Does Avant verify income for personal loan applications? This question is about Avant

Does Avant verify income for personal loan applications?

This question is about Avant

Grace Enfield, Content Writer

@grace_enfield • 11/25/21 This answer was first published on 11/25/21. 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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Avant does verify income for personal loan applicants to confirm that people can repay what they borrow, but it does not disclose a minimum income requirement. You also have to meet other Avant requirements to be considered, such as being at least 18 years old and being a US citizen or permanent resident. You have a good chance of getting approved if you meet all of these requirements.

Avant Personal Loan Requirements

Be at least 18 years old
Be a US citizen or permanent resident
Have a Social Security number
Have a credit score of 580 or higher

If you want a better idea of what personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.

Does Avant do a hard inquiry?

Yes, Avant does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Avant's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual...

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Does Avant allow cosigners on personal loans?

No, Avant does not allow cosigners on personal loans, unlike some personal loan providers. A cosigner is a second person who serves as a guarantor on the loan, and thus promises to pay the loan back if the primary applicant cannot.

Although Avant does not accept cosigners on personal loans, there are quite a few lenders out there that do. You can check out WalletHub's picks for the best personal loans that allow cosigners to find some good offers.

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How do I apply for an Avant personal loan?

To apply for an Avant personal loan, first check for pre-qualification and decide which way you will apply (online or by phone), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for an Avant Personal Loan

Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before...

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