
    Eric Toll
    a day ago
    Not strong on follow-through; and keep your eyes on your debts

    When I joined Freedom Debt Relief, it was with some concerns related to a recent stipulated settlement with the government. However, it seemed that the issues were resolved. I was told to change my contact information to send mail and calls to FDR in order to not be bothered by debt collector calls. This was a mistake. FDR did not keep me informed of outreach by creditors and collection agencies, and I missed opportunities to settle for less than what FDR later negotiated. In one case, a creditor offered to settle for 50% of the total with me, I referred them to FDR who never took advantage of the offer nor forwarded any of the correspondence to me or kept me informed. I ended up being sued. I pay extra for National Litigation GRoup , but frankly they didn't do anything I couldn't have done myself, even after being sued. We ended up settling for 70% of the debt. FDR had no involvement in this negotiation but still wants its 25% commission on the transaction. I believe it should substantially cut the commission on this account. In another case, I was lucky that a debt collection agency was able to contact me. I learned that the creditor had turned the account over to the collection agency after FDR failed to respond to repeated written notices and phone calls. I'm monitoring closely to see if they are following through. On the positive side, my credit score had been inching up as payments have been made and the accounts negotiated. However, the lawsuit completely wiped out all my gains and another 20 points on the score. They do get good settlements, but attention to detail is sloppy. If you go with them, be vigilant. Also, there are at least three hands in the pot for your money: the organization signing you up, FDR, National Litigation Group, and a third party "escrow" company. Honestly, I think next time, I'll stick with a local, non-profit credit counseling service. It seems to me I could have saved about the same negotiating directly with debtors.


  • author
    Donna Dunn
    a day ago
    They are doing a great job.

    They are doing a great job.. wish I had all my debts paid in full but that day will come soon..


  • author
    Ann H
    a day ago
    Not what I expected

    Well, I had high hopes when I signed up but only have disappointment. I had two CC's to work on and Freedom would only work on them one at a time. The one with the smaller balance went okay but took a long time. The other, with a much bigger balance was left sitting and not dealt with until they decided to sue me. In the mean time leaving it to sit racked up somewhere over $4000 in interest. The Freedom lawyers settled the case with no reduction, just said 'sorry and we won't charge you a fee'. I found that to be highly disappointing as in the discussion I had before signing on the dotted line to let Freedom take on my debts they made claims of huge success. Specifically with the two CC companies I have. Well, now I have an even bigger debt and court costs to pay. So, yes, I am highly disappointed and wish I did not sign up for the program.


  • author
    Ron Reid
    a day ago
    The entire process was presented…

    The entire process was presented concisely and the representatives have been more than helpful. It’s been a great experience from the start, can’t wait for the finish.


Freedom Financial Network