The best $4,000 installment loans are from PenFed Credit. The company offers loan amounts of $500 - $50,000, an APR range of 5.99% - 17.99%, repayment periods of 12 - 60 months and funding as soon as 1 business day after you apply. The loan amount you receive will depend on your credit score and your debt-to-income ratio, among other factors.
You need a credit score of at least 580 to qualify for a decent installment loan from a major lender. You will likely need a higher score to get a personal installment loan with no origination fee and a low APR, however.
Other types of installment loans will have different requirements than personal loans. For example, you may be able to get a mortgage or a car loan with a low credit score or no credit history.… read full answer
Credit Score Required for Personal Installment Loans by Lender
You’re not guaranteed to get approved for an installment loan just because you meet the credit score requirement. You’ll also need to be at least 18 years old, have enough income to make monthly payments and have a bank account.
To see which lenders may approve you and what rates may be available to you, check out the free pre-qualification tool on WalletHub.
You can borrow $4,000 with no credit check from Opploans, NetCredit or Oportun, among other lenders. None of these loan providers use applicants' credit history as a condition for approval, though it's important to note that approval is still not guaranteed.
Lenders will look at things like your income and employment status to determine your ability to pay. The more money you need to borrow and the less money you earn, the slimmer your options for no credit check loans become.… read full answer
These lenders offer the best loans of $4,000 with no credit check because they don't require collateral and they have rates that are relatively low compared to those of predatory payday lenders. They're not the only places to borrow without having your credit pulled, though.
Other Places to Get a $4,000 Loan With No Credit Check
Friends and family: There's no limit on the amount you can borrow from friends and family, as long as they're willing to lend it. Just be sure to have a solid repayment plan so you don't ruin your relationship.
Pawnshops: Pawnshops typically offer 25% - 60% of an item's value, and they hold onto that item while you repay the money with interest. The interest is expensive, though, and if you don't pay on time the pawnshop will sell the item rather than return it to you.
Auto title lenders: You can get a loan of around 25% to 50% of the value of your car, to be repaid in 15 to 30 days. But if you can’t pay it back – with interest as high as 25% of what you borrow – you could lose your car.
You will likely need a credit score of at least 580 for a $4,000 personal loan. Most lenders that offer personal loans of $4,000 or more require bad credit or better for approval, along with enough income to afford the monthly payments. Other common loan requirements include being at least 18 years old; being a U.S. citizen, permanent resident or visa holder; and having a valid bank account.… read full answer
Credit Score Required by Lenders That Offer $4,000 Personal Loans
Not disclosed, but does consider those with bad credit
Some lenders will consider people with bad credit for a $4,000 personal loan, but it may be difficult to get approved for an amount above the lender's minimum unless you have a lot of income. Your chances of approval do get better the higher your credit score is above the minimum requirement, though.
The best way to see your odds of approval and what rates may be available to you is to add your desired loan amount to WalletHub's free pre-qualification tool. This tool won't hurt your credit score.
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