What are the best personal loans for a 520 credit score? This question is about Best Personal Loans

What are the best personal loans for a 520 credit score?

This question is about Best Personal Loans

Rick Bormin, Personal Loans Moderator

@rhandoo2020 • 04/13/21 This answer was first published on 04/14/21 and it was last updated on 04/13/21.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The best personal loans for a 520 credit score are from OppLoans and Integra Credit. These companies specialize in lending to people with bad credit and won’t even do a credit check when you apply for a loan.

It’s important to note that any personal loan you get with a 520 credit score is likely to have a very high APR and an expensive origination fee. If possible, you might want to try to borrow money a less costly way, such as from friends and family. If that’s not an option, the following lenders offer the most competitive terms.

Best Personal Loans for a 520 Credit Score

Keep in mind that getting a personal loan with a 520 credit score is not guaranteed. When making a decision on whether or not to approve you, a lender will look at your whole financial profile, including things like your income, existing debts, housing status and more.

Where can I get a $5,000 loan?

Most major lenders offer $5,000 loans, though approval depends on the borrower’s credit history and ability to pay. Some of the best lenders for a $5,000 loan include LightStream and SoFi, which offer $0 origination fees, the chance for very low APRs, and loan amounts ranging from $5,000 to $100,000. LendingPoint also is a great choice, for people with bad credit, as its minimum credit score requirement is just 580.

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What are the personal loan requirements?

Major personal loan requirements include being at least 18 years old, having a bank account, having a good credit history, and having enough income or assets to afford monthly loan payments. Specific personal loan requirements vary by lender, however. Avant requires a credit score of 600 or higher, for example, while Prosper sets the bar at 640 and SoFi asks for 680. Most lenders don’t disclose annual income requirements, but two exceptions are LendingPoint ($20,000+)...

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What credit score is needed for a personal loan?

The minimum credit score for personal loan approval is 580, depending on the lender. That means it is possible to get an unsecured personal loan with a bad credit score, though such a loan will likely have an origination fee.

For your reference, WalletHub researched some of the most popular lenders to find out more about their specific loan requirements.

Credit Score for Personal Loan Approval by Lender

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