Personal loans offer a convenient way to borrow money when you need to pay an unexpected bill, invest in new cabinets for your kitchen, take a memorable trip to your favorite vacation spot or pay for moving expenses.
Choosing to utilize one can also be a prudent move if you've got high-interest credit card balances you'd like to bundle together.
Repaying the loan involves making scheduled payments, including principal and interest. If you'd like to have the flexibility to make one or more purchases outside of your usual spending range, using this financial tool may be what you need.
Requirements Needed to Qualify for a Loan
Having a good credit history and a steady income are two requirements you'll need to qualify for a loan. This helps ensure you've got a way to make payments comfortably and a history showing your creditworthiness and ability to correctly follow payback terms.
Pre-Qualifications Are Done With a Soft Credit Pull
You likely understand how important your credit score is in the financial world. This program is for well-qualified customers who have a credit score of around 680+. Our preapprovals are completed in approximately 24 hours by using a soft credit pull. Using this method allows us to gather the appropriate data without affecting your credit score.
If you're approved for a loan amount between $25,000 to $500,000 and decide to pursue this option, more documentation will be required. Typically, this may involve pay stubs, tax returns, and utility bills.